PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1474719
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1474719
The 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.
Scope of the Report | |
---|---|
Years Considered for the Study | 2019-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | USD (Billion) |
Segments | Offering, Mapping Type, Purpose, Scale, Application, and Vertical |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
"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.
Note: Tier 1 companies have more than USD 10 billion, tier 2 companies' revenue ranges between USD 1 and 10 billion, and tier 3 companies' revenue ranges between USD 500 million and 1 billion. Other designations include sales managers, marketing managers, and product managers.
Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis
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).
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.
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall digital map market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.