Digital Map Market Trends 2019– How the Business Will Grow in 2024?

Global Market Insights, Inc. provides a detailed overview of digital map market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Digital Map Market growth will be driven by enhanced network connectivity across various mobile devices & the widespread availability of digital maps across various mobile devices. The emergence of the 4G technology has further improved the data transfer speeds considerably compared to the previous generation’s 3G networks. This improved network connectivity has allowed customers to access multiple mapping solutions through their smartphones for navigational purposes.

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The digital maps are used in energy & utilities, construction & engineering, logistics, travel, transportation, government & defense, automotive, retail, real estate, telecom, IT, media & entertainment, and BFSI sectors. The automotive sector in digital map market is projected to grow at a rapid pace over the forecast timeline. The digital maps are used across the automotive sector to develop various navigational components. They help the automobiles to sense any changes in the surrounding environment and navigate without human input. It is also used in the defense sector to provide the geospatial intelligence support in defense and intelligence operations.

The digital maps are used for tracking & telematics, catchment analysis, risk assessment & disaster management, route optimization, and geo-analytics visualization. The route optimization market holds a dominant market share in the digital map market. The route optimization is widely used across the logistics & transportation sector to boost the productivity and efficiency by reducing the time spent on planning routes from one location to the other. The disaster management market is estimated to grow at a fast pace over the projected time period. The digital maps are used for improving the collaboration between the volunteers & humanitarian organizations.

North America is anticipated to lead in the digital map market over the forecast time period. This is due to the presence of prominent technological players such as Google, Microsoft, and Apple. The region is also one of the major hubs for the technology start-ups. Supportive government policies and favorable conditions for the new players encourage companies to work on cutting-edge technologies. In addition, the increasing venture capital in the mapping technologies by the tech-giants also drive the digital map market. For instance, in 2015, Mapbox raised USD 52 million to develop media-rich mapping solutions for the North American region.

The Asia Pacific digital map market is expected to grow the fastest over the projected timeframe due to the widespread adoption of smartphones in the region. This can be attributed to the availability of cost-effective mobile devices equipped with navigational applications. In addition, the governments in the region are exploring new opportunities to improve the public infrastructure.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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