Vancouver, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The size of the global digital map market reached approximately $22.20 Billion in 2022. According to the most recent analysis conducted by Emergen Research, the market is anticipated to maintain a consistent revenue Compound Annual Growth Rate (CAGR) of 14.3% throughout the forecast period. This growth trajectory can be attributed to several factors, including the growing proliferation of smartphone applications that rely on digital maps for navigation, the increasing utilization of digital maps to facilitate real-time location services, and the rapid adoption of digital mapping technology for effective disaster management strategies. These factors collectively contribute to the upward trajectory of market revenue.
Recent advancements in real-time mapping and location technology have notably enhanced the convenience of travel for individuals. The domains of mapping and navigation are closely linked to geolocation, a capability that enables users to efficiently ascertain and share precise locations via devices like smartphones. Geolocation software gathers data from devices equipped with GPS technology, enabling the tracking of longitudinal and latitudinal coordinates of the device user.
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Furthermore, the increasing adoption of digital maps for real-time location services is projected to play a substantial role in propelling the market's revenue growth. This trend leverages the capabilities of digital mapping to enable accurate and instantaneous tracking of locations, further contributing to the market's expansion.
Furthermore, the swift adoption of digital mapping for the purpose of disaster management is projected to be a driving force behind the market's revenue expansion. The utilization of Geographic Information Systems (GIS) and satellite imaging technologies has become pivotal in furnishing emergency responders with the crucial data necessary to address a wide spectrum of calamities and urgent situations. This encompasses natural disasters, hazards, crime scenarios, defense strategies, and infrastructure management.
Geographic Information Systems, in conjunction with satellite imagery, serve as indispensable tools for retrieving vital information in such scenarios. These resources enable the analysis and visualization of diverse types of disasters. By employing GIS maps and satellite imagery, emergency personnel gain enhanced insights for effective risk mitigation planning. Moreover, these tools empower responders to comprehend the impact on communities and infrastructure, thereby expediting the recovery process.
However, it's worth noting that the constraint of limited proficiency in digital mapping technology acts as a hindrance to the growth of market revenue. Addressing this expertise gap is crucial to unlocking the full potential of the digital map market.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 22.20 Billion |
| CAGR (2023–2032) | 14.3% |
| Revenue Forecast to 2032 | USD 84.31 Billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Component, mapping, application, industry vertical, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Google, Apple Inc., ESRI, Nearmap, MapQuest, LightBox Holdings, L.P., Mapsted Corp., Caliper Corporation, Orbital Insight, and Geocento |
| Customization Scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global digital map market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts. Some major players included in the global digital map market report are:
- Apple Inc.
- ESRI
- Nearmap
- MapQuest
- LightBox Holdings, L.P.
- Mapsted Corp.
- Caliper Corporation
- Orbital Insight
- Geocento
Strategic Development
- On 19 November, 2022, Google added new features to Google Maps. Users can now search the surroundings with a smartphone’s camera. Users of the ‘Search with live view’ feature can utilize their smartphone's camera to identify places that are not immediately nearby and learn more about places that are close to them.
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Some Key Highlights From the Report
- The services segment accounted for largest revenue share in 2022. This is due to rising number of digital mapping service providers globally and increasing number of digital mapping applications.
- The outdoor mapping segment is expected to register a rapid revenue growth rate over the forecast period. Outdoor mapping is widely used by end users, such as travel and transportation, logistics, and others, in form of applications. Outdoor mapping includes mapping of streets, traffic as well as landmarks and therefore it can help users in navigation.
- The routing and navigation segment is expected to register a rapid revenue growth rate over the forecast period. This is due to increasing usage of smartphones leading to a surge in numerous smartphone applications, which can help users in routing and navigation. In addition, new technologies such as LiDAR, help in creating 3D mapping, which is also expected to drive market revenue growth.
- The travel and transportation segment accounted for largest revenue share in 2022. This is due to real time location systems, which have significantly helped in navigation in travel and transportation.
- The North America market is expected to account for largest revenue over the forecast period. This can be attributed to presence of major companies in countries of this region. In addition, government initiatives by the U.S. Geological Survey is further expected to drive revenue growth of the market in this region
- On 27 September 2021, Apple introduced new features in Apple Maps. Users of Maps in London, Los Angeles, New York City, and San Francisco may benefit from an immersive three-dimensional city view, improved navigation, and others.
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Emergen Research has segmented the global digital map market based on component, mapping, application, industry verticals, and region:
- Component Outlook (Revenue, USD Billion; 2019-2032)
-
- Solutions
- Services
- Mapping Outlook (Revenue, USD Billion; 2019-2032)
-
- Outdoor Mapping
- Indoor Mapping
- Application Outlook (Revenue, USD Billion; 2019-2032)
-
- Real-Time Location Data Management
- Geocoding and Geo-positioning
- Routing and Navigation
- Reverse Geocoding
- Others
- Industry Verticals Outlook (Revenue, USD Billion; 2019-2032)
- Oil & Gas (O&G)
- Agriculture
- Government
- Logistics
- Travel and Transportation
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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