Digital Map Market with COVID-19 Impact Analysis by Component, Mapping Type, Application, Industry Vertical And Region - Global Forecast to 2026
- March 2022 •
- 222 pages •
- Report ID: 5391641 •
- Format: PDF
The Digital Map Market size to grow from USD 19.2 billion in 2021 to USD 37.0 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period. Various factors such as increasing spending on adoption of newer technologies, changing landscape of customer intelligence to drive the market, and proliferation of customer channels are expected to drive the adoption of Digital Map technologies and services.
Digital maps primarily consolidate navigation, routing, and other allied capabilities and streamline geospatial services.End-users of digital maps include natural resource companies, logistics partners, governments, and homeland security.
Today, most of the drivers use maps for navigation purposes, such as to position themselves, plan journeys, and decide the shortest possible routes.However, human driving is expected to be gradually replaced by in-vehicle automated systems, leading to greater demand for digital maps.
The maps designed for machines are highly accurate and realistic and provide an exact representation of roads.These maps are commonly referred to as High-Definition (HD) maps.
The digital map market is expected to grow owing to several factors, such as the increasing availability of spatial data and analytical tools, growing focus on Business Intelligence (BI), intensifying market competition, and decreasing cost of solutions. Additionally, technological advancements, such as the global deployments of 3G and 4G wireless services, have created ubiquitous connectivity. The enhancement of connectivity technologies, supplemented by the growing interest in personalizing services based on users’ location information, has boosted the growth of the digital map market. Moreover, the realization of cost benefits by deploying solutions for organizational assets covering both personnel and vehicle tracking and management is expected to drive the growth of the market. COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan, China, in December 2019, COVID-19 moved from a regional crisis to a global pandemic in just a few weeks. The World Health Organization (WHO) declared the COVID-19 pandemic on March 11, 2020. As this virus is spreading rapidly at a global level, countries across the globe are trying to prevent further contagion by taking measures, such as social distancing, contact tracing, self-quarantining, surveillance, communication, and testing. So far, China, South Korea, Japan, and Singapore, have managed to flatten the curve, while the US, Italy, Spain, Germany, France, and Iran are imposing drastic measures to slow down the spread and control fatalities. Government agencies have announced special financial aid packages toward developing preventive and curative drugs, the purchase of critical care medical devices, and the fast-track approval of diagnostic tests. Various organizations, such as the Bill and Melinda Gates Foundation and Wellcome Trust, are also accelerating and strengthening efforts to fight the COVID-19 pandemic.
The GPS-Enabled Services solution segment to have the highest CAGR during the forecast period
By solutions, the digital map market has been segmented into mapping data, web mapping and GPS-Enabled Services.The CAGR of the GPS-Enabled Services solution is estimated to be the largest during the forecast period.
Global positioning solutions are mainly defined as a set of services that provide hand-maps with incorporated routing, traffic updates, and other support functions. Automated Driver Help Service (ADAS), automated vehicles, linked mapping, brake assist, and others are among the key use case scenarios for GPS-enabled services.
The Cross-Platform Support segment to hold higher CAGR during the forecast period
The digital map market has been segmented by services into consulting, Cross-Platform Support and Deployment and integration.The market for Cross-Platform Support is expected to register a higher CAGR during the forecast period.
Cross-platform support services help in the maintenance of digital map solutions that have been implemented along with several platforms. In addition, facilities inspections, and education, as well as round-the-clock assistance for modern infrastructure map software, are included in the maintenance and support services.
Among regions, APAC to hold highest CAGR during the forecast period
APAC is expected to grow at a good pace during the forecast period.The region will be booming, as it is experiencing a lot of new entrepreneur setups, who are adopting the newer technologies to have a competitive advantage over the established players.
China, Japan, and India have displayed ample growth opportunities in the digital map market.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the Digital map market.
• By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
• By Designation: C-Level Executives: 35%, D-Level Executives: 25%, and Managers: 40%
• By Region: APAC: 25%, Europe: 30%, North America: 30%, MEA: 10%, Latin America: 5%
The report includes the study of key players offering digital map solutions and services.It profiles major vendors in the digital map market.
The major players in the Digital Map Market include Google (US), Apple(US), TomTom(Netherlands), Nearmap(Australia), ESRI(US), INRIX(US), HERE Technologies(Europe), MapQuest(US), LightBox(US), ServiceNow(US), Alibaba Group(China), Inpixon(US), META(US), IndoorAtlas(Finland), Mapsted(Canada).
The market study covers the digital map market across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as components, mapping type, application, vertical, and region.
It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall digital map market and its subsegments.It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies.
It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.