19th March 2020 – The global “Digital
Map Market” presents a widespread and elementary study of Digital Map
business at the side of the analysis of subjective aspects which is able to
give key business insights to the readers. World Digital Map Market analysis
report offers the analytical read of the business by learning various factors
like Digital Map Market growth, consumption volume, market trends and Digital
Map business price structures throughout the forecast amount from 2014 to 2025.
Global Digital Map Market is
anticipated to reach USD 8.76 billion by 2025.
Digital map implies virtual images formed by configuring and gathering data
into an image. It is also termed as “Cartography”. The technique of structuring
and gathering data into a virtual image is termed as “Digital Formatting”.
Digital mapping refers to the technique wherein data is gathered to produce maps,
in the form of virtual images that indicates a certain geographical area, the
rivers, main roads, and numerous significant landmarks such as airports,
hospitals, and tourists from a specific region. Digital mapping technology is
used to calculate distances between different places.
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Main features of the report:
·
To provide detailed analysis of
the market structure along with forecast of the various segments and
sub-segments of the global Digital Map Market.
·
A complete backdrop analysis,
which includes an assessment of the parent market
·
Important changes in market
dynamics
·
Market segmentation up to the
second or third level
·
To provide country level
analysis of the market for segment by application, product type and
sub-segments.
·
To provide strategic profiling
of key players in the market, comprehensively analyzing their core
competencies, and drawing a competitive landscape for the market.
·
Track and analyze competitive
developments such as joint ventures, strategic alliances, mergers and
acquisitions, new product developments, and research and developments in the
global Digital Map Market.
·
Emerging niche segments and
regional markets
·
An objective assessment of the
trajectory of the industry.
The factors that propel the growth of
the Digital Map industry include the increasing adoption of innovative
technology in surveying and making maps and rising adoption of digital maps in
industries. The increase in competition among the suppliers of digital mapping
is encouraging the retailers to upsurge their product portfolios and improve
their skill to offer user-friendly maps to the clients. On the other hand, the
factors that may hamper the growth of the market include high investment in
data collection. Digital Map Market is anticipated to grow at a significant
CAGR of 11.5% in the upcoming period as the scope, product types, and its
applications are increasing across the globe.
The market may be analyzed by
technology, usage, application, functionality, and geography. Also, the market
may be analyzed by technology as LiDAR, GIS, Aerial Photography, Digital
Orthophotography, and Others. The “LiDAR and orthophotography” segment
surpassed the digital map industry in 2016 and is anticipated to maintain its
dominance by 2025 owing to infrastructure development in several regions in the
globe, disaster management, and reducing the costs associated with supply chain
& logistics management.
The market may be analyzed by usage as
Outdoor, and Indoor. The “Outdoor Usage” segment surpassed the market and is
anticipated to maintain its dominance by 2025 owing to growing demand from
indoor location-based facility providers. Digital Map Market may be analyzed by
service as Development, Consulting, and Management. The “Development” segment
surpassed the market and is anticipated to maintain its dominance by 2025 due
to demand from location-based solutions and services.
Digital Map industry may be analyzed by
application as Retail and real estate, Construction and engineering, Energy and
utilities, Government and defense, Logistics, travel, and transportation, Automotive,
and Others (telecom and IT, BFSI, and media and entertainment,). The market may
be analyzed by Functionality as GPS Navigation, Scientific, and
Computerized. Asia-Pacific accounted for
the major share of the Digital Map Market Size in 2016 and will continue to
lead in the forecast period. The factors that could be attributed to the growth
include increase in use of smartphones and with respect to geospatial
information.
Some of the key players that fuel
the growth of the digital map industry comprise AutoNavi Holding Ltd., Yahoo!
Maps, Apple Inc. Google Inc., Tom Tom NV, Micello Inc., NavInfo Co. Ltd.,
Zenrin, Bing Maps, ArcGIS Online, WoNoBo, MapSherpa, GeoMapserver, MapQuest,
NearMap, Open StreetMap, Inrix, Mapion, Road trippers, Mappy, MapmyIndia,
ViaMichelin, WikiMapia, Baidu Maps, and Bhuvan Magellan Navigation. The leading
companies are taking up partnerships, mergers and acquisitions, and joint
ventures in order to boost the inorganic growth of the industry.
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