The digital map market is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.1% during the forecast period, from USD 28.3 billion in 2024 to USD 47.8 billion by 2029. The adoption of digital map solutions is expected to be driven by the increasing need of organizations to enhance business efficiency, improve scalability and flexibility, and make informed decisions.
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By application, the routing and navigation data segment will hold the largest market size during the forecast period.
Routing and navigation data in digital maps are critical for providing accurate and efficient directions to users. Road networks are detailed information about roads, streets, highways, and other pathways, including their geometry, connectivity, speed limits, and classifications. Turn restrictions include legal or physical limitations on turning movements at intersections, such as no-left-turn or no-right-turn restrictions. Elevation data is the information about changes in terrain elevation, such as hills, mountains, valleys, and slopes. Elevation data is essential for route planning, especially for hiking, biking, and driving in mountainous regions. Transit information is the data on public transportation services, including bus routes, train lines, subway systems, schedules, stops, and fares. Transit information lets users plan multi-modal journeys and includes details like service frequencies, departure times, and transfer points.
By region, the Asia Pacific will grow at the highest growth rates during the forecast period.
The digital maps market in the Asia Pacific region is propelled by technological advancements, notably the widespread adoption of smartphones and the increasing popularity of location-based services. Navigation and mapping applications play a pivotal role in this growth trajectory. Factors such as the rising demand for location-based services, the rapid expansion of e-commerce and on-demand delivery services, and increasing smartphone penetration contribute to the robust market growth. Despite data privacy concerns and internet connectivity issues in remote areas, the demand for real-time and dynamic mapping solutions is expected to fuel further market expansion. Major players in the region include Apple, Inpixon, and INRIX. With the rapid urbanization and infrastructure development in countries like China and India, there’s a growing demand for accurate and up-to-date digital maps for urban planning and logistics optimization. Mobile navigation applications are gaining popularity in densely populated cities, driving the growth of the digital map market in the region. Governments in the Asia-Pacific region are investing in geographic information systems (GIS) for better urban planning, disaster management, environmental conservation, and public service delivery.
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Unique Features in the Digital Map Market
Users can plan routes based on current traffic conditions and avoid congestion by using digital maps, which provide real-time traffic information.
More sophisticated digital maps offer three-dimensional views of the land and structures, improving visualisation and providing a more engaging navigation experience.
With the help of interior navigation tools found on digital maps, users may easily travel across major structures like stadiums, airports, and shopping centres.
By enabling users to superimpose digital data onto the real environment, integration with augmented reality technology improves navigation and offers context-aware information.
To personalise their experience, users can add layers to digital maps, such as areas of interest, nearby landmarks, and bespoke routes.
Major Highlights of the Digital Map Market
The growing demand for location-based services, navigational aids, and mapping applications across a range of industries is propelling the digital map market’s notable expansion.
The capabilities and features of digital maps are being improved by developments in mapping technologies, such as augmented reality, 3D mapping, and indoor mapping, which provide more precise and engaging navigation experiences.
Digital maps are increasingly indispensable for both consumers and companies due to the increasing demand for real-time traffic updates, live position monitoring, and dynamic route optimisation, which is driving the market expansion.
Numerous industries, such as automotive, transportation, logistics, retail, healthcare, and tourism, use digital maps, which fuels demand for mapping solutions customised to meet industry demands.
Digital maps-driven location intelligence solutions are helping organisations make better decisions, allocate resources more efficiently, and improve customer experiences by giving them access to insightful spatial data.
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Leading Digital Map Companies include
- Google(US),
- Apple(US),
- Nearmap(Australia),
These players have adopted many growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, collaborations, mergers, acquisitions, and new product development activities to expand market presence.
Google, founded in 1998, is a multinational technology corporation renowned for its dominance in online advertising, search engine technology, cloud computing, and AI. Under its parent company, Alphabet Inc., Google offers various products and services, including Gmail, Google Maps, Chrome, YouTube, Android, and Google Assistant. Initially, a desktop tool, Google Maps, has evolved into a GPS-based navigational app providing real-time directions, showcasing the company’s commitment to innovation in geographical navigation. The company’s global clientele base is spread across industry verticals, such as automotive, BFSI, retail & eCommerce, education, energy, engineering, entertainment, environment, food, beverage, government, healthcare, manufacturing, media, telecommunications & IT, transportation, and travel & hospitality. Google heavily invests in platforms like Android mobile OS, Chrome browser, Chrome OS, and Daydream Virtual Reality (VR) platforms.
Apple
Founded in 1976, Apple Maps is integrated into various Apple products, including iPhones, iPads, and Macs, providing users with navigation, location services, and local business information. Apple has continually invested in improving its mapping service, acquiring mapping technology companies, and using its fleet of mapping vehicles to collect data for better accuracy and detail. In terms of competition, Apple Maps competes primarily with Google Maps, which has long been the dominant player in the digital mapping space. Google Maps offers robust features, including real-time traffic updates, public transit information, and Street View, among others. While Google Maps remains the leader, Apple Maps has been steadily gaining ground, especially among users within the Apple ecosystem who appreciate its tight integration with other Apple services.
Additionally, Apple has expanded its capabilities with features like indoor maps for airports and shopping centers, transit directions, and more detailed maps in select cities. Looking forward, Apple is likely to continue investing in and improving its mapping service, potentially expanding into new areas such as augmented reality (AR) navigation, which could further differentiate its offering from competitors. Additionally, partnerships and acquisitions may play a role in Apple’s strategy to enhance its mapping capabilities and compete more effectively in the digital map market.
Nearmap
Nearmap, headquartered in Australia, is a prominent player in the Digital Map Market. They provide high-resolution aerial imagery and geospatial data that enable businesses and government agencies to make informed decisions. With their advanced technology and extensive coverage, Nearmap offers accurate and up-to-date maps for applications in industries such as urban planning, construction, real estate, and infrastructure development. Their solutions empower users to visualize locations in detail, analyze changes over time, and derive valuable insights for efficient decision-making and planning.
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