Technology
Digital Map Market Size to Grow by USD 8.59 billion | Market Research Insights Highlight Increased Adoption of IoT Devices as Key Driver | Technavio

Digital Map Market Size to Grow by USD 8.59 billion | Market Research Insights Highlight Increased Adoption of IoT Devices as Key Driver | Technavio

NEW YORK, Jan. 31, 2022 /PRNewswire/ — According to the report “Digital Map Market by Application, Use, and Geography – Forecast and Analysis 2021-2025“, the market will witness a YOY growth of 24.14% in 2021 and a decelerating CAGR of 22.94% during the forecast period. The report is segmented by application (navigation, geocoders, and others), use (outdoor and indoor), and geography (APAC, North America, Europe, South America, and MEA).

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The digital map market covers the following areas:

Digital Map Market Sizing

Digital Map Market Forecast

Digital Map Market Analysis

Vendor Insights 

The digital map market is fragmented, and the vendors are deploying growth strategies such as developing innovative products and solutions to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • Alibaba Group Holding Ltd.
  • Alphabet Inc.
  • Apple Inc.
  • Digital Map Products Inc.
  • Environmental Systems Research Institute Inc.
  • HERE Global BV
  • indoo.rs GmbH
  • NavInfo Co. Ltd.
  • Nearmap Ltd.
  • TomTom International BV

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Free Sample Report.

Geographical Market Analysis 

APAC will provide maximum growth opportunities in digital map market during the forecast period. According to our report, the region will contribute to 41% of the global market growth and is expected to dominate the market through 2025. China, Japan, and India are the key markets for digital maps in APAC. Market growth in APAC will be faster than the growth of the market in other regions. 

Know more about this market’s geographical distribution along with the detailed analysis of the top regions. View Our Report Snapshot 

Key Segment Analysis

The digital map market share growth by the navigation segment will be significant during the forecast period. Navigation maps are charts for navigators to display the meteorological, hydrographic, and navigational conditions. These maps are used in automotive applications. The adoption of digital maps is prevalent in automotive applications for driver assistance applications.

View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years. 

Key Market Drivers & Challenges: 

The increased adoption of IoT devices is driving the growth of the digital map market growth. Many IoT devices and applications use digital maps for their services, which is driving the satellite map market growth.

However, factors such as security and privacy of mobile apps may challenge market growth. There is a pressing need to adopt best practices for data security, app security, and privacy due to the accelerating use of mobile application-based location services integrated with digital maps.

Download free sample for highlights on market Drivers & Challenges impacting the digital map market. 

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Related Reports: 

IoT Data Management Market by Deployment and Geography – Forecast and Analysis 2022-2026

Smart City Platform Market by Application and Geography – Forecast and Analysis 2022-2026

Digital Map Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 22.94%

Market growth 2021-2025

USD 8.59 billion

Market structure

Fragmented

YoY growth (%)

24.14

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 41%

Key consumer countries

US, China, Germany, Japan, India, and Mexico

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alibaba Group Holding Ltd., Alphabet Inc., Apple Inc., Digital Map Products Inc., Environmental Systems Research Institute Inc., HERE Global BV, indoo.rs GmbH, NavInfo Co. Ltd., Nearmap Ltd., and TomTom International BV

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us: 

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. 

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