Digital Map Market By Component (Solution, Service), By Application (Indoor Application, Outdoor Application): Global Opportunity Analysis and Industry Forecast, 2023-2032
The digital map, also called cartography, is an electronic map that operates based on a combination of graphic elements assigned to it in the form of electronic information. Digital mapping is a process of collection and compilation of data to form a virtual image. The compiled data is used to produce digital maps that exactly represent a particular geographical area or feature, including major rivers, roads, and important landmarks such as hospitals, airports, and so on. Digital mapping technology can also be used to calculate the distance between different places.
Increase in use of geospatial information, thus drive the growth of the market. In addition, advancements in technologies such as artificial intelligence (AI) and machine learning (ML) and rise of Internet of Things (IoT) devices and sensors generating location-based data drives the growth of the growth of the market during the forecast period. Furthermore, growing adoption of mobile computing devices for navigation, wide adoption of 3D platforms, and advanced technologies for surveying and digital map-making are expected to propel the growth of the market during the forecast period. In addition, increasing demand for location-based services across various sectors such as transportation, logistics, and retail are utilizing digital maps to enhance their operations, improve customer experiences, and optimize resource allocation. This trend is driven by the growing prevalence of smartphones, GPS-enabled devices, and the need for real-time navigation and geospatial data.
However, data security and privacy concerns, and cost and accessibility constraints hamper the growth of the market. In addition, availability of free crowdsourcing digital maps and legal challenges also expected to restrict the growth of the digital map market. Despite the restraints, the digital mapping industry presents significant opportunities. The emergence of autonomous vehicles and smart cities creates a demand for highly detailed and accurate mapping data. Companies that can provide precise mapping solutions, including 3D and indoor mapping, stand to benefit from these opportunities. Furthermore, the expansion of e-commerce and the need for efficient last-mile delivery solutions provide avenues for digital mapping to optimize logistics and enhance supply chain management.Furthermore, the surge in adoption of real-time digital maps offers a strong opportunity for the digital map industry. Moreover, the rise of Internet of Things (IoT) devices and sensors is generating vast amounts of location-based data, further fueling the demand for advanced mapping technologies.
The digital map market is segmented into component, application, and region. By component, it is divided into solution and services. Based on application, this study includes indoor and outdoor applications. Indoor applications include airports, malls, and departmental stores, while outdoor applications include automotive navigation, mobile & the internet, public sector agencies, and enterprises. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the digital map market are Apple Inc., Google LLC, HERE, Alibaba Group Holding Limited, TomTom International BV, MiTAC International Corporation and ARC Aerial Imaging Limited, Esri, Nearmap Ltd., and MAPQUEST. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the digital map market globally.
KEY BENEFITS FOR STAKEHOLDERSThe study provides an in-depth analysis of the digital map market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on digital map market trends is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the digital map market from 2022 to 2032 is provided to determine the market potential.
Key Market SegmentsBy ComponentSolution
Service
By ApplicationIndoor Application
Indoor Application
Airports
Malls
Departmental Stores
Outdoor Application
Outdoor Application
Automotive Navigation
Mobile and the Internet
Public Sector Agencies
Enterprises
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
TomTom International BV
ESRI
Alibaba Group Holding Limited
Apple Inc.
MapQuest
Nearmap Ltd.
ARC Aerial Imaging Limited
MiTAC Holdings Corp.
HERE Technologies
Google LLC
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