Digital Map Market Expected to Register CAGR of 12.7% from 2017 to 2023: Allied Market Research

Press Release

The digital map market is projected to grow at a CAGR of 12.7% from 2017 to 2023. This is attributed to increase in the use of geospatial information and rise in use of smartphones.

The global digital map market is segmented on the basis of usage, functionality, and region. Usage covered in this study include 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.

Increase in the use of geospatial information, growth in use of smartphones, and advancements in technology drive the growth of the global digital map market. However, availability of free crowdsourcing digital maps and legal challenges restrict the growth of the market.

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The outdoor segment dominated the market in 2016. Digital map companies across the globe have focused on calculation, accurate & reliable navigation, ease of convenience by transfer information and valuable insights to the user. In addition, easy & efficient operations, cost reduction, better connection with the communities, transparent nature, gain in competitive edge, improved decision making are fueling the growth of digital maps in outdoor use. Real-time mapping of the physical world represents lucrative opportunity for the market.

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Usage wise the indoor segment is expected to grow at CAGR of around 15% followed by outdoor segment.

The global digital map market is characterized by the presence of international market players. These companies tend to expand their market presence by adopting strategies, such as product development. Some of the key players operating in the digital map include Apple Inc., Google Inc, HERE, Micello, Inc., TomTom International BV, MiTAC International Corporation, ARC Aerial Imaging Limited, Esri, Nearmap Ltd., and MAPQUEST.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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