[111 Pages Report] The global 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. A significant growth driver for the market is growing adoption of mobile computing devices for navigation, wide adoption of 3D platforms, and advanced technologies for surveying and digital map-making

Attractive Opportunities in the Digital Map Market



Source: Investor Presentation, Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

Helped a leading location based service provider that specializes in offering mapping services in APAC and Europe to understand the market competitiveness by identifying opportunities across verticals in aforementioned regions. Client�s Problem Statement A leading provider of location based services was keen to understand the competitive landscape, regional trends, and current and upcoming technology trends in the digital maps market across Europe and APAC. The client was also looking forward to increase its market share in aforementioned regions. MnM Approach MNM started by identifying key disruptive technology trends and their subsequent players in the market in order to understand their offerings in the market.The detailed competitive landscape for Europe and APAC along with the benchmarking of the key vendors were analyzed as per the client requirements. The comprehensive list of current and upcoming developments in the digital map technology in the targeted regions was listed with their potential market opportunities. Market sizing and forecasting across industry verticals such as agriculture, oil and gas, government and homeland security, logistic, travel and transportation were formulated in a granular manner. This has helped the client target opportunities worth USD 4 million to USD 5 million in Europe and APAC. Revenue Impact (RI) MNM assisted the client to tap into Europe and APAC market, with a projected revenue of USD 4 million to USD 5 million in three years from our recommendations. Consult our Analyst now

In vertical segment infrastructure development and construction segment to hold a larger market size in 2019

Digital map solutions play an essential role in the construction and engineering companies, as they support all phases of the infrastructure life cycle. Also, these solutions help construction engineers manage and share data, generate reports, and visualize territory data, which can be analyzed and communicated to others. Digital maps help increase safety measures and reduce the maintenance costs of the network. For instance, London created a digital map of the underground infrastructure, including gas and water pipes along with electricity and telecommunication cables, which helps safeguard workers� lives and reduce the cost of damages to utilities, such as pipes and cables.

By Mapping type, indoor mapping to register a higher growth rate during the forecast period

Indoor mapping is deployed primarily for big complexes, such as hospitals, residential areas, townships, shopping malls, and warehouses. The methods and techniques used in indoor location applications enable accurate 2D and 3D mapping, and navigation. Vendors have started deploying digital maps for indoor infrastructures, due to the growth in concentration in smart city infrastructures and the surge in enhancing the digital experience.





Asia Pacific (APAC) to register the highest growth rate during the forecast period

The APAC digital map market is experiencing a disruptive growth, owing to its rapidly growing number of internet subscribers and consumption of internet over smartphones and other portable devices. The market is expected to grow at an even higher rate than present due to the ever-increasing consumption of content in major APAC economies such as China, India, Australia, Japan, Singapore, and Hong Kong are the major contributing factors for the growth of the digital map market in this region. Moreover, the massive growth in the agriculture, oil, and gas, and Other natural resources industry have fueled the growth of market, making APAC one of the fastest-growing regions in the markets.

Market Dynamics

Market Driver: Wide adoption of 3D platforms and advanced technologies for surveying and digital map-making drives the digital map market

3D maps are built using high-quality geographic data, enabling to create 3D visualizations, run simulations, and develop dynamic location-based experiences and games to enhance the customer experience. Moreover, the use of LiDAR and orthophotography has improved the accuracy of the analysis that is provided by digital mapping professionals, thereby reducing the costs associated with supply chain, logistics, disaster management, and infrastructure development across the globe. These 2 technologies are the most widely used methods for data collection, due to various benefits offered by them. The adoption of 3D modeling and digital elevation models is expected to increase the use of these technologies during the forecast period. With advancements in these technologies, companies have introduced web services and mobile applications for maps that provide detailed information and real-time updates to users. Technologies based on augmented reality utilize GIS information and 3D platforms to provide virtual information about users and their surroundings. This information helps enterprises understand the needs of users and send customized advertisements. In addition, the use of logistics and supply chain management 3D platforms and management software increase the efficiency and minimize the costs associated with operational processes.

Market Restraint: Legal and regulatory policies limiting the development of the digital mapping technology

Legal and regulatory challenges are one of the top points that are limiting the development of the digital mapping technology. Legal issues are affecting the restrictions in the data collection process, location privacy, licensing, intellectual property rights, use of geospatial information, and storage of geospatial data. Any country�s regulations put national security on priority and limit the use of geospatial information. For instance, in May 2016, the Ministry of Home Affairs of the Government of India passed the Geospatial Information Regulation Bill. The objective of this bill was to regulate the acquisition, publication, and distribution of geospatial information of India that affects the security, sovereignty, and integrity of the country. Since the advent of restrictive mapping policies, numerous incidents have come forth, in which companies have faced legal actions for violating such policies. In the US, government regulations have restricted the use of drones in locations, such as airports, Military Operations Areas (MOAs), stadiums, and government sites.

Market Challenge: Lack of expertise and skilled professionals in digital mapping solutions

Most of the organizations that use location-based solutions and analytics struggle to optimally utilize the full potential of digital mapping technologies, as they lack expertise and well-skilled technicians who can deal with digital spatial data and the occurring issues. The lack of appropriate knowledge and awareness has been a barrier in digital mapping solutions and acts as a factor responsible for the slow adoption of the technology. Hence, increasing knowledge-sharing and awareness among customers through different means, such as company blogs, forums, industry conferences, and RoI analysis, could help in fueling the market adoption and growth of the digital maps market, globally.

Market Opportunity: Emergence of cloud technology and big data in digital mapping solutions

Cloud technology plays a pivotal role in distributing data, which enables interconnected communications. Most of the digital mapping solutions are robust, and GIS professional and developer prefer API since related data is stored in the cloud. Moreover, integrating cloud-based solutions offer significant cost-savings compared to in-house storage. The public sector organizations have been adopting cloud computing to manage large volumes of geospatial information generated from the GPS, GIS, and remote sensing technologies. Big data is another important part of digital maps as several companies use predictive modeling-enabled big data, which helps them in developing strategies for their geographic territory operations. The public sector uses it to design disaster response plans, and the natural resource managers use it to analyze the recovery of wetlands after a disaster.

Key Market Players:

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).

Scope of the Report

Report Metrics Details Market size available for years 2017�2024 Base year considered 2018 Forecast period 2019�2024 Forecast units Billion (USD) Segments covered Mode, Components, Deployment, Organization Size, End Users, Verticals, and Region Geographies covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa Companies covered 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).

The research report categorizes the digital map market to forecast revenues and analyze trends in each of the following submarkets:

By component, the digital map market has the following segments:

Solutions

Services

By Mapping Type, the market has the following segments:

Outdoor Mapping

Indoor Mapping

By Solutions, the digital map market has the following segments:

Mapping Data

Web Mapping

GPS-enabled Services

By Services, the market has the following segments:

Consulting

Cross-platform Support

Deployment & Integration

By Applications, the Digital map market has the following segments:

Real-time Location Data Management

Geocoding & Geopositioning

Routing & Navigation

Asset Tracking

Others*

*Others include risk assessment and disaster management

By Vertical, the market has the following segments:

Agriculture, Oil & Gas, and Other Natural Resources

Infrastructure Development & Construction

Government & Homeland Security

Logistics, Travel, & Transportation

Others*

*Others include telecom and retail

By region, the digital map market has the following segments:

North America

US

Canada

Europe

UK

Germany

France

Rest of Europe

Asia Pacific

China

Japan

India

Rest of Asia Pacific

Latin America Mexico Brazil

Middle East & Africa Kingdom of Saudi Arabia United Arab Emirate



Recent Developments

In July 2019, Esri partnered with Mobileye to integrate advanced data collection capabilities of Mobileye into Esri�s platform as native service. The integration enabled Esri customers to visualize and analyze real-time HD maps.

In June 2019. TomTom collaborated with European Union Data Task Force (DTF) for innovative road safety solution by working on the Proof of Concept (PoC) to improve road safety; in PoC vehicles and infrastructure data are shared between countries and manufacturers. This technology enables vehicles to detect and warn occupants about dangerous road conditions

In November 2018, TomTom partnered with BMW to provide in-bike navigation app. The app provides visual directions on the bike�s integrated handlebar display, while audio directions are provided via Bluetooth into the rider�s compatible helmet.

In April 2019, HERE launched XYZ, a cloud-based service, which provides software developers and professional mapmakers with the tools needed for effortless map publication and data management

In February 2019, Magellan enhanced RouteComplete to offer a suite of routing technology solutions for the snow, waste, and street industries utilizing GPS navigation is coupled with vertical-specific requirements.

Critical questions the report answers:

Where will all these developments take the industry in the long term?

What are the upcoming trends for the Digital Map market?

Which segment provides the most opportunity for growth?

Who are the leading vendors operating in this market?

What are the opportunities for new market entrants?

Frequently Asked Questions (FAQ):

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