The Digital Map Market size to grow from USD 19.2 billion in 2021 to USD 37.0 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period. Various factors such as increasing spending on adoption of newer technologies, changing landscape of customer intelligence to drive the market, and proliferation of customer channels are expected to drive the adoption of Digital Map technologies and services.
Big data is an ever-increasing technology that assists businesses in optimizing processes and minimizing operational costs. The combination of real-time data streams, Artificial Intelligence (AI), Machine Learning (ML), and Digital Map can deliver competitive business advantages. Data has always been crucial in Digital Map for gaining strategic decision-making capabilities and formulating other business strategies. The digital map market is expected to grow owing to several factors, such as the increasing availability of spatial data and analytical tools, growing focus on Business Intelligence (BI), intensifying market competition, and decreasing cost of solutions. Additionally, technological advancements, such as the global deployments of 3G and 4G wireless services, have created ubiquitous connectivity. The enhancement of connectivity technologies, supplemented by the growing interest in personalizing services based on users’ location information, has boosted the growth of the digital map market. Moreover, the realization of cost benefits by deploying solutions for organizational assets covering both personnel and vehicle tracking and management is expected to drive the growth of the market. COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan, China, in December 2019, COVID-19 moved from a regional crisis to a global pandemic in just a few weeks. The World Health Organization (WHO) declared the COVID-19 pandemic on March 11, 2020. As this virus is spreading rapidly at a global level, countries across the globe are trying to prevent further contagion by taking measures, such as social distancing, contact tracing, self-quarantining, surveillance, communication, and testing. So far, China, South Korea, Japan, and Singapore, have managed to flatten the curve, while the US, Italy, Spain, Germany, France, and Iran are imposing drastic measures to slow down the spread and control fatalities. Government agencies have announced special financial aid packages toward developing preventive and curative drugs, the purchase of critical care medical devices, and the fast-track approval of diagnostic tests. Various organizations, such as the Bill and Melinda Gates Foundation and Wellcome Trust, are also accelerating and strengthening efforts to fight the COVID-19 pandemic.
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Infrastructure Development and Construction Vertical to account for a larger market size during the forecast period
Digital map solutions play an important role in the construction and engineering companies, as they support all phases of the infrastructure life cycle. Moreover, these solutions help construction engineers manage and share data, generate reports, and visualize territory data, which can be analyzed and communicated to others. Digital maps help increase safety measures and reduce the maintenance costs of the network. For instance, London created a digital map of the underground infrastructure, including gas and water pipes along with electricity and telecommunication cables, which helps safeguard workers’ lives and reduce the cost of damages to utilities, such as pipes and cables.
Digital maps primarily consolidate navigation, routing, and other allied capabilities and streamline geospatial services. End-users of digital maps include natural resource companies, logistics partners, governments, and homeland security. Today, most of the drivers use maps for navigation purposes, such as to position themselves, plan journeys, and decide the shortest possible routes. However, human driving is expected to be gradually replaced by in-vehicle automated systems, leading to greater demand for digital maps. The maps designed for machines are highly accurate and realistic and provide an exact representation of roads. These maps are commonly referred to as High-Definition (HD) maps. The digital map market is expected to grow owing to several factors, such as the increasing availability of spatial data and analytical tools, growing focus on Business Intelligence (BI), intensifying market competition, and decreasing cost of solutions. Additionally, technological advancements, such as the global deployments of 3G and 4G wireless services, have created ubiquitous connectivity. The enhancement of connectivity technologies, supplemented by the growing interest in personalizing services based on users’ location information, has boosted the growth of the digital map market. Moreover, the realization of cost benefits by deploying solutions for organizational assets covering both personnel and vehicle tracking and management is expected to drive the growth of the market. COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan, China, in December 2019, COVID-19 moved from a regional crisis to a global pandemic in just a few weeks. The World Health Organization (WHO) declared the COVID-19 pandemic on March 11, 2020. As this virus is spreading rapidly at a global level, countries across the globe are trying to prevent further contagion by taking measures, such as social distancing, contact tracing, self-quarantining, surveillance, communication, and testing. So far, China, South Korea, Japan, and Singapore, have managed to flatten the curve, while the US, Italy, Spain, Germany, France, and Iran are imposing drastic measures to slow down the spread and control fatalities. Government agencies have announced special financial aid packages toward developing preventive and curative drugs, the purchase of critical care medical devices, and the fast-track approval of diagnostic tests. Various organizations, such as the Bill and Melinda Gates Foundation and Wellcome Trust, are also accelerating and strengthening efforts to fight the COVID-19 pandemic.
Some major players in the Digital Map Market include Google (US), Apple(US), TomTom(Netherlands), Nearmap(Australia), ESRI(US), INRIX(US), HERE Technologies(Europe), MapQuest(US), LightBox(US), ServiceNow(US), Alibaba Group(China), Inpixon(US), META(US).,IndoorAtlas(Finland), Mapsted(Canada) These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global Digital Map Market.
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Google’s company’s parent organization, Alphabet, was formed by restructuring Google in October 2015. It became the parent company of Google and several former Google subsidiaries. Google’s product innovations have increased the use of its services and the company is one of the most recognized brands in the world. The company’s core products and platforms include Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search, and YouTube. Every product has over one billion active users every month. As more and more digital experiences are being built in the cloud, its cloud products are helping enterprises of all sizes take advantage of the latest technologies and efficiently run their businesses. Google provides its big data solution through the Google Cloud Platform. The cloud-based services are available as global technology services. The company offers Google Maps, through which it provides mapped data and applications to various users. It operates through 70 offices in more than 50 countries worldwide. It has a geographical presence in North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Apple is a consumer electronics manufacturing company that designs, manufactures, and markets mobile communication and media devices, and personal computers. The company has a wide products and services portfolio that includes iPhone, iPad, Mac, Apple Watch, AirPods, Apple TV, and HomePod; and a portfolio of consumer and professional software applications, iOS, macOS, watchOS and tvOS operating systems, iCloud, Apple Pay, and supporting services. Apple Maps is a web mapping service developed by Apple. It is the default map system in iOS, macOS, and watchOS. It provides directions and the estimated time of arrival for automobile, pedestrian, and public transportation navigation. Apple Maps also features the flyover mode, a feature that enables users to explore certain densely populated urban centers and other places of interest in a 3D landscape composed of models of buildings and structures. The company’s major competitors are Google and Microsoft. Apple operates its business globally in the regions of the Americas, Asia Pacific, Europe, and the Middle East. It caters to various verticals, such as transportation, BFSI, communications, education, retail, healthcare, hospitality, media, public sector, energy, and the government sector.
TomTom is a digital mapping and routing company that focuses on car navigation. It gains a competitive advantage through superior products, a leading brand, and a flexible production structure. It delivers maps through a combination of its high-quality map database, which is supposed to be up to date with the data collected from surveying vehicles and its large community of users. The company’s software uses big data combined with machine learning and computer vision techniques to provide maps for automated and autonomous driving and real-time traffic and travel information. The company has three business units, namely automotive and enterprise, consumer, and telematics. The automotive and enterprise unit provides maps, navigation software and services, such as traffic information and routing. The consumer unit offers drivers’ directions, guidance, and information for road journeys. The company offers various technologies, such as maps, navigation, services, ADAS, and autonomous driving. The telematics business unit offers a range of services for businesses with fleets, including fleet management and other connected car services. The transactional mapmaking system is used for standard-definition and high-definition maps, which enables operational productivity and shorter map update cycle times. The company offers an extensive digital map database with global coverage. TomTom serves the digital maps market and covers 186 countries and territories. Moreover, the company’s detailed and real-time traffic information service reaches more than 5 billion people in 77 countries. It has offices in 29 countries across the globe.
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