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    Digital Map Market Analysis

    Digital Map Market Analysis
    Report code - SR1867 Delivery - 2 Weeks
    Digital Map Market Size, Share, Trend, Forecast, & Industry Analysis: 2023-2028
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    Market Insights

    The digital map market is estimated to grow from USD 20.07 billion in 2023 and is likely to grow at a CAGR of 15.9% during 2023-2028 to reach USD 41.97 billion by 2028.

    Digital Map Market Snapshot

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    What is a digital map?

    A digital map is a computerized representation of geographical information, often created using geographic information systems (GIS) software. It typically includes various data layers such as roads, buildings, bodies of water, terrain, and points of interest. Digital maps can be accessed and manipulated using various electronic devices such as smartphones, computers, and GPS devices.

    They are commonly used for navigation, urban planning, resource management, and scientific research. Digital maps are constantly evolving and being updated with new data and information, making them a valuable tool for many industries and individuals.

    Digital Map Market Report Overview

    Market Size in 2028

    USD 41.97 Billion

    Market Size in 2023

    USD 20.07 Billion

    CAGR (2023-2028)

    15.90%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    The following are the key players in the digital map market-

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

    There is stiff competition in the market. The growth of the companies is directly dependent on industry conditions and government support. Also, there have been some major development strategies adopted by key players in the industry in recent years, which significantly influenced the competitive dynamics. For example:

    On 17 July 2023 TomTom, a mapping specialist, raised its full-year revenue and free cash flow forecasts after the roll-out of its new maps was well-received by the auto industry and generated better-than-expected quarterly results. The company's investments in maps and navigation technology for automated driving, which compete with Google Maps and HERE, are bearing fruit. TomTom now targets revenue of 570–600 million euros this year and sees free cash flow at 5% of revenue.

    Market Dynamics

    The digital map market is driven by a host of factors, some of which are noted below:

    • A significant rise in the number of smartphone and internet users coupled with growing usage of 3D platforms & advanced technologies for making and surveying.
    • The growing demand for geospatial information in recent years is driving the development of digital mapping technology.
    • Applications such as location data management, geocoding & geopositioning, routing & navigation, and asset tracking require real-time updates of routes and congestion.
    • Significant technological advances in digital mapping support these applications with data and information flows.
    • The growing number of businesses using location services for marketing and promotional purposes will spur demand growth in the years to come.

    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 and contact tracing, thus boosting the market growth, amid the pandemic.

    Restraint: Inadequate Expertise

    Organizations struggling with digital mapping technologies face slow adoption due to an inadequacy of expertise and knowledge. Increased knowledge-sharing through various channels could boost the digital map market adoption and growth.

    Opportunity: Increasing demand for real-time mapping of data

    Real-time maps enable companies to analyze and display streaming data, enabling faster decision-making and faster response. They also facilitate developers development of comprehensive mapping APIs and SDKs for tracking assets and vehicles. Real-time crime centers improve response, public safety, and daily tasks.

    Challenge: Users privacy and security issues

    Mobile device users rely on GPS and location mapping, allowing hackers to access accounts and download confidential information. Effective privacy measures are needed to limit GPS data distribution and protect user privacy. It was a serious privacy flaw that Apple fixed promptly.

    Segment Analysis

    By Type

    The market has been classified into GIS, LiDAR, digital orthophotography, aerial photography, and others. In 2022, GIS (Geographic Information System) dominated the digital map market with a share of more than 35% and is expected to propel market growth at a significant rate during the review period. This was due to the increasing use of GIS in urban development and city infrastructure planning, disaster management, monitoring of natural resources, and assessing the impact of environmental initiatives. The integration of traditional business analytics with GIS has also enabled businesses to effectively evaluate market demographics and develop their business intelligence systems.

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    Service Trends

    The market has been classified into Consulting, Development & Management. Development Segment dominated the market registering the highest market share of more than 65% in 2022 & It is anticipated that the segment will experience significant growth during the forecast period. The increasing demand for digital maps from businesses to conduct business analysis and generate market-specific insights is expected to drive the demand for development services worldwide. In addition to development services, industry service providers also offer a range of other services, such as data processing, system infrastructure development, integration and licensing, end-use applications, and web services. Several digital mapping service providers are also focusing on integrating digital maps into their customers' systems to create interactive and easily accessible digital maps.

    Application Trends

    The market has been classified into real-time location data management, geocoding & geopositioning, routing & navigation, asset tracking & others. The routing and navigation segment dominated the market registering a market share of more than 45% in 2022 and is projected to grow at a robust CAGR during the forecast period. The rapidly growing demand for routing and navigation in the automotive, mobile devices, and military and defense sectors has driven the demand for the digital map market. This is because digital maps are essential for these sectors to organize and understand real-time traffic information.

    On the other hand, the asset tracking segment is expected to be the fastest-growing segment of the digital map market during the forecast period. This is due to the technological advancements in logistics, travel, transportation, construction, and infrastructure development sectors. These advancements are leading to the increased adoption of asset-tracking solutions, which require digital maps to track the location of assets.

    Regional Insights

    North American digital map market held the highest share of more than 30% in 2022 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 updates, technology collaboration, and analytics for better geo mapping outputs, which bolsters the regional market growth during the review period.

    Regional Analysis

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    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-Depth analysis of the Digital Map Market 

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

     

    This report studies the digital map market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories:

    By Type

    • GIS
    • LiDAR
    • Digital Orthophotography
    • Aerial Photography
    • Others

    By Service Type

    • Consulting
    • Development
    • Management

    By Application Type

    • Real-time Location Data Management
    • Geocoding & Geopositioning
    • Routing & Navigation
    • Asset Tracking
    • Other

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico),
    • Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe),
    • Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific),
    • Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others).

    Target Audience

    Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

    • Distributors
    • Suppliers
    • Manufacturers
    • Logistics organizations
    • Government bodies

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    A digital map is a computerized representation of geographical information, often created using geographic information systems (GIS) software. It typically includes various layers of data such as roads, buildings, bodies of water, terrain, and points of interest.

    The market was estimated to grow from USD 20.07 billion in 2023 to reach USD 41.97 billion by 2028.

    The market is projected to grow at a CAGR of 15.9% during the forecast period.

    North America market held the highest market share of more than 30% in 2022 and is projected to grow at a healthy CAGR in the coming years.

    The key players operating in the market are Google (US), TomTom (Netherland), Esri(US), Here (Netherlands), Digital Map Products Inc.(US), Nearmap(Australia), Magellan(US), Apple (US), Mapquest (US), and Intrix (US).

    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.