Digital Map Market Size – USD 7.03 Billion in 2018, Market Growth - CAGR of 11.9%, Market Trends – Increasing use of smartphones

NEW YORK, NY, UNITED STATES, November 8, 2021 /EINPresswire.com/ -- Increasing use of digital maps in the automotive industry is estimated to stimulate market growth.

The global Digital Maps Market is expected to reach USD 17.18 Billion by 2028, according to a new report by Reports and Data. A digital map is an electronic representation of a traditional paper-based map, with all the similar information comprising points of interest, roads, conurbations, and boundaries, among others. Nevertheless, unlike the conventional maps, digital maps enable users to do a host of things to the map, including, add additional information such as a path, lane or new road, and using the map to calculate distances.

Increasing use of digital maps in the automotive industry is estimated to stimulate market growth. Digital maps are widely used for locating and tracking vehicles through GPS satellites. Autonomous cars have an array of sensors required to map the surroundings and provide precise location and movement data, which is processed by the car's central computer so it can make instant decisions. The better the initial digital mapping data, the fewer data the car will have to process and interpret.

Advancements in digital mapping technology are anticipated to drive the market growth in the forecast period. Geographic Information Systems (GIS), LIDAR, and InSAR, among others, can be used to incorporate and process spatial data for applications ranging from simple mapping to supporting resource exploration; from environmental supervision and management to the planning and administration of transportation and telecommunications systems, urban development, utility infrastructures, and land use. These advanced technologies can be effectively used to handle the present day intricate urban problems about optimum utilization of available resources and infrastructure management.

Key participants include AutoNavi Holdings Ltd., Apple Inc., Collins Bartholomew, DigitalGlobe Inc., Environmental Systems Research Institute (ESRI) Inc., Google, Getmapping PLC, MapData Services, HERE Holding Corporation, and Micello Inc., among others.

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Further key findings from the report suggest

• Tracking and telematics solutions are expected to have a significant growth rate in the forecast period and find application in vehicle tracking, oil and gas fleet management to enhance the security of safety workers, and manage construction fleets with GPS tracking for construction equipment, among others.
• LIDAR (Light Detection and Ranging), is a remote sensing technology that uses light as a pulsed laser to map structure comprising vegetation height, density, and other features across a region. These light pulses, combined with other data recorded by the airborne system generate accurate, 3D information related to the shape of the Earth and its surface characteristics.
• The outdoor application of digital maps held a larger market share in 2018 and is expected to grow at a rate of 11.2% in the forecast period as it assists in fleet management, environmental studies, land surveys, and disaster management, among others.
• Retail industry occupied a substantial market share in 2018 owing to the use of digital maps by several retailers to optimize their e-commerce data so that customers can explore products, make educated purchase decisions, and buy online.
• The market in the North America region contributed to the largest market share in 2018 owing to the growth of end-user industries in the region.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/digital-map-market

For the purpose of this report, Reports and Data have segmented the global digital map market on the basis of component, technology, functionality, application, industry verticals, and region:

Component Outlook (Revenue, USD Million; 2020-2028)

Solution
Tracking & Telematics
Risk Assessment & Disaster Management
Route Planning & Optimization
Others
Service
Consulting
Development
Management

Technology Outlook (Revenue, USD Million; 2020-2028)

GIS
LIDAR
InSAR
Others

Functionality Outlook (Revenue, USD Million; 2020-2028)

Scientific
GPS Navigation
Others

Application Outlook (Revenue, USD Million; 2020-2028)

Indoor
Outdoor

Industry Vertical Outlook (Revenue, USD Million; 2020-2028)

Automotive
Energy & Utilities
Mobile Devices
Retail
Military & Defense
Government & Public Sector
Others

Regional Outlook (Revenue, USD Million; 2020-2028)

North America
Europe
Asia Pacific
Latin America
MEA

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Market Report includes major TOC points:

• Digital Map market Overview
• Global Economic Impact on Industry
• Global Market Competition by Manufacturers
• Global Production, Revenue (Value) by Region
• Global Supply (Production), Consumption, Export, Import by Regions
• Global Production, Revenue (Value), Price Trend by Type
• Global Market Analysis by Application
• Manufacturing Cost Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Market Effect Factors Analysis
• Digital Map market Forecast

Conclusively, all aspects of the Digital Map market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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Tushar Rajput
Reports and Data
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