Digital Map Market Revenue, Growth Factors, Trends, Key Companies, Forecast To 2028

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.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1591

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.
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.

Segments covered in the report:

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

On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1591

Beneficial Aspects of the Report:

Global and region forecast of the Digital Map market from 2020-2027
In-depth analysis of market dynamics, industry outlook, market size based on types and applications
Details of value chain analysis, supply and demand ratio, production and consumption patterns
SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
Detailed insights on competitive landscape and emerging market trends

Research Methodology:

The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.

To read more about the report – https://www.reportsanddata.com/report-detail/digital-map-market

Thank you for reading our report. Reports and Data provides customization of the report as per the needs of the clients. For further inquiry on customization, please connect with us and our team will ensure the report is tailored to fit your requirements.

Have a Look at Related Reports:

Radiation-Tolerant Microcontroller Market Share

Voice over New Radio (VoNR) Market Scope

AI (Artificial Intelligence) Chip Market Forecast

3D Time-of-Flight Sensor Market Trends

Gaming Chipset Market Analysis

Contact Us:

John W

Head of Business Development

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Reports and Data | Web: www.reportsanddata.com