Digital Map Market is Forecasted to Reach US$ 41.97 billion in 2028, Says Stratview Research

The global digital map market is projected to witness a growth rate of 15.9% annually from 2023 to 2028, with an anticipated size of US$ 41.97 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global digital map market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 41.97 billion
Growth (CAGR): 15.9% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+

Segment Insights on the Digital Map Market:
The global Digital Map market is segmented based on Material type, Application type, and region.
Based on type - The market has been classified into GIS, LiDAR, digital orthophotography, aerial photography, and others. In 2022, GIS (Geographic Information System) dominated the digital map market with a share of more than 35% and is expected to propel market growth at a significant rate during the review period. This was due to the increasing use of GIS in urban development and city infrastructure planning, disaster management, monitoring of natural resources, and assessing the impact of environmental initiatives. The integration of traditional business analytics with GIS has also enabled businesses to effectively evaluate market demographics and develop their business intelligence systems.
Based on service type - The market has been classified into Consulting, Development & Management. The development segment dominated the market registering the highest market share of more than 65% in 2022 & It is anticipated that the segment will experience significant growth during the forecast period. The increasing demand for digital maps from businesses to conduct business analysis and generate market-specific insights is expected to drive the demand for development services worldwide. In addition to development services, industry service providers also offer a range of other services, such as data processing, system infrastructure development, integration and licensing, end-use applications, and web services. Several digital mapping service providers are also focusing on integrating digital maps into their customers' systems to create interactive and easily accessible digital maps.

To know the most attractive segments, visit:
https://stratviewresearch.com/2732/digital-map-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

North American digital map market held the highest share of more than 30% in 2022 and is projected to grow at a healthy CAGR in the coming years. This is ascribed to many sectors such as automotive and mobile devices are using digital technology for end-to-end map solutions such as location information, real-time updates, technology collaboration, and analytics for better geo mapping outputs, which bolsters the regional market growth during the review period.

Digital Map Market Drivers:
Some of the key drivers listed in the report are given below.
• A significant rise in the number of smartphone and internet users is coupled with growing usage of 3D platforms & advanced technologies for making and surveying.
• The growing demand for geospatial information in recent years is driving the development of digital mapping technology.
• Applications such as location data management, geocoding & geopositioning, routing & navigation, and asset tracking require real-time updates of routes and congestion.
• Significant technological advances in digital mapping support these applications with data and information flows.
• The growing number of businesses using location services for marketing and promotional purposes will spur demand growth in the years to come.
Top Companies in the Digital Map Market:
Stratview Research has identified the following companies as the top market players.
• Esri (US)
• TomTom (Netherland)
• Digital Map Products Inc.(US)
• Google (US)
• Here (Netherlands)
• Nearmap(Australia)
• Magellan(US)
• Apple (US)
• Mapquest (US)
• Intrix (US)
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Digital Map Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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This release was published on openPR.