Digital Map Market -Overview
The increased movement of the individual for work or personal reasons is estimated to have a considerable bearing on the Digital Map Industry 2020. The packaging and transport industry reports are produced by Market Research Future, which highlights market options for expansion. A steadily rising CAGR is estimated to shape the market in the impending period.
The use of digital maps is rising with increased travel by individuals in unfamiliar areas; this factor is expected to boost the map market globally. Moreover, the need for maps in the tracking of natural disasters and other environmental emergencies is predicted to promote the Digital Map Industry in the upcoming period.
Key Players:
Digital Map Products (US), TomTom (Netherlands), OpenStreetMap (UK), AutoNavi (China), and Digital Mapping Solutions (Australia), MapMan (UK), ARC Aerial Imaging Limited (UK), MapmyIndia (India), Microsoft (US), Living Map (UK), NavInfo (China), Mapbox (US), INRIX (US), MiTAC International Corporation(Taiwan), MapQuest (US), MapSherpa (Canada), Google (US), DigitalGlobe (US), Apple (US), Automotive Navigation Data (Netherlands), Esri (US), Nearmap (Australia), HERE (Netherlands), and ARC Aerial Imaging Limited (UK).
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Market Segmentation
The global Digital Map Industry is segmented based on type, functionality, application, technology, and vertical.
The market based on type is bifurcated into services and solutions. The segmentation of the market based on functionality is done into scientific, GPS navigation, and computerized. The application segment comprises of indoor and outdoor applications. The technologies deployed in the market are GIS, digital orthophotography, aerial photography, and others. The industry verticals that are adopting digital maps are automotive, aerospace and defense, smartphones, and others.
Industry Update
April 2020: Wiivv has started using digital mapping technology for their new project named ‘paaww custom pet insoles.’ Under this project, Wiivv is manufacturing insoles for dogs by digitally mapping 200 points on each of the dog’s four paws using a mobile application and then using that data to design an insole to fit the dog perfectly.
Detailed Regional Analysis
The market An increase region has been segmented into Europe, North America, Asia Pacific, and the rest of the world. The North American digital map market is expected to witness substantial growth over the review period and acquire a significant market share. The massive demand for digital maps across the end-user industry verticals such as logistics, automotive, defense, among others, for simplifying decision making has fuelled the growth of the market. This trend is slated to continue in the upcoming years. The technological advancements and merging of key market players in the region are expected to have a promising influence on the expansion of the market in the region.
Europe is also a vital growth pocket and is predicted to exhibit substantial growth in the upcoming years. The Asia Pacific resonates with steady opportunities for growth currently. The signifcant increase in the purchase of vehicles along with large-scale penetration of smartphones is poised to drive the proliferation of the market in the region. The Rest of the World is expected to witness an upsurge in the usage of the digital map over the next few years.
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