Portland, OR — (PRESS RELEASE JET) — 11/07/2017 — The digital map also called as cartography is an electronic map, which operates based on a combination of graphic elements assigned to it in the form of electronic information. Digital mapping is a process of collection and compilation of data to form a virtual image.
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The compiled data is used to produce digital maps that exactly represent a particular geographical area or feature, including major rivers, roads, and important landmarks such as hospitals, airports, and others. Digital mapping technology can also be used to calculate the distance between different places.
Increase in the usage of 3D platforms & advanced technologies for surveying and making digital maps drives the growth of the global digital map market. However, increase in adoption of free crowdsourcing digital maps, stringent regulations, and legal challenges restrict the growth of the market. Increase in adoption of real-time digital maps offers a strong opportunity for the digital map.
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The global digital map market is segmented on the basis of usage, functionality, and region. Usage covered in this study includes indoor and outdoor applications. By indoor applications, the market is classified into airports, malls, and departmental stores. By outdoor applications, the market is divided into automotive navigation, mobile & the internet, public sector agencies, and enterprises. Based on the functionality, the market categorized into computerized, scientific, and GPS navigation.
By region, the digital map market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Increase in the use of geospatial information fuels the market growth. In addition, increase in use of smartphones further propel the market growth.
The digital map market is dominated by key players that includes Apple Inc., Google Inc, HERE, Micello, Inc., TomTom International BV, MiTAC International Corporation, ARC Aerial Imaging Limited, Esri, Nearmap Ltd., and MAPQUEST.
KEY BENEFITS FOR STAKEHOLDERS
– The study provides an in-depth analysis of the digital map market, with current and future trends to elucidate the imminent investment pockets.
– Information regarding key drivers, restraints, and opportunities is provided.
– Porter’s Five Forces analysis illustrates the potency of buyers and suppliers participating in the market.
– The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential.
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