Global Digital Map Market Report and Forecast 2023-2028

Global Digital Map Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global digital map market attained a value of USD 17.32 billion in 2022. Aided by the increasing adoption of smartphones, IoT devices, and the expanding e-commerce industry, the market is projected to further grow at a CAGR of 14.0% between 2023 and 2028 to reach a value of USD 37.79 billion by 2028.

Digital maps refer to electronic representations of geographical areas, providing users with information on various locations, routes, and distances. They are widely employed in many different industries, including real estate, e-commerce, logistics, and transportation, to promote effective route planning, navigation, and location-based services. Digital maps provide a number of benefits compared to traditional paper maps, such as real-time updates, user-friendly interfaces, and the capacity to include several layers of information.

One of the key factors driving the global digital map market growth is the increasing adoption of smartphones and IoT devices. With the proliferation of smartphones, users have access to digital maps through various applications, such as Google Maps and Apple Maps, which provide real-time navigation and location-based services. Additionally, the integration of IoT devices with digital maps allows for more accurate and efficient tracking and monitoring of assets, vehicles, and people, further propelling the digital map market.

Furthermore, the increasing focus on smart city initiatives across the globe is also fuelling the digital map market expansion. The integration of digital maps with a range of smart city applications, including traffic control, mass transit, and emergency response services, is anticipated to open up new growth prospects for the market in the years to come.

Another significant trend influencing the global digital map market is the development of advanced mapping technologies like 3D mapping and real-time data analytics. With the help of 3D mapping technology, more precise and realistic digital maps can be produced, giving consumers a better understanding of the spatial relationships between various geographic objects. Also, the market is anticipated to increase as a result of the growing use of digital maps in the autonomous vehicle industry. As the development and adoption of autonomous vehicles accelerate, the demand for high-quality digital maps is expected to increase, propelling the digital map market.

Market Segmentation

The market can be divided based on type, functionality, application, end use, and region.

Market Breakup by Type Software SolutionsWeb BasedDesktopMobile App Maps ServicesMarket Breakup by Functionality Computerised Scientific GPS NavigationMarket Breakup by Application Indoor Applications Outdoor ApplicationsMarket Breakup by End Use Government and Utilities Automotive E-Commerce and Retail OthersMarket Breakup by Region North America Europe Asia Pacific Latin America Middle East and Africa Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global digital map companies. Some of the major key players explored in the report by Expert Market Research are as follows: Environmental Systems Research Institute (ESRI), Inc. Google LLC (Alphabet Inc.) TomTom NV Mapbox, Inc. Maxar Technologies Inc. Apple, Inc. HERE Global B.V. OthersAbout Us

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.