Digital Map Market Report

Market Insights

The Digital Map market is projected to grow from USD 8.1 billion in 2020 to USD 17.0 billion by 2026 at a CAGR of over 13.4% during the forecast period.

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the digital map market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026.

Figure: Digital Map Market Size, 2020-2026 (USD Billion)

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A digital map, also referred to as cartography is an electronic map, whose operation is based on a combination of graphic elements which is assigned to it in the form of electronic information. It is mainly based on naturally harvested and processed into digital cartographic data. Digital mapping is a process of collection & compilation of data to form a virtual image.

Key Players

The key players operating in the digital map market are-

• Google (US)
• TomTom (Netherland)
• Esri(US)
• Here (Netherlands)
• Digital Map Products Inc.(US)
• Nearmap(Australia)
• Magellan(US)
• Apple (US)
• Mapquest (US)
• Intrix (US)

Market Dynamics

Significant rise in the number of smartphone and internet users coupled with growing usage of 3D platforms & advanced technologies for making and surveying of digital maps are expected to boost the market growth. Moreover, surging adoption of real-time digital maps provides a strong opportunity for the digital map players. However, stringent regulations, substantial growth in adoption of free crowdsourcing digital maps, and legal challenges are likely to limit the industry growth.

Segment’s Analysis

Type Trends

Based on type, the digital map market has been classified into GIS, LiDAR, digital orthophotography, aerial photography, and others. Under these, the GIS segment held a significant market share in 2020 owing to rising usage of digital maps in urban development and city infrastructure planning. Also, other uses of digital maps such as monitoring of natural resources, disaster management, and assessment of the impact of environmental initiatives boosts the segment growth.

Regional Trends

By region, the North America market held the highest market share in 2020 and is projected to grow at a healthy CAGR in the coming years. This is ascribed to many sectors such as automotive and mobile devices are using digital technology for end-to-end map solutions such as location information, real-time update, technology collaboration, and analytics for better geo mapping outputs, which bolsters the regional market growth during the review period.

COVID-19 Impact on Digital Map Market

The COVID-19 pandemic has positively impacted the digital map industry. Growing demand for up-to-date digital mapping data during the pandemic is expected to change industry trends. The adoption of digital map technology has been significantly useful in tracking vaccination rates as well as contact tracing, thus boosting the market growth, amid the pandemic.

Critical Questions Answered in the Report

• What are the key trends in the digital map market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on digital map market?
• What are the key strategies adopted by the major vendors to lead in the digital map market?
• What is the market share of the top vendors?

Target Audience

The target audience of Digital Map Market includes-

• Digital Map companies
• Digital Map distributors
• GPS companies
• Government organizations