PUBLISHER: Grand View Research | PRODUCT CODE: 1233075
PUBLISHER: Grand View Research | PRODUCT CODE: 1233075
The global digital map market size is estimated to reach USD 54.98 billion by 2030, expanding at a CAGR of 15.8% from 2023 to 2030, according to a new study by Grand View Research, Inc. The market is anticipated to have a significant demand from navigational application developers as well as geographical information system (GIS) operators, who are driven by an increasing end-user base. The increase in the number of smartphone and internet users has fueled the global growth. Moreover, the rise in the number of connected and semi-autonomous cars, and expected developments in self-driving and navigation technology, among others are anticipated to drive the global demand.
Rising demand for geospatial information in recent years is driving the growth of digital cartography technology. Applications such as logistics management, congestion intelligence, location, traffic, and smart parking need routing and congestion updates in real-time. With significant technological advancements in digital cartography, it is supporting these applications with data feeds and information. In addition, the increasing number of businesses that are using location-based services for marketing and advertising is also estimated to enhance the demand growth in coming years.
The growing demand for topographical & environmental information systems is accelerating the adoption in public & government sector. Further, growing need for maintaining information system for local governing bodies, defense forces, and law enforcement officials owing to notable rise in natural & manmade threats is expected to drive the market growth. Market players are focusing on data integration technology in digital map for smooth integration between information systems and maps which is expected to propel the market growth over the forecast period. The key players are expected to indulge in merger and acquisitions in order to strengthen their digital map offerings, maintain competitive edge, and achieve higher profitability.