According to a research
report "Digital Map Market by Component, Mapping Type (Outdoor and Indoor),
Application (Real-time Location Data Management, Geocoding and Geopositioning,
Routing and Navigation, and Asset Tracking), Vertical, and Region - Global
Forecast to 2024", published by
MarketsandMarkets, the digital map market size is projected to grow from USD
13.9 billion in 2019 to USD 29.4 billion by 2024, at a CAGR of 16.2% from 2019
to 2024. Major growth drivers for the market include the growing adoption of
mobile computing devices for navigation.
Browse and
in-depth TOC on “Digital Map Market”
44
- Tables
31
- Figures
111
- Pages
Routing and navigation application to hold a larger market size during the forecast period
The routing and
navigation application is one of the widely adopted applications of digital
maps. With smart city initiatives, a large number of cities and other governing
bodies are promoting wide-scale adoption of digital maps through various integrated
platforms, such as ride-sharing, routing updates, traffic conditions, and
weather monitoring.
Infrastructure
Development and Construction Vertical to Hold the Largest Market Size During
the Forecast Period
Digital map solutions
play an essential role in the construction and engineering companies, as they
support all phases of the infrastructure life cycle. Moreover, these solutions
help construction engineers manage and share data, generate reports, and
visualize territory data, which can be analyzed and communicated to others.
North America to hold the
largest market size during the forecast period
North America is
witnessing advancement in mapping technology and the presence of tech giants,
such as Google, Apple, Mapbox, DigitalGlobe, and Magellan, which are the main
contributors to the growth of the digital map market in the region. Growing
adoption of digital map solutions in various industries, such as automotive,
energy and utilities, government and defense, and transportation, to achieve
submeter accuracy is contributing to the growth in this region.
Market Players
Major vendors covered in
the digital map market include Google (US), TomTom (Netherland), Esri(US), Here
(Netherland), Digital Map Products Inc.(US), Nearmap(Australia), Magellan(US),
Apple (US), Mapquest (US), Intrix (US)., Yahoo(US), AutoNavi (China), MapWise
(France), Jibestream (Canada), Indoor Atlas (Finland),and Mapillary (Sweden).
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Content Source: https://www.marketsandmarkets.com/PressReleases/digital-map.asp
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/digital-map.asp
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