Digital Map Market Set to Hit USD 66.58 Billion By 2032: A 11.4% CAGR Boost

The digital map market was valued at USD 25.28 billion in 2023. It is projected to grow to USD 66.58 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.4% during the forecast period from 2024 to 2032.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://www.polarismarketresearch.com/industry-analysis/digital-map-market/request-for-sample

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧:

A digital map is an electronic map that records boundary information at levels of accuracy sufficient to fulfill land administration needs for precisely recording title boundaries. Digital mapping, also known as digital cartography, is the act of compiling and formatting data into a virtual image. The primary aim of this technology is to create maps that accurately portray a specific area, including important road arteries and other sites of interest. The technology also allows you to calculate distances from one location to another.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:

● Along with an increase in smartphone usage, the market for digital maps is rapidly rising as a result of the rapid development of smartphone navigation apps.
● The growing technological complexity of smartphones has pushed users to use mapping apps for navigation and driving assistance.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬: https://www.polarismarketresearch.com/buy/62/2

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Major strategic developments embraced by retailers include partnerships, unique product developments, assets related to developing capabilities, consolidations and investments, collaborations, and contracts in R&D. Here is the list of the leading companies operating in the digital map market:

• Nearmap
• MapData Services
• HERE
• Collins Bartholomew
• Maxar Technologies
• ESRI
• Google LLC
• TomTom International BV
• IndoorAtlas

𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐌𝐚𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• The market for personal navigation devices (PNDs) is anticipated to be significantly impacted by recent technical advancements and the move toward smartphones.
• The future direction of the industry is expected to be determined by alliances and collaborations among automakers, suppliers of in-dash navigation systems, and suppliers of this data.
• Over the next several years, vendors are expected to choose from a wide range of revenue generating methods. Some are expected to focus on selling data and information to generate income, while others will choose location-based services.
• Exploration activities are anticipated to take place in developing parts of the world, while the need for real-time information and data is predicted to increase in wealthier nations.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐀𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.polarismarketresearch.com/industry-analysis/digital-map-market

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐟 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐌𝐚𝐩𝐬

• Navigation and Routing: Digital maps are widely used in GPS systems for providing directions, route planning, and real-time traffic updates.
• Asset Tracking: Businesses use digital maps for tracking assets, managing fleets, and optimizing logistics.
• Urban Planning and Management: City planners and local governments use digital maps for planning infrastructure projects, zoning, and managing public services.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

The digital map market is mainly segmented based on technology, application, end-user, and region. Based on technology studies, the InSAR segment is predicted to grow at the fastest rate. The segment's revenue growth is also expected to be driven by advancements in core techniques such as Differential InSAR, which allows for the detection of minute variations in land surface characteristics.

Furthermore, the application research shows that search and telematics will have a large market share. Vehicle monitoring, gas and oil fleet control to improve worker safety and security, and building fleet control that uses GPS search to perfectly and automatically register labor hours are all examples of digital map applications.

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:

Polaris Market Research
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Email: sales@polarismarketresearch.com

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This release was published on openPR.