Dublin, May 09, 2024 (GLOBE NEWSWIRE) -- The "Global Digital Map Market by Offering (Solutions and Services), Mapping Type (Outdoor Mapping, Indoor Mapping, and 3D and 4D Metaverse), Purpose (Navigation Maps, Satellite Maps, Thematic Maps), Scale, Application, Vertical and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global digital map market is expected to grow from USD 28.3 billion in 2024 to USD 47.8 billion by 2029, at a CAGR of 11.1% during the forecast period. The digital maps market has gradually gained traction in many sectors, including government & defense, automotive, travel, transport and logistics, retail, manufacturing, finance, and many others, by integrating extensive geographic information systems, location analytics, and real-time GPS tracking.
Furthermore, digital map systems enable end-to-end map solutions, including geographical data, real-time updates, technological integration, and an analytics approach for improved geographical map-based results. Administrations constantly seek an upsurge to enhance professional process efficiency and improve marketing activities. Firms are cohesively adopting and implementing digital map solutions and services to their existing systems. The solutions segment is primarily deployed by building blocks, which include APIs and SDKs, analytical platforms, and other connected data.
As per the Scale, Large Scale Maps are expected to hold a larger market size during the forecast period
Large-scale digital maps aid architects and urban designers in site analysis, building layout, and architectural design. They provide accurate depictions of existing conditions and help visualize proposed developments. Engineers use large-scale digital maps for infrastructure planning, design, and construction. These maps assist in assessing terrain, analyzing drainage patterns, and determining suitable locations for roads, bridges, utilities, and other infrastructure.
As per offerings, the digital map services will grow at the highest CAGR during the forecast period
By automating processes, companies use data map solutions to maintain high efficiency and lower costs. With the support of agile solutions, companies must ensure that their unique and customized needs are fulfilled. Consulting, deployment, and integration services in digital mapping involve providing expert guidance, assistance and support to organizations in effectively implementing and leveraging digital mapping technologies. These services help organizations navigate the complexities of digital mapping solutions, optimize their use, and integrate them seamlessly into existing workflows and systems.
Based on region, the Asia Pacific region will grow at the highest CAGR during the forecast period
The digital maps market in the Asia Pacific region is expected to grow at the highest growth rates between 2024-2029. The digital map market in the Asia Pacific region is experiencing rapid growth, fueled by factors such as rapid urbanization, increasing smartphone penetration, booming e-commerce, government initiatives, emerging technologies like GIS and IoT, growing awareness of location intelligence, and collaborations between stakeholders.
With a surge in demand for accurate mapping solutions for urban planning, logistics, smart city development, and emerging technologies like autonomous vehicles, the market is set to witness quick growth rates. This growth trajectory is further supported by the region's dynamic business landscape and the ongoing digital transformation across industries, making Asia Pacific a key battleground for digital mapping companies seeking expansion opportunities.
Research Coverage
The market study covers the digital map market across segments. It aims to estimate the market size and the growth potential of this market across different market segments, such as offering, mapping type, purpose, scale, application, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Some of the significant vendors offering digital map solutions across the globe include Google (US), Apple (US), TomTom (Netherlands), Esri (US), Here Technologies (Netherlands), Nearmap (Australia), Inrix (US), Lightbox (US), ServiceNow (US), Inpixon (US), Microsoft (US), and Maxar Technologies (US).
Key Attributes
| Report Attribute | Details |
| No. of Pages | 315 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $28.3 Billion |
| Forecasted Market Value (USD) by 2029 | $47.8 Billion |
| Compound Annual Growth Rate | 11.1% |
| Regions Covered | Global |
Premium Insights
- Shift Toward GPS-Enabled Solutions, Connected Vehicles, and Navigation Apps to Drive Market Growth
- Solutions Segment to Account for Larger Market Share During Forecast Period
- Mapping Data Segment to Account for Largest Market Share During Forecast Period
- Consulting Segment to Account for Largest Market Share During Forecast Period
- Outdoor Mapping Segment to Account for Largest Market Share During Forecast Period
- Navigation Maps to Account for Largest Adoption in Digital Map Market During Forecast Period
- Large-Scale Maps to Account for Larger Adoption in Digital Map Market During Forecast Period
- Routing and Navigation to Account for Largest Share of Digital Map Market During Forecast Period
- Travel, Transportation, and Logistics Vertical to Account for Largest Market Share in 2024
- Asia-Pacific to Emerge as Best Market for Investment in Next Five Years
Market Dynamics
- Drivers
- Rise in Smartphone and Internet Usage Driving Demand for Digital Maps
- Growth in Usage of 3D Platforms Reshaping Map Visualization and Accuracy
- GIS Leverages AI & ML Integration, Enabling Personalized Services and Complex Spatial Analysis Tasks
- High Emphasis on Real-Time Guidance, Route Options, and Nearby Amenities via Advanced Navigation Systems
- Growing Demand for Location-based Services (LBS)
- Restraints
- Risk of Unauthorized Access and Data Breaches
- Regulations and Legal Issues
- Opportunities
- Geospatial Data Analytics Driving Optimized Resource Allocation and Sustainable Development
- Increase in Focus on SDKs and APIs, Empowering Indoor Mapping Solutions
- Integration of IoT and Smart Cities, Allowing Informed Decision-Making, Predictive Maintenance, and Real-Time Monitoring
- Increase in Implementation of 5G Networks
- Challenges
- High Initial Investment and Maintenance Costs
- Limited Infrastructure and Internet Access in Underdeveloped Countries
- Technical Difficulties with Reliability and Quality of Data
Case Study Analysis
- Google Map Helped ABAX to Decrease Fleet Fuel Consumption
- Ohio Used ESRI's GIS to Bridge State's Digital Divide
- Alto Endeavored to Improve Overall Efficiency and Reduce Operational Expenses Through Google Maps
- TB Int Got Faster and More Efficient Ecommerce Warehouse Processes Through Intranav
- PhonePe Enhanced User Experiences with Mappls Maps SDK for Seamless Nearby Merchant Discovery
- Airspace Generated Prototypes of Data Analytics and Metrics Through ArcGIS Insights
Companies Featured
- Apple
- TomTom
- ESRI
- Here Technologies
- Nearmap
- Inrix
- Lightbox
- Servicenow
- Inpixon
- Microsoft
- Maxar Technologies
- Emapa
- Dabeeo
- Caliper Corporation
- Mapmyindia
- Geoverra
- Orbital Insight
- Digimap
- Mapquest
- Indooratlas
- Mapsted
- Mapidea
- Geocento
- Geospin
- Jawg Maps
- Barikoi
For more information about this report visit https://www.researchandmarkets.com/r/imvdy9
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