The digital map market is likely to reach a value of US$ 30,615.4 Mn by 2026 from US$ 8,043.5 Mn in 2017, expanding at a CAGR of 16.2% during the forecast period.

Albany, NY -- (SBWire) -- 09/26/2018 --The increasing applications of location based services for commercial and personal use is expected to be the primary driving factor behind the growing demand for digital maps worldwide. In addition, the widespread usage of electronic devices such as smartphones are expected to boost growth of digital map usage for the foreseeable future. Revenue earned from the digital map market are estimated to grow at an impressive CAGR of 16.2% through 2026. These insights have been taken from the report titled "Digital Map Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026" added recently to the huge repository of Market Research Reports Search Engine (MRRSE).

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Increasing number of mobile map apps users are expected to contribute to a rapidly increasing demand for relevant software solutions and services, particularly in North America and Europe. Rising demand for outdoor digital maps in the automotive navigation sector is also expected to contribute positively to market growth owing to easy and efficient operations, at affordable costs, that facilitates improved decision making. On the other hand, the free availability of crowd-sourced maps is anticipated to be a major constraining factor in the growth of the digital maps market.

Key players are focusing on Product innovation and upgrade of research and development in order to gain competitive advantages.

Digital Map Market: Report Overview

This report provides readers with regional as well as global-level analysis & forecasts on the digital map market, in terms of value (US$ Mn), for the period of forecast 2018 to 2026. Important business dynamics such as social, political and economic factors that are estimated to impact the requirement and demand for digital maps have been highlighted and examined in the report.

An in-depth value chain analysis on the digital map industry has been given in the report, and the Porter's Five Forces model has been effectively utilized for helping the readers understand the competitive scenario among leading as well as new market players. A comprehensive market attractiveness analysis has been included in the report, where applications have been benchmarked on the basis of factors such as market size, general attractiveness, and growth rate.

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Digital Map Market: Research Methodology

Detailed discussions and extensive interviews have been conducted with a number of eminent industry experts and opinion leaders in order to develop this report. Exhaustive primary and secondary research methodologies have been made use of, which have helped in in the compilation of reliable intelligence on the digital map market. Primary research represents the bulk of the research efforts, which has been supported by an extensive secondary research.

Prominent companies and new entrants in the digital map market have been reviewed, while reliable data sources such as press releases, annual reports, and relevant documents have used for extracting an accurate analysis on the market's competitor landscape. The research approach employed has been tested and proven to be a most effective approach to get precise intelligence on the market data, recognizing latent business opportunities, and extracting useful insights on the industry participants.

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