Market Research Future published a research report on “Map Market Research Report-Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Map Market Overview
Digital mapping refers to a process of compiling and formatting a collected set of data into a virtual image. It is also known as digital cartography. The primary function of digital mapping is to produce maps which provide accurate representations of a particular area, with detailed main road arteries and other landmarks. It also enables the calculation of travel distance between two places. Even though digital mapping can be used in numerous computer applications, the primary use of this technology is with the GPS satellite network used in standard automotive navigation systems.
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The Map Market is estimated to register prominent growth in the foreseeable future, as per the MRFR report. The digital mapping technology is used by major players in the automotive industry for semi-autonomous and self-driven vehicles. Such extensive use of digital mapping technology is resulting in significant market growth during the forecast period. Additionally, increasing demand for geospatial services is another influential factor driving growth in the digital map market.
Digital mapping technology can cater to a vast array of services including traffic updates, fleet management, landmarks, and intersecting lanes, and can facilitate smooth deliverance of logistics services. The MRFR report projects augmentation of the Digital Map Market in the upcoming years. With the application of digital mapping technology in the disaster management for tracking is anticipated to push the digital map market to new heights. Further, the use of digital mapping technology in the identification of natural calamities like hurricanes and earthquakes is bound to influence the market positively.
Moreover, a rise in the number of business organizations that provide location-based services is likely to mushroom the adoption of digital mapping technologies, hence propelling market growth. Additionally, widespread adoption of smartphones and rapid penetration of internet is anticipated to proliferate the digital map market. Rising consumer reliance on digital mapping applications such as Google Maps has led to immense growth of the digital map market, globally.
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).
Market Segmentation
The global digital map market is segmented on the basis of type, application, functionality, technology, and vertical. Based on type, the digital map market is segmented into services and solutions. Based on functionality, the digital map market is segmented into scientific, GPS navigation, and computerized. By application, the digital map market is segmented into indoor and outdoor. By technology, the digital map market has been segmented into GIS, digital orthophotography, and aerial photography. Based on vertical, the digital map market is segmented into automotive, defense & aerospace, and smartphone.
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Detailed Regional Analysis
The global digital map market is likely to face rapid augmentation, as per the report published by Market Research Future (MRFR). Based on geography, the digital map market is segmented into North America, Asia Pacific (APAC), Europe, and Rest of the World (RoW). North America is anticipated to garner a significant market share for digital maps during the forecast period ending by 2023. Such growth can be accredited to a proliferated demand for digital maps across numerous end-user industries such as logistics, automotive, and defense. Further, technological advancements and the presence of many noteworthy players in the digital map market in the region are expected to promote substantial market growth during the assessment period.
Europe is anticipated to witness substantial growth in the foreseeable future. Asia Pacific is likely to exhibit immense growth opportunities due to a burgeoning automotive market in the region and rapid penetration of smartphones in the region. Rest of the World (RoW) is projected to witness a surge in the usage of digital mapping technologies in the upcoming years.
Industry Update
April 2019: 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.
Know More about this Report @ http://www.marketwatch.com/story/digital-map-market-2019-global-size-share-emerging-technologies-sales-revenue-segmentation-opportunity-assessment-future-plans-and-comprehensive-research-study-2023-2019-11-05
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