Digital Map Market Grows Owning To Innovations In Technology 2021

Publisher’s market research study identifies the increased adoption of IoT devices to be one of the primary growth factors for the digital map market. IoT enables interconnectivity between physical devices, vehicles, buildings, and other objects. The devices can be controlled remotely using the existing network infrastructure. GPS provides real-time geolocation and coordinates of hardware, while IoT monitors these devices and gives real-time data. Using IoT devices, the customer base of digital maps using GPS can be expanded. Also, IoT devices enable health-related wearable technologies and interconnected ecosystem with smart devices to interact with advanced positioning systems. Consequently, IoT devices and applications are steadily using digital maps for their services, driving the satellite map market. Our market analysts estimate that the market will grow steadily at a CAGR of almost 16% by 2021.

Location-based services (LBS) are steadily growing supported by digital maps. LBS supplies users with timely and location-specific information. Simultaneously, GPS and Internet-enabled mobile devices enables digital maps to provide access to product or service information, price comparisons, product alternatives, reviews, and direct purchase options. LBS also offers services such as offering products and services, advertising, mobile city guides, and targeted sales offerings among many. The availability of location-based services is one of the key trends contributing towards the growth of the digital map market.

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Competitive landscape and key vendors

The digital map market is moderately populated owing to the presence of several major and prominent vendors offering innovative products and solutions. Digital map providers compete intensely in terms of improved services and solutions, product portfolios, and pricing to attain competitive advantage in the satellite map market. Players performance in the satellite map market is impacted by increasing demand for high-quality content needs by various industries, rapid technological changes, and change in consumer preferences.

The leading vendors in the market are



Alibaba

Apple

Google

HERE

Micello

NavInfo

The other prominent vendors in the market are CE Info Systems, Digital Map Products, MapQuest, MapSherpa, MAPMECHANICS, Nearmap, OnStar, OpenStreetMap, PeopleNet, Traceon, and ViaMichelin.

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Segmentation by type and analysis of the Digital Map market

Outdoor

Indoor

Digital maps are primarily used for outdoor use due to their increased usage in various applications such as geocoding, local search, online mapping, and routing. Outdoor location-based service (LBS) applications are used in industries such as manufacturing, oil and gas, defense, and insurance. Also, the deployment of outdoor LBS enable the optimal deployment of fleets, personnel, and equipment in the enterprises.

Segmentation by application and analysis of the digital map market

Navigation

Geocoder

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