Digital Maps Market Forecast, 2020-2027: A $16+ Billion Industry Opportunity by 2027

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Apr 09, 2020, 11:15 ET

DUBLIN, April 9, 2020 /PRNewswire/ -- The "Digital Map Market Size, Share & Trends Analysis Report by Type (GIS, LiDAR, Aerial Photography, Digital Orthophotography), by Usage, by Services, by End Use, by Region, and Segment Forecasts, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The global digital map market size is estimated to reach USD 16.15 billion by 2027, registering a CAGR of 13% from 2020 to 2027.

The market is expected to witness significant rise in demand from navigational application developers and Geographical Information System (GIS) providers, driven by a growing end-user base. The prolific rise in the number of smartphone and internet users has further augmented market growth. Moreover, growth in the number of connected and semi-autonomous cars and anticipated developments in self-driving and navigation technology, among others is expected to drive the demand for digital maps.

Digital cartography has been gaining increasing attention in recent years owing to a rapid growth in demand for geospatial information. Applications such as smart parking, location, traffic and congestion intelligence, and logistics management need routing and congestion updates in real time. As digital cartography has been developing at a rapid rate, it can support these applications with data feeds and information. In addition, the increasing number of businesses that are using location-based services for marketing and advertising is also estimated to accelerate the demand in the forthcoming years.

Digital mapping is also finding renewed demand in the government and public sector as the demand for environmental and topographical information systems is on the rise. Furthermore, the need to maintain an updated information system for law enforcement officials, defense forces, and local governing bodies in light of recent manmade and natural threats is anticipated to propel the demand for maps.

Smooth interaction between maps and information systems is one of the most important criteria for product success in the market owing to which vendors are expected to focus more on data integration over the forecast period. As the digital map industry matures, key players are anticipated to indulge in mergers and acquisitions in order to keep abreast of the market developments and maintain a competitive edge in a rapidly evolving technological landscape.

Further key findings from the study suggest:

Digital orthophotography type is anticipated to emerge as the fastest-growing segment over the forecast period owing to the growth of image-processing, data analysis technology, and the increasing applications in multiple end-use segments such as automotive and mobile devices
Management services segment is expected to witness significant growth over the forecast period due to the growing demand for development, deployment, and integration of advanced digital maps for business analysis and earth mapping
Automotive end-use segment is expected to witness the highest growth over the forecast period owing to the increasing collaborations and partnerships between automotive manufacturers, in-dash navigation system providers, and digital map data providers for integration of advanced real-time navigation systems
Revenue generation models are estimated to differ considerably in the forthcoming years with some vendors opting for revenue generation from data and information sales, while others opting for location-based services. There is also a high probability of vertical integration in the industry
Developing regions are expected to witness exploration activities, whereas developed countries would witness a growth in demand for real-time data and information. Asia Pacific is the fastest-growing regional segment due to the growth in the number of smartphone users as well as the number of vehicles. Recent technological developments and rising demand for smartphones are the factors expected to have a profound effect on the Personal Navigation Devices (PND) market
The key digital map market participants include, ESRI, Inc., Google, Inc., DigitalGlobe, Inc., Apple Inc., HERE Holding Corporation, Getmapping PLC, Micello, Inc., and TomTom International B.V.

Market Dynamics

Drivers

Increased Adoption of Internet-Enabled Smartphones
Accelerated Use of Digital Maps in the Automotive Industry

Challenge

Updating Real-Time Information in Digital Map Datasets

Restraint

High Investments in Data Collection

Companies Mentioned

AutoNavi Holdings Ltd.
Apple Inc.
Maxar Technologies.
Environmental Systems Research Institute (ESRI), Inc.
Google LLC (Alphabet Inc.)
Getmapping PLC
HERE Holding Corporation
Intermap Technologies Corporation
NavInfo Co. Ltd.
TomTom International BV
Zenrin Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/fbyhub

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