At 18.2% CAGR, Digital Map Market size is Expected to reach USD 59.94 Billion in 2026, Says Brandessence Market Research
LONDON, May 17, 2021 /PRNewswire/ -- Digital Map Market size, was worth of USD 18.59 Billion in 2019 and is expected to reach USD 59.94 Billion in 2026, growing at a CAGR of 18.2% from 2021 to 2026. Increasing adoption of advanced technologies for surveying and digital map-making is the key factor driving the growth of Global Digital Map Market.
Global digital map market report covers prominent players are like key players in the market include Google, TomTom, Esri, Here, Digital Map Products Inc., Nearmap, Magellan, Apple, Mapquest, Intrix, Yahoo, AutoNavi, MapWise, Jibestream, Indoor Atlas, Mapillary and others.
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Digital mapping involves the collection and collection of data to create virtual images. It accurately represents a specific geographical area, main roads, rivers and airports, shopping complexes, restaurants, tourist attractions, and future signs and colors as hospitals in and around a particular area. It is also useful to calculate the total distance from one place to another as well as the total time required to get to the actual place considering the traffic. Digital mapping has become mainstream and opened up a whole new range of possibilities in recent years. The first map was used in 1507 with the name of America. Additionally, in the 17th, 18th, and 19th map become accurate and factual. Emerging in the 1970-80 decades, replacing traditional paper cartography with a single database of paper and displaying geographic information, this GIS digital system had maps with digital screens and digital memory as a display system. Moreover, the first appeared in the Sputnik era and experts were able to track satellites with shifts in its radio signals. They move the cars, ships, planes, mobile phones, etc. slowly and steadily.
The Covid-19 has shown a mixed impact om the growth of global digital map market. It has increased the demand of the digital map offerings for aiding in tracking Covid-19 across the world. However, its demand has shown a decline in the other industries like construction, agriculture and others as most of the activities are stopped due to lockdown globally.
The global digital map market report is segmented on the basis of component, mapping type, solution, services, and application, vertical and by regional & country level. Based on component, global digital map market is classified into solution and services. Based on mapping type, global digital map market is classified into mapping type outdoor mapping and indoor mapping. Based on solution, global market is classified into mapping data, web mapping and GPS-enabled services. Based on services, global digital map market is classified into consulting, cross-platform support and deployment & integration. Based on application, global market is classified into real-time location data management, geocoding & geopositioning, routing & navigation, asset tracking and others. Based on vertical, global digital map market is classified agriculture, oil & gas, and other natural resources, infrastructure development, construction, government & homeland security, logistics, travel, & transportation and others.
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News: India's Drone-Powered Digital Maps Project Begins In Maharashtra, Karnataka, Haryana
On September 15th, 2019 ; The Survey of India, with support from Department of Science and Technology (DST), has taken up the task of digitally mapping the length and breadth of the country over the next two years. The scientific department has set up three digital centres to generate digital topographic database and create a digital map of India across terrains to aid geo-information systems.
Global Digital Map Market Dynamics:
Increasig technological advancements in the automotive industry is one of the major factors driving the demand for the digital map product offerings. Digital maps have gained importance in navigation and self-driving car technologies that facilitate real-time mapping. Self-driving cars are no longer an idea of the future. Large vehicle manufacturers have already dropped or abandoned their driving features, which give the car the ability to drive itself. To operate safely, autonomous vehicles will need purpose-built HD map datasets, significantly more detailed information, and truth-ground accuracy than those found in current conventional resources. Other areas of automotive applications include advanced driver assistance systems (ADAS), fleet management, and logistics control systems. Tracking natural disasters, monitoring other environmental emergencies, and measuring the distance between places are some of the desired features of digital maps which contribute to the growth of the digital mapping market. For example, MapAction, a leading mapping organization for the humanitarian crisis, has deployed more than 100 Disaster and Emergency Mapping Specialists and has provided remote assistance to teams responding to many people since 2003. With a rich experience and in-depth understanding of all aspects of humanitarian information management, maps help organizations and governments around the world build and respond to disasters.
Moreover, the increasing adoption of advanced technologies for surveying and digital map-making and extensive adoption drive the market growth. And, the adoption of 3D modeling and digital elevation models is expected to increase the use of this technology. However, the costs associated with LiDAR, legal and regulatory policies may limit the development of the digital mapping technology and the market growth. In spite of that, the emergence of cloud technology and big data in digital mapping solutions may create more opportunities for the further growth of the market.
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North America Is Expected to Dominate the Global Digital Map Market
North America is expected to dominate the global digital map market owing to the early adoption of technological advancement and high investment in research and development activities in this region. The Asia Pacific is expected to witness a fastest growth in this market owing to increasing growth of agriculture, oil and gas, and other natural resources industries and rising adoption of connected cars and the rapid deployment of high-speed communication networks in this region. The increasing need for real-time cloud computing and fast cloud-car communication is creating a market for 5G-enabled connected cars. For example, as of 2018, agriculture employed more than 50% of the Indian workforce and contributed 17–18% to the country's GDP. North America is expected to dominate the digital map market.
Key Benefits for Global Digital Map Market Report–
Digital Map Market By Regional & Country Level:
Middle East and Africa
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