In the era of digitization, digital maps have become an integral part of our daily lives. The Digital Map Market is flourishing as businesses and individuals rely on accurate and real-time geographic information. Advancements in geospatial technology, coupled with the rise of location-based services, have fueled the growth of this market. From navigation applications to urban planning, digital maps are at the forefront of transforming how we interact with our surroundings.
Competitive Landscape of Digital Map Market:
The Digital Map Market has experienced significant growth in recent years, driven by the increasing demand for location-based services across various industries. The market is characterized by the presence of several key players, each adopting distinct strategies to gain a competitive edge.
Key Players:
Strategies Adopted:
Factors for Market Share Analysis:
New and Emerging Companies:
Current Company Investment Trends:
Latest Company Updates:
October 26, 2023: Mapbox acquires Vizzuality, a 3D mapping startup - This acquisition aims to strengthen Mapbox's 3D mapping capabilities and cater to the growing demand for immersive experiences.
November 15, 2023: HERE Technologies partners with HERE Technologies to enhance real-time traffic data - This collaboration will provide drivers with more accurate and up-to-date traffic information, improving navigation and safety.
December 5, 2023: Esri launches ArcGIS Pro 3.5 with new features for spatial analysis and visualization - This update includes improved tools for data processing, modeling, and sharing, empowering users to gain deeper insights from their spatial data.
December 12, 2023: Google Maps introduces live bus tracking in select cities - This feature allows users to see the real-time location and arrival time of buses, making public transportation more convenient and predictable.
January 4, 2024: TomTom announces a new partnership with HERE Technologies to provide real-time traffic and road hazard information for autonomous vehicles -This collaboration aims to accelerate the development and deployment of safe and reliable self-driving cars.
The Digital Map Market Size was valued at USD 10.71 Billion in 2021. The Digital Map market industry is projected to grow from USD 16.22 Billion in 2022 to USD USD 25.3 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.70% during the forecast period (2022 - 2030). Digital mapping has gained widespread acceptance and has unlocked the way to a plethora of new opportunities. The digital map industry is on a strong development path and is expected to continue to expand at a rapid pace in the upcoming years. A much more accurate representation of a place is provided to users through the use of digital maps, which are constantly updated with data gathered from satellites and street-level info.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rising adoption of mobile computing devices for navigation boosts the market growth
The feature sets of mobile computing devices like smartphones and tablets are continually evolving and growing as a result of the quick development of new technology. Map software, which is now typically preinstalled on cellphones, is one of the most recent features. It's well known that smartphone users commonly utilize their devices' built-in mapping programs to navigate and find their way about. In addition, they look into neighboring enterprises like eateries, theatres, and other attractions using geo-referenced data from GPS and GIS applications. These days, reliable 3D spatial information is frequently captured using portable computer devices. A personal digital assistant (PDA) performs functions or offers services based on data obtained from the user's device, physical location, and numerous web sources.
Real-time maps make it possible to create detailed, precise, and current digital representations. Businesses may use dynamic maps that are continually updated in the cloud to analyze and show data from sensors, devices, and social media in almost real time. Instantaneous notifications and database updates provided by this technology enable quick decision-making and action. By combining maps with real-time data, more complete mapping APIs and SDKs for asset and transportation monitoring can be made, making it simpler for developers to access all the data they can get their hands on. These APIs are included in autonomous cars' operating systems, enabling businesses to continuously update monitoring applications on traffic conditions and freshly mapped locations.
The market segmentation is based on Services and Solutions. The Solutions segment holds the majority share in 2021. This segment offers high-end solutions that enable users to access, manage and share map data with ease. From interactive mapping applications to precise navigation solutions, this segment provides consumers with a wide array of services that can help them save time and money.
Based on Functionality, the market segmentation includes Scientific, GPS Navigation, and Computerized. The GPS Navigation segment is projected to be the faster-growing segment during the forecast period, 2022-2030. With built-in navigation systems, drivers no longer have to worry about getting lost due to poor directions or bad maps. As a result, this segment has quickly become one of the most popular and profitable parts of the market.
Based on the Technology, the market segmentation includes GIS, Digital Orthophotography, Aerial Photography, and Others. The GIS segment dominated the market growth and provided users with a powerful tool for understanding their environment in real-time. This technology has made it easier than ever to find your way around unfamiliar places and has revolutionized the way people travel.
Based on Application, the market segmentation includes Indoor and Outdoor. The Outdoor segment dominated the market in 2021. This is due to the increasing demand for outdoor maps in app-based navigation systems, especially in the car market. The outdoor segment is estimated to grow at the highest rate over the forecast period.
Based on Vertical, the market segmentation includes Automotive, Defense & Aerospace, Smartphones, and Others. The Automotive segment dominated the market in 2021. The technology has been a part of the automotive segment and is used to generate, collect, manage, analyze, and display geographic information.
Figure 2: Digital Map Market, by Vertical, 2021 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The largest market participant in the market, North America, is anticipated to expand throughout the projected period. Because digital maps are becoming more and more common in the automobile and mobile device industries, North America is anticipated to have the highest share of the market. Sales of digital maps are anticipated to increase as linked automobiles and UAVs become more prevalent. Due to the region's growing investment in mapping technology and the region's strong demand for geospatial data from a variety of end-use sectors including automotive, retail, and utilities, the digital map market in North America accounted for the region's biggest revenue share. Large companies like Apple Inc. and ESRI are assisting in the rise of North American market revenue.
Figure 3: DIGITAL MAP MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The projected period anticipates growth in the Asia-Pacific region. The whole market for digital maps in the Asia-Pacific region—including China, India, Japan, Australia, and the rest of the continent—is analyzed. Governments' increased attempts to reduce the gap between digital and geospatial technologies will likely result in more rigorous enforcement of different new technologies, which will likely lead to an expansion of the regional market. In this region, digital mapping technology is frequently used for surveying and mapping plantation crops as well as rural and agricultural development.
Europe is expected to become the main player in the worldwide digital map industry soon. The rising popularity of in-store mapping, as well as the development of retail establishments, are driving up demand for POS LBS. Caliper Corporation responds to this request by developing retail mapping software for retailers. Significant firms in the digital map sector are expected to join forces as the market.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Digital Map industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Digital Map industry to benefit customers and expand the market sector. Major market players, including Google (Alphabet Inc.), HERE Technologies, TomTom, Mapbox, and others, are attempting to increase market demand by funding R&D initiatives.
Google completed a corporate restructuring and became an Alphabet subsidiary. Please see the Alphabet profile for more metrics. Google is a firm focused on Internet-related services and products. It offers solutions for internet advertising, a search engine, cloud computing, software, and hardware. Connected Home, Gmail, Google Duo, Google Play, Waze, and YouTube are among the goods available to the general public. The company also provides products for businesses, such as Blogger, AdMob, Google Workspace, Google Merchant Center, Google Ads, Google Trends, and Waze Local.
HERE Technologies (formerly HERE ) is a mapping, navigation, and location solutions provider. It creates a platform with mapping material, a marketplace, and an integrated set of solutions, services, and development tools. The automotive, public sector, infrastructure, transportation, and logistics industries are all served by the organization.
July 2022: Google declared the launch of its Street View experience in India in collaboration with Genesys International, an advanced mapping solutions company, and Tech Mahindra, a provider of digital transformation, consulting, and business re-engineering solutions and services. Google, Tech Mahindra, and Genesys International also plan to extend this to more than around 50 cities by the end of the year 2022.
Services
Solutions
Scientific
GPS Navigation
Computerized
Digital Orthophotography
Aerial Photography
Others
Indoor
Outdoor
Automotive
Defense & Aerospace
Smartphones
Others
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
Digital Map Market Highlights:
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