The global digital map market is anticipated to grow at a significant CAGR of 14.3% during the forecast period. Digital map technology offers end-to-end map solutions such as location information, real-time update, technology collaboration, and analytics approach for better geo-mapping outputs. The major factor driving the growth of the global digital map market during the forecast period is the increasing technological advancements along with increasing demand for digital maps in several industries across the globe. For instance, in July 2021, the Ministry of Electronics and IT (MeitY) has integrated service of MapmyIndia to enable people to locate government facilities such as ration shop, mandis, Indian oil petrol pumps, gas stations, among others on digital maps.
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Furthermore, the growth of the market can also be attributed to the growing need for a better viewer experience as well as the rising demand for real-time mapping of data. For instance, in September 2019, the government of India announced the initiation of a project to digitally map the country with a resolution of 10 centimetres by using drones and technologies such as Artificial Intelligence and big data. However, the lack of expertise may hamper the growth of the market.
The major companies serving the global digital map market include Apple Inc., Google LLC, Here Technologies, MapQuest, and Nearmap, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, and geographical expansion, to stay competitive in the market. For instance, in February 2019, HERE Global B.V. introduced a map named “HERE Cellular Signals” to showcase updated information about the performance of mobile networks on roads for 196 countries to help the telecom solution provider to manage their telecom network effectively for better customer satisfaction.
Global Digital Map Market Report by Segment
By Type
- Outdoor Mapping
- Indoor Mapping
By Component
- Solutions
- Services
By Application
- Real-Time Location Data Management
- Geocoding and Geo-Positioning
- Routing and Navigation
- Asset Tracking
- Others
By Vertical
- Energy & Utilities
- Automotive
- Oil & Gas
- Building & Construction
- Government
- Travel & Transportation
- Others
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Digital Map Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· Alibaba Group Holding Ltd.
· INRIX, Inc.
· Inpixon
· LightBox Holdings, L.P.
· Meta Platforms, Inc.
· Maxar Technologies
· MapData Services Pty Ltd. (Esri Australia Pty Ltd.)
· ServiceNow, Inc.
· The Esri
· ThinkGeo LLC
· TomTom International BV
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