Rising Government Initiatives: Increasing Technological Advancement is Surging the Demand for Digital Maps Market Globally

The global digital map market is anticipated to grow at a significant CAGR of 14.3% during the forecast period (2022-2028). Digital map technology offers end-to-end map solutions such as location information, real-time update, technology collaboration, and analytics approach for better geo-mapping outputs. The major factor driving the growth of the global digital map market during the forecast period is the increasing technological advancements along with increasing demand for digital maps in several industries across the globe. For instance, in July 2021, the Ministry of Electronics and IT (MeitY) has integrated service of MapmyIndia to enable people to locate government facilities such as ration shop, mandis, Indian oil petrol pumps, gas stations, among others on digital maps.

Browse the full report of "Global Digital Map Market Size, Share & Trends Analysis Report by Type (Outdoor Mapping and Indoor Mapping), By Component (Solutions and Services), by Application (Real-Time Location Data Management, Geocoding & Geo-Positioning, Routing & Navigation, Asset Tracking, and Others), By Vertical (Energy & Utilities, Automotive, Oil & Gas, Building & Construction, Government, Travel & Transportation, and Others) Forecast (2022-2028)" at https://www.omrglobal.com/industry-reports/digital-map-market

Furthermore, the growth of the market can also be attributed to the growing need for a better viewer experience as well as the rising demand for real-time mapping of data. For instance, in September 2019, the government of India announced the initiation of a project to digitally map the country with a resolution of 10 centimetres by using drones and technologies such as Artificial Intelligence and big data. However, the lack of expertise may hamper the growth of the market. 

The major companies serving the global digital map market include Apple Inc., Google LLC, Here Technologies, MapQuest, and Nearmap, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, and geographical expansion, to stay competitive in the market. For instance, in February 2019, HERE Global B.V. introduced a map named “HERE Cellular Signals” to showcase updated information about the performance of mobile networks on roads for 196 countries to help the telecom solution provider to manage their telecom network effectively for better customer satisfaction.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028

Segment Covered- 

• By Type
• By Component
• By Application
• By Vertical

Regions Covered-

• North America
• Europe
• Asia-Pacific
• Rest of the World

Competitive Landscape- Apple Inc., Google LLC, HERE Global B.V., Nearmap Australia Pty Ltd., System1 LLC (MapQuest).

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?

o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Digital Map Market Report by Segment

By Type 

• Outdoor Mapping 
• Indoor Mapping

By Component 

• Solutions 
• Services

By Application 

• Real-Time Location Data Management
• Geocoding and Geo-Positioning
• Routing and Navigation
• Asset Tracking 
• Others

By Vertical 

• Energy & Utilities
• Automotive
• Oil & Gas
• Building & Construction
• Government
• Travel & Transportation  
• Others

Global Digital Map Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe 

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific 

Rest of the World

• Latin America 
• Middle East & Africa