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Increase in the usage of 3D platforms & advanced technologies for surveying and making digital maps drive the growth of the global digital map market

01-17-2019 03:27 PM CET | IT, New Media & Software

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Increase in the usage of 3D platforms & advanced technologies

The digital map also called as cartography is an electronic map, which operation is based on a combination of graphic elements assigned to it in the form of electronic information. It is based on naturally harvested and processed into digital cartographic data. Digital mapping is a process of collection and compilation of data to form a virtual image. The compiled data is used to produce digital maps that exactly represent a particular geographical area or feature, including major rivers, roads, and important landmarks such as hospitals, airports, and so on.

Increase in the use of geospatial information, growth in use of smartphones, and advancements in technology drive the growth of the global digital map market. However, availability of free crowdsourcing digital maps and legal challenges restrict the growth of the market.

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The digital map market is projected to grow at a CAGR of 12.7% from 2017 to 2023. This is attributed to increase in the use of geospatial information and rise in use of smartphones. Based on the functionality, the market categorized into computerized, scientific, and GPS navigation.

The outdoor segment dominated the market in 2016. Digital map companies across the globe have focused on calculation, accurate & reliable navigation, and ease of convenience by transfer information and valuable insights to the user. In addition, easy & efficient operations, cost reduction, better connection with the communities, transparent nature, gain in competitive edge, improved decision making are fueling the growth of digital maps in outdoor use. Real-time mapping of the physical world represents lucrative opportunity for the market.

Digital Map Market Key Segments:
By Usage
• Indoor Applications
o Airports
o Malls
o Departmental Stores
• Outdoor Applications
o Automotive Navigation
o Mobile & The Internet
o Public Sector Agencies
o Enterprises
By Functionality
• Computerized
• Scientific
• GPS Navigation

Key Benefits:
• The study provides an in-depth analysis of the digital map market, with current and future trends to elucidate the imminent investment pockets.
• Information regarding key drivers, restraints, and opportunities coupled with their impact analysis is provided.
• Porter’s Five Forces analysis illustrates the potency of buyers and suppliers participating in the market.
• The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the digital map market potential.

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The global digital map market is characterized by the presence of international market players. These companies tend to expand their market presence by adopting strategies, such as product development. Some of the key players operating in the digital map include Apple Inc., Google Inc, HERE, Micello, Inc., TomTom International BV, MiTAC International Corporation, ARC Aerial Imaging Limited, Esri, Nearmap Ltd., and MAPQUEST.

About Allied Market Research
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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