The digital map, also called cartography, is an electronic map that operates based on a combination of graphic elements assigned to it in the form of electronic information. Digital mapping is a process of collection and compilation of data to form a virtual image. The compiled data is used to produce digital maps that exactly represent a particular geographical area or feature, Including major rivers, roads, and important landmarks such as hospitals, airports, and so on. Digital mapping technology can also be used to calculate the distance between different places.
Increase in use of geospatial information, thus drive the growth of the market. In addition, advancements in technologies such as artificial intelligence (AI) and machine learning (ML) and rise of Internet of Things (IoT) devices and sensors generating location-based data drives the growth of the growth of the market during the forecast period. Furthermore, growing adoption of mobile computing devices for navigation, wide adoption of 3D platforms, and advanced technologies for surveying and digital map-making are expected to propel the growth of the market during the forecast period. In addition, Increasing demand for location-based services across various sectors such as transportation, logistics, and retail are utilizing digital maps to enhance their operations, improve customer experiences, and optimize resource allocation. This trend is driven by the growing prevalence of smartphones, GPS-enabled devices, and the need for real-time navigation and geospatial data.
However, data security and privacy concerns, and cost and accessibility constraints hamper the growth of the market. In addition, availability of free crowdsourcing digital maps and legal challenges also expected to restrict the growth of the digital map market. Despite the restraints, the digital mapping industry presents significant opportunities. The emergence of autonomous vehicles and smart cities creates a demand for highly detailed and accurate mapping data. Companies that can provide precise mapping solutions, Including 3D and indoor mapping, stand to benefit from these opportunities. Furthermore, the expansion of e-commerce and the need for efficient last-mile delivery solutions provide avenues for digital mapping to optimize logistics and enhance supply chain management.Furthermore, the surge in adoption of real-time digital maps offers a strong opportunity for the digital map industry. Moreover, the rise of Internet of Things (IoT) devices and sensors is generating vast amounts of location-based data, further fueling the demand for advanced mapping technologies.
The digital map market is segmented into component, application, and region. By component, it is divided into solution and services. Based on application, this study Includes indoor and outdoor applications. Indoor applications Include airports, malls, and departmental stores, while outdoor applications Include automotive navigation, mobile & the internet, public sector agencies, and enterprises. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the digital map market are Apple Inc., Google LLC, HERE, Alibaba Group Holding Limited, TomTom International BV, MiTAC International Corporation and ARC Aerial Imaging Limited, Esri, Nearmap Ltd., and MAPQUEST. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the digital map market globally.
Increase in use of geospatial information, thus drive the growth of the market. In addition, advancements in technologies such as artificial intelligence (AI) and machine learning (ML) and rise of Internet of Things (IoT) devices and sensors generating location-based data drives the growth of the growth of the market during the forecast period. Furthermore, growing adoption of mobile computing devices for navigation, wide adoption of 3D platforms, and advanced technologies for surveying and digital map-making are expected to propel the growth of the market during the forecast period. In addition, Increasing demand for location-based services across various sectors such as transportation, logistics, and retail are utilizing digital maps to enhance their operations, improve customer experiences, and optimize resource allocation. This trend is driven by the growing prevalence of smartphones, GPS-enabled devices, and the need for real-time navigation and geospatial data.
However, data security and privacy concerns, and cost and accessibility constraints hamper the growth of the market. In addition, availability of free crowdsourcing digital maps and legal challenges also expected to restrict the growth of the digital map market. Despite the restraints, the digital mapping industry presents significant opportunities. The emergence of autonomous vehicles and smart cities creates a demand for highly detailed and accurate mapping data. Companies that can provide precise mapping solutions, Including 3D and indoor mapping, stand to benefit from these opportunities. Furthermore, the expansion of e-commerce and the need for efficient last-mile delivery solutions provide avenues for digital mapping to optimize logistics and enhance supply chain management.Furthermore, the surge in adoption of real-time digital maps offers a strong opportunity for the digital map industry. Moreover, the rise of Internet of Things (IoT) devices and sensors is generating vast amounts of location-based data, further fueling the demand for advanced mapping technologies.
The digital map market is segmented into component, application, and region. By component, it is divided into solution and services. Based on application, this study Includes indoor and outdoor applications. Indoor applications Include airports, malls, and departmental stores, while outdoor applications Include automotive navigation, mobile & the internet, public sector agencies, and enterprises. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the digital map market are Apple Inc., Google LLC, HERE, Alibaba Group Holding Limited, TomTom International BV, MiTAC International Corporation and ARC Aerial Imaging Limited, Esri, Nearmap Ltd., and MAPQUEST. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the digital map market globally.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the digital map market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on digital map market trends is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the digital map market from 2022 to 2032 is provided to determine the market potential.
Key Market Segments
By Component
- Solution
- Service
By Application
- Indoor Application
- Indoor Application
- Airports
- Malls
- Departmental Stores
- Outdoor Application
- Outdoor Application
- Automotive Navigation
- Mobile and the Internet
- Public Sector Agencies
- Enterprises
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- TomTom International BV
- ESRI
- Alibaba Group Holding Limited
- Apple Inc.
- MapQuest
- Nearmap Ltd.
- ARC Aerial Imaging Limited
- MiTAC Holdings Corp.
- HERE Technologies
- Google LLC
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DIGITAL MAP MARKET, BY COMPONENT
CHAPTER 5: DIGITAL MAP MARKET, BY APPLICATION
CHAPTER 6: DIGITAL MAP MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Digital Map Market,' The digital map market was valued at $21.8 billion in 2022, and is estimated to reach $89.1 billion by 2032, growing at a CAGR of 15.4% from 2023 to 2032.The Digital Map Market is likely to experience a significant growth rate of 15.4% from 2023-2032, owing to increasing market demand from outdoor application.
Digital Map denotes a collection of spatial data and attributes stored in a structured electronic format, often associated with a geographic information system (GIS). It includes layers of data representing different aspects of a geographic area, such as roads, buildings, land use, elevation, and demographic information. These digital maps serve as a valuable resource for analysis, decision-making, and modeling, enabling users to gain insights, identify patterns, and solve spatial problems in fields like urban planning, natural resource management, emergency response, and market research. In addition, digital maps provide accurate and real-time navigation and directions, helping individuals and businesses navigate unfamiliar areas efficiently. They offer turn-by-turn directions, alternative routes, and real-time traffic updates, optimizing travel time and improving overall navigation experiences.
On the contrary, digital maps enable location-based services, such as finding nearby businesses, restaurants, hotels, and attractions. It provides users with valuable information about their surroundings, helping individuals to make informed decisions and discover new places of interest. In the logistics and transportation industry, digital maps play a crucial role in optimizing route planning, fleet management, and delivery operations. It helps businesses streamline logistics processes, reduce fuel consumption, improve delivery accuracy, and enhance overall operational efficiency. Digital maps are invaluable tools for urban planners and city officials. They assist in urban development, land use planning, transportation infrastructure design, and public services management. Digital maps enable visualization, analysis, and simulation of various factors like population density, traffic flow, and environmental impact, facilitating informed decision-making. Additionally, during emergencies and natural disasters, digital maps play a vital role in coordinating rescue operations, evacuation planning, and resource allocation. It provides real-time information about affected areas, potential hazards, and available resources, aiding in effective response and recovery efforts. Digital maps help businesses gain insights into market demographics, consumer behavior, and geographic patterns. By overlaying business data on digital maps, organizations can identify target markets, analyze competitor locations, and make data-driven decisions regarding market expansion and resource allocation.
Factors such as the increase in use of geospatial information, thus drive the growth of the market. In addition, advancements in technologies such as artificial intelligence (AI) and machine learning (ML) and rise of Internet of Things (IoT) devices and sensors generating location-based data drives the growth of the growth of the market during the forecast period. However, data security and privacy concerns, and cost and accessibility constraints hamper the growth of the market. Furthermore, technological advancements provide opportunities for digital map vendors to expand their customer base.
The digital map market is segmented into component, application, and region. By component, it is divided into solution and services. Based on application, this study includes indoor and outdoor applications. Indoor applications include airports, malls, and departmental stores, while outdoor applications include automotive navigation, mobile & the internet, public sector agencies, and enterprises. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the digital map market are Apple Inc., Google LLC, HERE, Alibaba Group Holding Limited, TomTom International BV, MiTAC International Corporation and ARC Aerial Imaging Limited, Esri, Nearmap Ltd., and MAPQUEST. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the digital map market globally. For instance, in January 2023, Apple launched a new parking feature to its Maps application which provides users with parking options and availability near a specific destination. The tech giant launched the feature in partnership with the US-based digital parking reservation platform, SpotHero In addition, in May 2022, Google launched new features and tools, including updates for search, new Maps presentation tools, improved ad formats, shopping advances, secure payment options and more. Similarly, in January 2023, HERE launched UniMap, a revolutionary, highly automated mapping technology that enables rapid creation of digital maps and location products. UniMap is designed to deliver unmatched levels of map freshness, quality and coverage.
Key Market Insights
- By component, the solution segment was the highest revenue contributor to the market in 2022, and is estimated to reach $54,041.25 million by 2032, with a CAGR of 14.4%. However, the service segment is estimated to be the fastest growing segment with the CAGR of 17.3% during the forecast period.
- By application, the outdoor applications segment dominated the global market share in 2022, and is estimated to reach $59,218.64 million by 2032, with a CAGR of 14.0%, However, the indoor application segment is expected to be the fastest growing segment with the CAGR of 18.9% during the forecast period.
- Region wise, North America was the highest revenue contributor, accounting for $7,906.29 million in 2022, and is estimated to reach $18,501.62 million by 2032, with a CAGR of 9.0%.
Companies Mentioned
- TomTom International BV
- ESRI
- Alibaba Group Holding Limited
- Apple Inc.
- MapQuest
- Nearmap Ltd.
- ARC Aerial Imaging Limited
- MiTAC Holdings Corp.
- HERE Technologies
- Google LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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