Dublin, April 08, 2022 (GLOBE NEWSWIRE) -- The "Global Digital Map Market with COVID-19 Impact Analysis by Component (Solutions, Services), Mapping Type (Outdoor Mapping, Indoor Mapping), Application, Industry Vertical, and Region (North America, Europe, APAC, MEA, Latin America) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The Digital Map Market size to grow from USD 19.2 billion in 2021 to USD 37.0 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.1%
Various factors such as increasing spending on adoption of newer technologies, changing landscape of customer intelligence to drive the market, and proliferation of customer channels are expected to drive the adoption of Digital Map technologies and services.
Digital maps primarily consolidate navigation, routing, and other allied capabilities and streamline geospatial services. End-users of digital maps include natural resource companies, logistics partners, governments, and homeland security. Today, most of the drivers use maps for navigation purposes, such as to position themselves, plan journeys, and decide the shortest possible routes.
However, human driving is expected to be gradually replaced by in-vehicle automated systems, leading to greater demand for digital maps. The maps designed for machines are highly accurate and realistic and provide an exact representation of roads. These maps are commonly referred to as High-Definition (HD) maps.
The digital map market is expected to grow owing to several factors, such as the increasing availability of spatial data and analytical tools, growing focus on Business Intelligence (BI), intensifying market competition, and decreasing cost of solutions. Additionally, technological advancements, such as the global deployments of 3G and 4G wireless services, have created ubiquitous connectivity.
The enhancement of connectivity technologies, supplemented by the growing interest in personalizing services based on users' location information, has boosted the growth of the digital map market. Moreover, the realization of cost benefits by deploying solutions for organizational assets covering both personnel and vehicle tracking and management is expected to drive the growth of the market.
The GPS-Enabled Services solution segment to have the highest CAGR during the forecast period
By solutions, the digital map market has been segmented into mapping data, web mapping and GPS-Enabled Services. The CAGR of the GPS-Enabled Services solution is estimated to be the largest during the forecast period. Global positioning solutions are mainly defined as a set of services that provide hand-maps with incorporated routing, traffic updates, and other support functions. Automated Driver Help Service (ADAS), automated vehicles, linked mapping, brake assist, and others are among the key use case scenarios for GPS-enabled services.
The Cross-Platform Support segment to hold higher CAGR during the forecast period
The digital map market has been segmented by services into consulting, Cross-Platform Support and Deployment and integration. The market for Cross-Platform Support is expected to register a higher CAGR during the forecast period. Cross-platform support services help in the maintenance of digital map solutions that have been implemented along with several platforms. In addition, facilities inspections, and education, as well as round-the-clock assistance for modern infrastructure map software, are included in the maintenance and support services.
Among regions, APAC to hold highest CAGR during the forecast period
APAC is expected to grow at a good pace during the forecast period. The region will be booming, as it is experiencing a lot of new entrepreneur setups, who are adopting the newer technologies to have a competitive advantage over the established players. China, Japan, and India have displayed ample growth opportunities in the digital map market.
Competitive Landscape
Some of the major players exercising active dominance in the digital map market include Google Inc. (Google), TomTom International BV (TomTom), Esri, HERE Technologies (HERE), Digital Map Products Inc., Nearmap, Apple Inc. (Apple), MapQuest, and INRIX Technology, Inc.
Premium Insights
- Growing Number of Applications to Support Market Growth
- Infrastructure Development and Construction Vertical Expected to Account for the Largest Market Size in 2021
- Routing and Navigation and Infrastructure Development and Construction Segments Expected to Account for Large Market Shares
Market Dynamics
Drivers
- Rising Adoption of Mobile Computing Devices for Navigation
- Significant Growth in the Use of Geospatial Information
Restraints
- Lack of Expertise
- Regulations and Legal Issues
Opportunities
- Rising Demand for Real-Time Mapping of Data
- Increasing Implementation of 5G Networks
Challenges
- User Privacy and Security Concerns
- Digital Map Market: COVID-19 Impact
Digital Map: Evolution
Case Study Analysis
- Energy and Utilities Case Study: Environmental Preservation with Crystal Clear Imagery
- Transportation and Logistics Case Study: Stantec Leads in Digital Transformation
- Oil & Gas Case Study: Supporting the Entire Process with Gis
- Manufacturing and Mining Case Study: Siemens Reaches Business Goals of Automation and Digitalization with Servicenow
- Telecom Case Study: Using Gis and Geospatial Data for Mapping and Customer Service in Telecommunications
- Healthcare Case Study: Vitas Uses Servicenow to Improve Patient and Employee Experiences
- BFSI Case Study: Providing a Better Customer Experience Using Digital Solutions
- Transportation and Logistics Case Study: Fast-Tracking Rail Incident Response
Technology Analysis
- Ai and Digital Map
- Ml and Digital Map
- IoT and Digital Map
- Cloud Computing and Digital Map
- Blockchain and Digital Map
Regulatory Implications
- Sarbanes-Oxley Act of 2002
- General Data Protection Regulation
- California Consumer Privacy Act
- International Organization for Standardization 27001
- Personal Data Protection Act
- Open Geospatial Consortium
- World Wide Web Consortium
Company Profiles
- Alibaba Group
- Apple
- Caliper Corporation
- Emapa
- Esri
- Geocento
- Geospin
- Geoverra
- Here Technologies
- Indooratlas
- Inpixon
- Inrix
- Lightbox
- Mapidea
- Mapmyindia
- Mapquest
- Mapsted
- Meta
- Nearmap
- Oneview
- Orbital Insight
- Servicenow
- Tomtom
- Urthecast
For more information about this report visit https://www.researchandmarkets.com/r/rdq5lc
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