Increasing use of digital maps in the automotive industry is estimated to stimulate market growth.
New York, NY -- (SBWIRE) -- 04/22/2021 -- Digital Map Market Size – USD 5.52 billion in 2018, Market Growth - CAGR of 11.9%, Market Trends – Increasing use of smartphones
The global digital maps market is expected to reach USD 13.61 Billion by 2026, 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.
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The Key Companies Profiled in the Market are:
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.
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.
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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; 2016-2026)
Solution
Tracking & Telematics
Risk Assessment & Disaster Management
Route Planning & Optimization
Others
Service
Consulting
Development
Management
Technology Outlook (Revenue, USD Million; 2016-2026)
GIS
LIDAR
InSAR
Others
Functionality Outlook (Revenue, USD Million; 2016-2026)
Scientific
GPS Navigation
Others
Application Outlook (Revenue, USD Million; 2016-2026)
Indoor
Outdoor
Industry Vertical Outlook (Revenue, USD Million; 2016-2026)
Automotive
Energy & Utilities
Mobile Devices
Retail
Military & Defense
Government & Public Sector
Others
Regional Outlook (Revenue, USD Million; 2016-2026)
North America
U.S.
Europe
UK
France
Asia Pacific
China
India
Japan
Latin America
Brazil
MEA
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Digital Map Segmentation & Impact Analysis
4.1. Digital Map Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing use of digital maps in the automotive industry
4.2.2.2. Proliferation of internet connectivity
4.2.2.3. Increasing use of smartphones
4.2.2.4. Rapid increase in end-use adoption of digital maps
4.2.2.5. Technological advancements
4.2.3. Market restraints analysis
4.2.3.1. High investment in data collection
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
………….
Chapter 11. Competitive Landscape
11.1. Market Revenue Share by Manufacturers
11.2. Manufacturing Cost Breakdown Analysis
11.3. Mergers & Acquisitions
11.4. Market positioning
11.5. Strategy Benchmarking
11.6. Vendor Landscape
Chapter 12. Company Profiles
12.1. AutoNavi Holdings Ltd.
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Technology Insights
12.1.4. Strategic Initiatives
12.2. Apple Inc.
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Technology Insights
12.2.4. Strategic Initiatives
Continued……….
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