Industry Background:
Digital mapping technology is rapidly becoming one of the most useful and widespread tools for real time mapping. It is a process of collecting and compiling data to form a virtual image. Advancement in this technology has replaced the conventional stereo plotters with digital mapping systems. Additionally, owing to rapid urbanization and changing scenarios it is essential to have the digital maps and databases in order to support decision-making. Moreover, increasing adoption of real-time digital mapping solutions offers a strong opportunity for the digital maps market in the near future.According to AMA, the market for Digital Map is expected to register a CAGR of 15.92% during the forecast period to 2026. This growth is primarily driven by Increasing Adoption of Mobile Computing Devices for Navigation and Growing Demand for Real-Time Data Mapping Solutions.
Globally, a noticeable market trend is evident Emergence of Big Data and Cloud Technology in Digital Mapping Solutions
. Major Players, such as Google (United States), TomTom (Netherland), Esri (United States), Here (Netherland), Digital Map Products Inc. (United States), Nearmap (Australia), Magellan (United States), Apple (United States), Mapquest (United States), Intrix (United States), Yahoo (United States), AutoNavi (China), MapWise (France), Jibestream (Canada), Indoor Atlas (Finland) and Mapillary (Sweden) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
9th July 2019, Esri the mapping data and spatial analytics provider entered into a strategic partnership with Mobileye for instant map updates. This partnership will enable the company to gather more industry data into its ArcGIS platform and provide accurate real-time map updates. and 4th June 2019, TomTom announced the collaboration with the EU Data Task Force (DTF) to improve road safety by sharing infrastructure and vehicle data between manufacturers and countries.
28th March 2019, TomTom the location technology specialist announced the launch of TomTom GO Premium which assists drivers throughout the journey. It is integrated with features such as IFTTT (If This Then That) integration and powerful navigation and traffic information.
Market Drivers
- Increasing Adoption of Mobile Computing Devices for Navigation
- Growing Demand for Real-Time Data Mapping Solutions
Market Trend
- Emergence of Big Data and Cloud Technology in Digital Mapping Solutions
- Development of Advanced Technologies for Digital Mapping and Surveying
Restraints
- Stringent Legal and Regulatory Policies for Digital Mapping
- Lack of Skilled Professionals in Digital Mapping Solutions Market
Opportunities
Rise in the Usage of 3D Platforms for Digital Mapping and Growing Use of Geospatial Information
Challenges
User Privacy and Security Concerns
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Digital Map Study Sheds Light on
— The Digital Map Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Digital Map industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
— Where Digital Map industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
— How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.