New York, NY -- (SBWire) -- 07/25/2019 --Market Size – USD 5.52 billion in 2018, Market Growth - CAGR of 11.9%, Market Trends – Increasing use of smartphones

The global digital maps market is expected to reach USD 13.61 Billion by 2026, according to a new report by Reports and Data. A digital map is an electronic representation of a traditional paper-based map, with all the similar information comprising points of interest, roads, conurbations, and boundaries, among others. Nevertheless, unlike the conventional maps, digital maps enable users to do a host of things to the map, including, add additional information such as a path, lane or new road, and using the map to calculate distances.

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Increasing use of digital maps in the automotive industry is estimated to stimulate market growth. Digital maps are widely used for locating and tracking vehicles through GPS satellites. Autonomous cars have an array of sensors required to map the surroundings and provide precise location and movement data, which is processed by the car's central computer so it can make instant decisions. The better the initial digital mapping data, the fewer data the car will have to process and interpret.

Advancements in digital mapping technology are anticipated to drive the market growth in the forecast period. Geographic Information Systems (GIS), LIDAR, and InSAR, among others, can be used to incorporate and process spatial data for applications ranging from simple mapping to supporting resource exploration; from environmental supervision and management to the planning and administration of transportation and telecommunications systems, urban development, utility infrastructures, and land use. These advanced technologies can be effectively used to handle the present day intricate urban problems about optimum utilization of available resources and infrastructure management.

Further key findings from the report suggest
- Tracking and telematics solutions are expected to have a significant growth rate in the forecast period and find application in vehicle tracking, oil and gas fleet management to enhance the security of safety workers, and manage construction fleets with GPS tracking for construction equipment, among others.

- LIDAR (Light Detection and Ranging), is a remote sensing technology that uses light as a pulsed laser to map structure comprising vegetation height, density, and other features across a region. These light pulses, combined with other data recorded by the airborne system generate accurate, 3D information related to the shape of the Earth and its surface characteristics.

- The outdoor application of digital maps held a larger market share in 2018 and is expected to grow at a rate of 11.2% in the forecast period as it assists in fleet management, environmental studies, land surveys, and disaster management, among others.

- Retail industry occupied a substantial market share in 2018 owing to the use of digital maps by several retailers to optimize their e-commerce data so that customers can explore products, make educated purchase decisions, and buy online.

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- The market in the North America region contributed to the largest market share in 2018 owing to the growth of end-user industries in the region.

- Key participants include AutoNavi Holdings Ltd., Apple Inc., Collins Bartholomew, DigitalGlobe Inc., Environmental Systems Research Institute (ESRI) Inc., Google, Getmapping PLC, MapData Services, HERE Holding Corporation, and Micello Inc., among others.

For the purpose of this report, Reports and Data have segmented the global digital map market on the basis of component, technology, functionality, application, industry verticals, and region:

Component Outlook (Revenue, USD Million; 2016-2026)
- Solution
o Tracking & Telematics
o Risk Assessment & Disaster Management
o Route Planning & Optimization
o Others
- Service
o Consulting
o Development
o Management

Technology Outlook (Revenue, USD Million; 2016-2026)
- GIS
- LIDAR
- InSAR
- Others

To identify the key trends in the industry, click on the link below:https://www.reportsanddata.com/report-detail/digital-map-market

Functionality Outlook (Revenue, USD Million; 2016-2026)
- Scientific
- GPS Navigation
- Others

Application Outlook (Revenue, USD Million; 2016-2026)
- Indoor
- Outdoor

Industry Vertical Outlook (Revenue, USD Million; 2016-2026)
- Automotive
- Energy & Utilities
- Mobile Devices
- Retail
- Military & Defense
- Government & Public Sector
- Others

Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
o U.S.
- Europe
o UK
o France
- Asia Pacific
o China
o India
o Japan
- Latin America
o Brazil
- MEA

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