Digital Map Market offers overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
Digital map market is anticipated to witness a CAGR of 15.0% over the forecast period. Growth in application for advanced navigation system in automotive industry, surge in demand for Geographic Information System (GIS), and increased adoption of connected devices and internet are some of the major factors driving growth of the digital map market. Logistics and transportation sectors are also deploying advanced digital map solutions to augment their operations through reduced up-time and finding effective delivery routes.
– In the recent years, digital map technology has find potential place in various industries such as energy & power, automobile, logistics, transportation, government, construction, telecommunication, and others, offering advanced GIS, map analytics and real-time tracking systems.
– Additionally, digital map technology offers end-to-end map solutions such as location information, real-time update, technology collaboration, and analytics approach for better geo mapping outputs. As internet and connected devices such as smartphones, tablets and interactive displays are experiencing higher adoption for map based applications among global population, the market for digital map is expected to grow at a healthy rate in the coming years.
Scope of the Report
Digital map market is the digital representation of geographic maps of any territory, city, state, country, or total globe. The market study scope of digital map include all map related solutions such as GIS, integrated location solution, visualization and mapping tools, analytics, map architecture solution, and others.
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Key Market Trends
Surge in Demand for GIS to Influence the Adoption of Digital Map Technology
– Geographic Information System (GIS) is one of the major technologies in digital map solution. As the GIs vendors are coming up with mobile-based geospatial sensor platforms, digital map solutions are becoming more advanced with vector development and map simulation techniques.
– Expanding telecom networks and wireless connectivity is leveraging GIS powered maps to gain more user accessibility and real-time map execution. Data analytics is also one of the emerging areas to augment the application of GIs with spatiotemporal data and multidimensional connectivity.
– According to Geospatial Media and Communications Pvt. Ltd., an internationally accredited organization for geospatial technology, the global GIS software market will reach USD 17.9 billion by 2020. GIS technology advances digital mapping capability with simulation forecasting, planning, landscape analysis, mobility management and object tracking, which in turn is anticipated to fuel the growth for digital map solution in the forecast period.
Asia-Pacific is the Fastest Growing Region for Digital Map Market
– Countries including India, China, Singapore, Japan, Australia, and South Korea have seen a major shift in technological adoption in recent years. Increased utilization of digital map solutions for e-commerce applications, mobile data coverage, urban planning, supply chain & logistics management, and environmental monitoring in all these Asian countries will influence the adoption of digital maps in the coming years.
– As developing economies, China and India are building their road network to reciprocate the logistic demand for the fast movement of goods and raw materials. In August 2018, approximately 8,130 km of Chinese expressways were added to the country’s toll road network. China’s growth at 6.5% of the year-on-year rate in road construction can be a great opportunity for the digital map solution provider in the region.
– Additionally, increased automobile applications for digital maps are influencing the market growth in the region. The recent partnership between TomTom International B.V. and Nissan Motor Co., Ltd. (Japan) for the autonomous connected system is expected to create potential space for digital map solutions in the coming years.
As some regional, as well as global players, are dominating the market with their technological expertise in digital map solutions, the global market for the digital map is expected to be consolidated in nature. Collins Bartholomew Ltd, Digital Map Products, Inc., Digital Mapping Solutions, DMTI Spatial, ESRI Business Information Solutions, Inc., Google LLC (Alphabet Inc.), HERE Technologies, Lepton Software, Mapbox, MapData Services Pty Ltd, Maxar Technologies (DigitalGlobe), ThinkGeo LLC, and TomTom International B.V. are some of the major players present in the current market. However, all these players are involved in competitive strategic developments such as partnerships, new product innovation and market expansion to gain leadership positions in the global digital map market.
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