Global Digital Map Market Trends Analysis Report, By Top Key Players; Nearmap, Microsoft, NavInfo, AutoNavi, Yahoo, Apple, Esri, Google, DigitalGlobe, HERE Technologies
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North America is anticipated to lead in the digital map market over the forecast time period. This is due to the presence of prominent technological players such as Google, Microsoft, and Apple. The region is also one of the major hubs for the technology start-ups. Supportive government policies and favorable conditions for the new players encourage companies to work on cutting-edge technologies. In addition, the increasing venture capital in the mapping technologies by the tech-giants also drive the digital map market. For instance, in 2015, Mapbox raised USD 52 million to develop media-rich mapping solutions for the North American region.
The digital maps are used for tracking & telematics, catchment analysis, risk assessment & disaster management, route optimization, and geo-analytics visualization. The route optimization market holds a dominant market share in the solution market. The route optimization is widely used across the logistics & transportation sector to boost the productivity and efficiency by reducing the time spent on planning routes from one location to the other. The disaster management market is estimated to grow at a fast pace over the projected time period. The digital maps are used for improving the collaboration between the volunteers & humanitarian organizations.
Digital Map Market size is driven by the growing adoption of smartphones and other mobile devices for navigation purposes. Over the years, smartphone users have increased significantly due to the availability of inexpensive mobile devices, fostering the digital map market growth.
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The digital maps are used in energy & utilities, construction & engineering, logistics, travel, transportation, government & defense, automotive, retail, real estate, telecom, IT, media & entertainment, and BFSI sectors. The automotive sector in digital map market is projected to grow at a rapid pace over the forecast timeline. The digital maps are used across the automotive sector to develop various navigational components. They help the automobiles to sense any changes in the surrounding environment and navigate without human input. It is also used in the defense sector to provide the geospatial intelligence support in defense and intelligence operations.
The smartphone users utilize digital maps to locate the nearby recreational services and emergency services such as restaurants, hospitals, and departmental stores. In addition, the marketers also use the digital maps to advertise their services based on their customers’ location.
The enhanced network connectivity across various mobile devices & the widespread availability of digital maps across various mobile devices have driven the market growth. The emergence of the 4G technology has further improved the data transfer speeds considerably compared to the previous generation’s 3G networks. This improved network connectivity has allowed customers to access multiple mapping solutions through their smartphones for navigational purposes.
The companies operating in the digital map market are Esri, Google, DigitalGlobe, HERE, Nearmap, Magellan, Microsoft, NavInfo, AutoNavi, Digital Mapping Solutions, Automotive Navigation Data, MapMan, OpenStreetMap, Living Map, ZENRIN, MapSherpa, INRIX, Mapmechanics, Yahoo, Apple, MapQuest, MapmyIndia, Digital Map Products, TomTom, and Mapbox.
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