Digital map is a technology that gives accurate representations of a specific region. Also called cartography, these electronic maps working is based on a combination of graphic elements assigned to it in the form of electronic information. The compiled data is used to produce digital maps that exactly represent a area or feature, including roads, rivers, and landmarks such as schools, companies, airports, hospitals, restaurants, grocery shops, and more. Digital mapping technology also finds application in calculating the distance between various places.
Portland, OR -- (SBWIRE) -- 01/04/2018 -- The global market was valued at $1263.0 million in 2014 and is likely to garner $4393.7 million in 2025, growing at a CAGR of 12.49% during the forecast period 2018-2025 according to Progressive Markets report, Digital Map Market Size, Trend, Share, Opportunity Analysis & Forecast, 2014-2025.
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The report provides a comprehensive review of the digital map market covering details on research methodology, digital map market size, digital map market share analysis, digital map market trends, digital map industry statistics, digital map market forecast, market dynamics, Porters analysis, and company profiles. The report is a useful tool as it helps identify the opportunities in the space and offers accurate information and forecasting that empowers qualitative decision making among market players, investors, shareholders, and new entrants.
The report provides an executive summary of the global digital map industry to help market players and new entrants understand the overall market status and plan strategies for growth. Market attractiveness helps measure the potential market value while trends analysis helps predict the future changes in the price of a stock. Key findings are listed in the report to help market players determine investment viability. The competitive landscape is provided to help industry players determine the competitive environment within the industry and take steps to gain a competitive edge.
The market landscape of the digital map market is provided in terms of the growth drivers, restraints and opportunities, Porters Five Forces analysis, and market share analysis. The rise and fall of the digital map industry are dependent on the drivers and restraints of the market. The drivers lead to the growth of the market while the restraints result in the downfall of the market. The drivers of the digital map market include the increasing use of 3D platforms and advanced technologies for surveying and making digital maps. Furthermore, the rise in the adoption of real-time digital maps provides the opportunity for the growth of the industry. Nonetheless, the growing adoption of free crowd-sourcing digital maps, strict regulations, and legal challenges cause hindrances to the growth of the digital map market.
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The report offers a detailed segmentation of the global digital map market based on usage, functionality, and geography. Based on usage, the digital map market is divided into indoor application and outdoor application. The indoor application segment is expected to garner $270.3 million in 2025 and grow at a CAGR of 10.73% during the forecast period. The outdoor application segment is expected to grow at a CAGR of 12.62% during the forecast period. Based on functionality, the market is classified as computerized, scientific, and GPA navigation. The scientific segment garnered $551.3 million in 2017 and is expected to grow at the highest CAGR of 12.98% during the forecast period. The GPS navigation sector is expected to grow at a CAGR of 12.69% during the forecast period. Based on geography, the digital map market is divided into North America, Europe, Asia-Pacific, and LAMEA. In North America, the market is analyzed across the U.S., Mexico, and Canada. In Europe, the market is studied in the UK, Germany, France, Russia, and the rest of EU. In Asia-Pacific, the industry is analyzed across China, Japan, India, Australia, and the other parts of Asia-Pacific. In LAMEA, the market is analyzed across Latin America, Middle East, and Africa.
The leading player in the Global Digital Map Market are:
* Apple Inc
* Google Inc
* Micello Inc
* TomTom International BV
* MiTAC International Corporation
* ARC Aerial Imaging Limited
* Nearmap Ltd
A more detailed analysis is available in the Progressive Markets report titled, 'Global Digital Map Market 2014- 2025'. Progressive Markets also customizes reports by other regions and specific segments upon request.
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