IMARC Group, a leading market research company, has recently releases report titled Digital MapMarket: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.The study provides a detailed analysis of the industry, including the global digital map market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the digital map market?
The global digital map market size reached US$ 4.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.1 Billion by 2028, exhibiting a growth rate (CAGR) of 14% during 2023-2028
What is digital map?
A digital map is a software solution available online that displays a specific geographical location, area, or road. It is created by collecting and formatting data into an image presented on a digital interface. It consists of graphical elements that provide information about water bodies, roads, and landmarks in a specific area. It can also be used to calculate distances between different locations. It offers numerous benefits, including scalability, accuracy, real-time information, interactivity, and ease of operation. As a result, the digital map finds extensive applications in smart parking, location intelligence, traffic and congestion management, navigation, and logistics management across the globe.
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What are the growth prospects and trends in the digital map industry?
The global digital map market is primarily driven by rising product utilization in the construction and engineering sectors as they help engineers implement safety measures and plan infrastructure more efficiently. Moreover, the increasing adoption of 3D platforms for surveying and digital mapmaking is positively influencing the market growth. Additionally, the rising reliance on mapping applications such as Google Maps and City mapper for directions and location-based searches due to the widespread use of smartphones and other portable devices has catalyzed the market growth. Furthermore, several key players are offering user-friendly features, such as traffic updates, roadblocks, and updated places of interest in maps, thereby contributing to the market growth. Other factors, including the increasing use of mobile computing devices for navigation purposes, rapid urbanization, and the development of user-friendly platforms, are also anticipated to drive the market further.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- GIS
- LiDAR
- Digital Orthophotography
- Aerial Photography
- Others
Breakup by Usage:
- Indoor
- Outdoor
Breakup by Solution:
- Software
- Services
Breakup by Deployment Mode:
- Cloud-based
- On-premise
Breakup by Application:
- Real-Time Location Data Management
- Geocoding and Geopositioning
- Routing and Navigation
- Asset Tracking
- Others
Breakup by End-Use Industry:
- Automotive
- Engineering and Construction
- Logistics and Transportation
- Energy and Utilities
- Military, Aerospace and Defense
- Others
Breakup by Region:
- North America (U.S. Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Apple Inc.
- Collins Bartholomew
- Digital Map Products Inc. (LightBox)
- Environmental Systems Research Institute Inc.
- Getmapping
- Google LLC (Alphabet Inc.)
- HERE Technologies
- MAPQUEST INC. (America Online)
- Maxar Technologies
- Nearmap
- ThinkGeo LLC
- TomTom International B.V.
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