Huge adoption of mobile devices for navigation and 3D mapping contribute towards the Digital Map Market growth

The research report " Global Digital Map Market: By Type (Services and Solutions), By Functionality (Scientific, GPS navigation and Computerized), By Application (Indoor and Outdoor), By Technology (GIS, Digital Orthophotography, Aerial Photography and Others), By Vertical (Automotive, Defense & Aerospace, Smartphones and Others) and Geography – Global/Region/Country Forecast to 2027", The Global Digital Map Market size is anticipated to grow at USD at 16.15 billion till 2027, recording a CAGR of 13.0% during the forecast period 2021-2027.

Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “ Global Digital Map Market: By Type (Services and Solutions), By Functionality (Scientific, GPS navigation and Computerized), By Application (Indoor and Outdoor), By Technology (GIS, Digital Orthophotography, Aerial Photography and Others), By Vertical (Automotive, Defense & Aerospace, Smartphones and Others) and Geography – Global/Region/Country Forecast to 2027",

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Growing adoption of smartphones will foster the digital map market growth:
The enhanced and increasing applications and capabilities of smartphones enable people to make use of such devices to obtain real-time direction to close by traffic details, weather assessments and locations. Therefore, several manufacturers of smart phone are making partnerships with different digital map sellers for providing inbuilt maps on their devices. Digital mapping is the process involves compiling and converting bulky information into a digital image. The main function of such innovative technology gives precise representations of a specific area and shows prominent road arteries as well as points of interest through maps. It becomes easy to get the most precise reflection of a location through digital map technology. This technology is used in a number of applications like from delivery to real estate business. There are several prominent factors that contribute greatly in the growth of the market are growing adoption of smartphones. Development of geographic information system (GIS) has made digital maps more interactive and useful. It allows users to present different kind of information on a map, retrieve specific results through queries, or apply analytics on the map data to derive meaningful insights. Consumers are greatly using digital mapping application like Google Maps to navigate places like hospitals, restaurants and ATMs, which consequently driving the market growth. The growing application of digital maps in industries like entertainment, automotive and media also propelled the market growth. A few other key factors that drive the market growth hugely are increasing count of internet users, increasing application of digital maps around various end user industries and advancement in GPS technology. Emergence of huge data in digital mapping solutions will provide big growth opportunity for the market.

Asia Pacific Accounts for Huge Market Revenue Share among other Regions:
Asia Pacific accounted for huge revenue share in the market recording a big CAGR rate and is also anticipated to grow during the forecast period. Numerous growth opportunities will be provided to the by this region to the industry players during the forecast years. The growing countries such as Japan and China are the key players for mobile maps in Asia Pacific. Regular market access by industry players, emergence of SMEs and high growth potential are the major factors that will enhance the mobile app market growth in Asia pacific.

Opportunities/Market Unmet Needs: Demand for HD Maps in Autonomous Vehicles:
HD maps refer to High Definition map, which shows more details than the traditional maps do.HD maps provide information in layers, such as base layer, geometric layer, semantic layer, map priors layers and real-time layer. These maps provide dynamic and accurate 3D rendering of the road environment at the centimeter scale. HD maps shows details like road boundaries, lane marking, curvature, gradient and slope of road, and road obstacles. It also shows roadside objects such as road signs, landmarks, and more. As self-driving cars are no longer a futuristic idea, many car manufacturing companies have released or soon going to release their self-driving cars. However these autonomous vehicles require built in HD map dataset and necessary sensors and other embedded device to operate smoothly. These maps work in combination with other devices intact in the vehicles such as cameras, radars, driver assistance systems. Thus high demand for HD maps in automotive sector is expected to boost growth of the Digital map market in the upcoming years.

Competitive Analysis:
Some crucial key players operating in the global digital map market are Collins Bartholomew Ltd, , Digital Map Products, Inc., Digital Mapping Solutions, DMTI Spatial, ESRI Business Information Solutions, Inc., Google LLC (Alphabet Inc.), HERE Technologies, Lepton Software, Mapbox, MapData Services Pty Ltd, Maxar Technologies (DigitalGlobe), ThinkGeo LLC and TomTom International B.V..

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