Digital Map Market worth $47.8 billion by 2029, growing at a CAGR of 11.1%: Report by MarketsandMarkets™
Chicago, May 15, 2024 (GLOBE NEWSWIRE) -- The *Digital Map Market* is expected to grow from USD 28.3 billion in 2024 to USD 47.8 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 11.1%during the forecast period, according to new research report by MarketsandMarkets™
The demand for digital map solutions is increasing globally due to the higher demand for reduced maintenance costs, reduced repair downtime, improved asset utilization, and increased overall plant productivity.
*Browse in-depth TOC on "**Digital Map* *Market"*
*324 - Tables
62 - Figures
314 - Pages*
*Download PDF Brochure *@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=174129746
*Digital Map* *Market* *Dynamics:*
*Drivers:*
· Rise in smartphone and internet usage driving demand for digital maps
· Growth in usage of 3D platforms reshaping map visualization and accuracy
· GIS leverages AI & ML integration, enabling personalized services and complex spatial analysis tasks
· High emphasis on real-time guidance, route options, and nearby amenities via advanced navigation systems
*Restraints:*
· Risk of unauthorized access and data breaches
· Regulations and legal issues
*Opportunities:*
· Geospatial data analytics driving optimized resource allocation and sustainable development
· Increase in focus on SDKs and APIs, empowering indoor mapping solutions
· Integration of IoT and smart cities, allowing informed decision-making, predictive maintenance, and real-time monitoring
· Increase in implementation of 5G networks
*List of Key Players in **Digital Map* *Market:*
· Google (US)
· Apple (US)
· TomTom (Netherlands)
· Esri (US)
· Here Technologies (Netherlands)
· Nearmap (Australia)
· Inrix (US)
· Lightbox (US)
· ServiceNow (US)
· Inpixon (US)
*Request Sample Pages*: https://www.marketsandmarkets.com/requestsampleNew.asp?id=174129746
*Based on the offerings, the solution segment will gain the highest market share during the forecast period.*
Solutions typically addressed within digital maps comprise mapping information, web mapping, and GPS-enabled services. Map building blocks, such as APIs and SDKs, as well as analytical tools and transport information, could be used to deploy mapping information and online cartography. Continuous advancements in GIS technology have expanded the capabilities of digital maps, enabling them to provide more detailed and accurate spatial data. Innovations such as real-time traffic updates, 3D mapping, and indoor mapping have enhanced the utility of digital maps across various industries.
*Based on purpose*, *the real-time traffic maps segment will grow at the highest CAGR during the forecast period*.
Real-time traffic maps display current traffic conditions and congestion levels on road networks in real time. They use data from various sources, including GPS-enabled vehicles, traffic sensors, and cameras, to provide up-to-date information about traffic flow and incidents. Real-time traffic navigation maps in digital mapping applications provide users with up-to-date information about traffic conditions, congestion, accidents, and road closures to help them navigate efficiently and avoid delays. Real-time traffic navigation maps visualize traffic conditions using color-coded overlays on the map. Different colors represent varying levels of traffic congestion, with green indicating free-flowing traffic, yellow indicating moderate congestion, and red indicating heavy congestion or standstill traffic. Other colors may denote road closures, construction zones, or incidents.
*Inquire Before Buying: *https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=174129746
*Based on mapping type*, *outdoor mapping will hold the largest market size during the forecast period.*
Geo-marketing and publicity, asset tracking, personal tracking, customer location tracking, fleet tracking, freight management, route optimization and planning, mapping discovery, infotainment, geographic event alerts, and defense management are significant applications covered by outdoor mapping. Outdoor mapping contributes most of the market share as multiple-use scenarios fit in the outdoor mapping domain. Outdoor mapping in digital maps refers to the representation and navigation of outdoor environments, such as parks, trails, wilderness areas, and natural landmarks, using digital mapping technologies. These maps provide detailed information about outdoor recreational opportunities, points of interest, terrain features, and navigation routes.
*Browse Adjacent Markets*: Software and Services Market Research Reports & Consulting
*Related Reports:*
*Cloud-based Contact Center Market*
*Railway Management System Market*
*Loyalty Management Market*
*Event Management Software Market*
*Digital Asset Management Market*
CONTACT: About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com