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Digital Map Market Size is projected to reach USD 55.2 Billion by 2031

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Digital Map Market Size is projected to reach USD 55.2 Billion by 2031, growing at a CAGR of 12.5%: Straits Research

The global digital map market size was valued at USD 19.13 billion in 2022. It is projected to reach USD 55.2 billion by 2031, growing at a CAGR of 12.5% during the forecast period (2023–2031). North America is the most significant shareholder in the global digital map market.

 

New York, United States, Dec. 01, 2022 (GLOBE NEWSWIRE) — A digital map, also called cartography, is an electronic version of a paper map that uses data visualization to display geographical features. Digital maps rely on data gathered from the real world. A digital map is the result of data collection and compilation. Detailed digital maps are created using the data collected, including major rivers, roads, and landmarks like hospitals, airports, and other points of interest. The growing popularity of ride-hailing, car-sharing, and car-pooling apps, the integration of travel-related services into mobile apps, and the maturation of the wearables market are all factors driving demand for digital map solutions.

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Rising Adoption of Mobile Computing Devices for Navigation Drives the Global Market

Due to the rapid development of new technologies, mobile computing devices like smartphones and tablets constantly evolve and expand their feature sets. One of the latest additions to smartphones is map software, which is now usually installed by default. It’s common knowledge that people who own smartphones frequently use built-in mapping apps to find their way around and use them as navigational aids. In addition, they utilize geo-referenced data found in GPS and GIS apps to investigate nearby establishments like restaurants, theatres, and other attractions. These days, mobile computing devices are commonly used to capture 3D spatial information accurately. Using information gleaned from the user’s device, physical location, and various online sources, a personal digital assistant (PDA) can carry out tasks or provide services on the user’s behalf.

Rising Demand for Real-Time Mapping of Data Creates Tremendous Opportunities

Rich, accurate, and up-to-date digital representations are now feasible with the help of real-time maps. Businesses can analyze and present data from sensors, gadgets, and social media in near real-time using dynamic maps constantly updated in the cloud. Rapid decision-making and action are made possible by the instantaneous alerts and database updates provided by this system. More comprehensive mapping APIs and SDKs for asset and transportation monitoring can be created by integrating maps with real-time data, making it easier for developers to use all the data they can get their hands on. These APIs are integrated into the OS of autonomous vehicles, allowing companies to provide continuous feedback to tracking apps regarding road conditions and newly mapped areas. Using Geographic Information Systems (GIS) in Real-Time Crime Centers, a police department can better manage and improve law enforcement response and public safety in real-time.

Report Scope

Report Metric Details
Market Size USD 55.2 Billion by 2031
CAGR 12.5 % (2023-2031)
Historical Data 2020-2021
Base Year 2022
Forecast Period 2023–2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Solution, Vertical
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Google, Apple, ESRI, Autonavi, Microsoft, Tomtom, Mapbox, DigitalGlobe, Here, MiTAC International, Nearmap, Navinfo, Mapquest, and Living Map.
Key Market Opportunities Rising Demand for Real-Time Mapping of Data
Key Market Drivers Rising Adoption of Mobile Computing Devices for Navigation

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Regional Analysis

North America is the most significant shareholder in the global digital map market and is expected to grow during the forecast period. North America is expected to have the largest share of the global digital map market due to the increasing popularity of digital maps in the automotive and mobile device industries. The rise of connected cars and UAVs is also expected to boost sales of digital maps. The digital map market in North America accounted for the largest revenue share because of the region’s increased spending on mapping technology and the region’s high need for geo-spatial information from various end-use industries like automotive, retail, and utilities. Large corporations like Apple Inc. and ESRI are helping to drive revenue growth in the North American market.

Asia-Pacific is expected to grow during the forecast period. The Asia-Pacific digital map market is entirely examined, including China, India, Japan, Australia, and the rest of the region. More vigorous enforcement of various new technologies will likely contribute to expanding the regional market as governments make more significant efforts to close the gap between digital and geospatial technologies. Surveying and mapping plantation crops and rural and agricultural development are common uses of digital mapping technology in the region. Even more, encouraging the use of digital maps in urban policy and development initiatives is the rapid infrastructure development occurring in several countries in the area. Japan and China are just two countries that have started implementing GIS technology across industries to understand the market better. Specifically, for government and military use, the Chinese government has been pushing GIS software aggressively.

Europe is predicted to become soon the dominant player in the global digital map market due to rising demand for location-based services, the widespread availability of inexpensive GPS devices, and the widespread rollout of 4G. The growing popularity of in-store mapping and the expansion of retail outlets contribute to the increased demand for POS LBS. Caliper Corporation is a business that answers this call by creating retail mapping software for stores. As the market develops, significant players in the digital map industry are likely to combine forces.

Demand for digital signage in retail, transportation, and government, among other sectors, has contributed to South America’s digital map market growth. The Middle East and Africa region are poised to increase its global market share thanks to robust economic growth in Saudi Arabia and the United Arab Emirates. As a result, we expect an uptick in interest in real-time data and information in developed nations and continued exploration in less-developed regions.

Key Highlights

  • The global digital map market size is projected to reach USD 55.2 billion by 2031, growing at a CAGR of 12.5% during the forecast period (2023–2031).
  • Based on the solution, the global digital map market is bifurcated into tracking and telematics, catchment analysis, risk assessment and disaster management, route optimization and planning, and geo analytics visualization. The tracking and telematics segment is the highest contributor to the market and is expected to grow during the forecast period.
  • Based on vertical, the global digital map market is bifurcated into energy and utilities, construction and engineering, logistics, government & defense, automotive, retail & real estate, and others. The retail & real estate segment is the highest contributor to the market and is expected to grow during the forecast period.
  • North America is the most significant shareholder in the global digital map market and is expected to grow during the forecast period.

The global digital map market’s major key players are

  • Google
  • Apple
  • ESRI
  • Autonavi
  • Microsoft
  • Tomtom
  • Mapbox
  • DigitalGlobe
  • Here
  • MiTAC International
  • Nearmap
  • Navinfo
  • Mapquest
  • Living Map

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Global Digital Map Market: Segmentation

By Solution

  • Tracking and Telematics
  • Catchment Analysis
  • Risk Assessment and Disaster Management
  • Route Optimization and Planning
  • Geo Analytics Visualization

By Vertical

  • Energy and Utilities
  • Construction and Engineering
  • Logistics
  • Government & Defense
  • Automotive
  • Retail & Real Estate
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Digital Map Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Solution Overview
    1. Introduction
      1. Market Size & Forecast
    2. Tracking and Telematics
      1. Market Size & Forecast
    3. Catchment Analysis
      1. Market Size & Forecast
  5. Vertical Overview
    1. Introduction
      1. Market Size & Forecast
    2. Energy and Utilities
      1. Market Size & Forecast
    3. Logistics
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Solution
        2. By Vertical
      3. Canada
        1. By Solution
        2. By Vertical
      4. Mexico
        1. By Solution
        2. By Vertical
      5. Latin America
        1. By Solution
        2. By Vertical
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Solution
        2. By Vertical
      3. France
        1. By Solution
        2. By Vertical
      4. U.K.
        1. By Solution
        2. By Vertical
      5. Italy
        1. By Solution
        2. By Vertical
      6. Spain
        1. By Solution
        2. By Vertical
      7. Rest of Europe
        1. By Solution
        2. By Vertical
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Solution
        2. By Vertical
      3. China
        1. By Solution
        2. By Vertical
      4. Australia
        1. By Solution
        2. By Vertical
      5. India
        1. By Solution
        2. By Vertical
      6. South Korea
        1. By Solution
        2. By Vertical
      7. Rest of Asia-Pacific
        1. By Solution
        2. By Vertical
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Solution
        2. By Vertical
      3. South Africa
        1. By Solution
        2. By Vertical
      4. Kuwait
        1. By Solution
        2. By Vertical
      5. Rest of Middle East & Africa
        1. By Solution
        2. By Vertical
  7. Company Profile
    1. Google
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Apple
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. ESRI
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/digital-map-market/toc

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