Digital map: Key market research findings
- The Americas dominate the market geographically
- The outdoor segment accounts for a majority share of the market’s revenue
- Key vendors – Alibaba, Apple, Google, HERE, Micello, and NavInfo
Technavio’s market research analysts predict the global market for digital maps to grow at a CAGR of around 14% between 2016 and 2020. The increased adoption of digital maps by mobile device manufacturers is the primary driving force behind the growth of this market. With the increasing functionalities and processing capabilities of smartphones and tablets, users are able to use their mobile devices to obtain real-time directions to nearby locations, weather forecasts, and traffic updates. As a result, mobile device manufacturers are developing partnerships with digital map providers to provide inbuilt digital maps in their devices. The global digital maps market was dominated by the Americas with a market share of more than $1 billion during 2015. The increasing demand for location determination, enhanced transportation or logistics planning, sales and marketing optimization, risk analysis, and fraud detection are factors that will contribute to the growth of the digital maps market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the digital maps segments based on the usage.
“Increasing use of 3D platforms is an ongoing trend in the market today. The use of logistics and supply chain management 3D platforms and management software increases efficiency and minimizes cost. 3D visualization provides clarity of information about routes, warehouse utilization, and throughput. The adoption of such advanced technologies for surveying and map-making is resulting in the development of more accurate 3D digital maps,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
Currently, the outdoor segment dominates the global digital maps market with a revenue of close to $3 billion. Outdoor digital maps play a crucial role in improving the response times of emergency services. They enable governments and local authorities to design city infrastructure intelligently by using population density heat maps. These maps also enable public transport managers to plan and update routes to match the actual and future needs of commuters. Furthermore, they enable the real-time monitoring of foot traffic to optimize schedules, improve staff services, reduce congestion and gridlock, and improve safety.
The key vendors in the global digital map market include Alibaba, Apple, Google, HERE, Micello, and NavInfo. The competition among digital map providers depends on the quality of maps and the coverage of geographical areas. Most of the global players that are charging for their digital maps and are investing in advanced technology and equipment for surveying and making digital maps in order to enhance the quality, coverage, and updates they can offer. On the other hand, the free digital map providers are mostly dependent on communities and users for updates, coverage, and quality.
A more detailed analysis is available in the Technavio report, Global Digital Map Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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