Global Digital Map Market Set to Reach $29.4B by 2024 - Indoor Mapping to Register a Higher Growth Rate During the Forecast Period

| Source: Research and Markets Research and Markets

Dublin, Nov. 08, 2019 (GLOBE NEWSWIRE) -- The "Digital Map Market by Component, Mapping Type (Outdoor and Indoor), Application (Real-time Location Data Management, Geocoding and Geopositioning, Routing and Navigation, and Asset Tracking), Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

  • This market study covers the digital map market size across segments.
  • It aims at estimating the market size and the growth potential of the market across segments such as components, applications, mapping types, verticals, and regions.
  • The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

The Global Digital Map Market is Projected to Grow From USD 13.9 Billion in 2019 to USD 29.4 Billion by 2024, at a CAGR of 16.2% from 2019 to 2024.

A significant growth driver for the market is growing adoption of mobile computing devices for navigation, wide adoption of 3D platforms, and advanced technologies for surveying and digital map-making. In the vertical segment, infrastructure development and construction segment to hold a larger market size in 2019.

Major vendors offering content delivery network solutions include Google (US), TomTom (Netherland), Esri(US), Here (Netherland), Digital Map Products Inc.(US), Nearmap(Australia), Magellan(US), Apple (US), Mapquest (US), Intrix (US)., Yahoo(US), AutoNavi (China), MapWise (France), Jibestream (Canada), Indoor Atlas (Finland),and Mapillary (Sweden). The study includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

By Mapping type, indoor mapping to register a higher growth rate during the forecast period

Indoor mapping is deployed primarily for big complexes, such as hospitals, residential areas, townships, shopping malls, and warehouses. The methods and techniques used in indoor location applications enable accurate 2D and 3D mapping, and navigation. Vendors have started deploying digital maps for indoor infrastructures, due to the growth in concentration in smart city infrastructures and the surge in enhancing the digital experience.

Asia-Pacific (APAC) to register the highest growth rate during the forecast period

The APAC digital map market is experiencing a disruptive growth, owing to its rapidly growing number of internet subscribers and consumption of internet over smartphones and other portable devices. The market is expected to grow at an even higher rate than present due to the ever-increasing consumption of content in major APAC economies such as China, India, Australia, Japan, Singapore, and Hong Kong are the major contributing factors for the growth of the digital map market in this region. Moreover, the massive growth in the agriculture, oil, and gas, and Other natural resources industry have fueled the growth of the Digital Map market, making APAC one of the fastest-growing regions in the Digital Map markets.

Market Dynamics

Drivers

  • Rising Adoption of Mobile Computing Devices for Navigation
  • Wide Adoption of 3D Platforms and Advanced Technologies for Surveying and Digital Map-Making Drives the Market
  • Significant Growth in the use of Geospatial Information

Restraints

  • Legal and Regulatory Policies Limiting the Development of the Digital Mapping Technology

Opportunities

  • Rising Demand for Real-Time Mapping of Data
  • Emergence of Cloud Technology and Big Data in Digital Mapping Solutions

Challenges

  • User Privacy and Security Concerns
  • Lack of Expertise and Skilled Professionals in Digital Mapping Solutions

Companies Profiled

  • Apple
  • AutoNavi
  • Digital Map Products
  • Esri
  • Google
  • Here
  • Indooratlas
  • Inrix
  • Jibestream
  • Magellan
  • Mapillary
  • Mapquest
  • MapWise
  • Nearmap
  • TomTom
  • Yahoo

For more information about this report visit https://www.researchandmarkets.com/r/fsejcw

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