Digital map market expected to reach $67.8 billion by 2032 due to growing demand and applications
From GlobeNewswire: 2024-11-25 09:00:00
The Digital Map Market size was valued at USD 21.3 billion in 2023 and is expected to reach USD 67.8 billion by 2032, growing at a CAGR of 13.8%. Industries are increasingly adopting digital maps for unmanned vehicles, GPS systems, smart cities, and urban planning, with the automotive sector being the largest end-user due to applications in autonomous driving technology and advanced driver assistance systems.
The use of digital mapping has become crucial in infrastructure planning, urban development, and natural resource management, driven by the growth of Geographic Information Systems (GIS). Mapping applications on smartphones and the rise of location-based services have further fueled market growth. Major players include Google, HERE Technologies, TomTom, Esri, Mapbox, and Maxar Technologies.
Market opportunities include the growing demand for augmented reality (AR) and virtual reality (VR) in navigation and the development of 3D digital maps for industries like real estate and city planning. The rise of edge computing also presents growth opportunities for real-time map updates in applications like autonomous vehicles and smart transportation systems.
North America dominates the digital map market, with the United States playing a key role due to its advanced technological infrastructure and investments in autonomous driving and smart transportation systems. The Asia-Pacific region is expected to grow rapidly, driven by urbanization, technological advancements, and demand for navigation and smart infrastructure solutions. Countries like China, India, and Japan are investing heavily in digital mapping for smart city initiatives and transportation networks. The digital map market in various countries is growing due to increased adoption of mapping technologies, particularly in the automotive, GIS, and location-based industries. Development and integration services dominate the market, with the automotive sector leading in end-use applications, relying on digital maps for autonomous vehicles and ADAS. HERE Technologies and TomTom have introduced advanced map products for transportation efficiency and autonomous vehicles in 2023.
The market segments for digital maps include GIS, LiDAR, digital orthophotography, aerial photography, and GPS. Services such as consulting, development & integration, and support & maintenance are essential for creating tailored mapping solutions. Applications range from asset tracking to routing and navigation, with end-uses spanning automotive, military, mobile devices, and infrastructure development.
Recent advancements by HERE Technologies and TomTom in AI-driven map products and high-definition mapping for autonomous vehicles have enhanced transportation systems. The digital map market analysis covers market dynamics, trends, competitive landscape, segmentation by type, mapping type, service, application, and end-use, as well as regional analysis and company profiles. SNS Insider offers consulting services for go-to-market assessment, total addressable market assessment, and competitive benchmarking in the digital map market.
SNS Insider is a leading global market research and consulting agency providing clients with the latest market data, consumer insights, and opinions to make confident decisions in changing environments. Their research techniques include surveys, video talks, and focus groups worldwide to offer accurate and current information for clients.
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