Global Digital Map market size is projected to reach 28.3 billion USD by 2025

Author: QYResearch  |   Published Date: 2018-05-25   |   Views: 264

The global digital map market size accounted for USD 8.06 billion in 2017 ­­and is projected to reach USD 28.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.

The industry is expected to exhibit rapid integration of geomatics systems including mapping, Global Positioning System (GPS), and imagery, wherein key players would increasingly try to develop and launch multi-platform applications. In addition, the rapid speed at which the automotive sector has been adopting digital mapping applications for usage in self-driving cars is also instrumental in increasing the competition in the industry. The automotive applications are, however, not only related to self-driving cars but also extend to a range of other applications including fleet management, logistics control systems, and Advanced Driver Assistance Systems (ADAS), to name a few.

Recent developments in the market including the acquisition of Nokia’s HERE by Daimler, Volkswagen, and BMW in 2015 and the investments by Apple to deploy sensor-based cars for mapping are a testament to the evolving structure of the industry. Though major players such as Google (for consumer mapping) and HERE (for automotive mapping in North America and Europe) have an edge in terms of technology deployed and collected database, many new players have been quite successful in the industry. However, the role played by open-data repositories such as OpenStreetMap and Open Addresses is also expected to be an important factor in shaping the competitive landscape of the market.

The digital map construction, however, includes a considerable amount of investment in terms of sensors, the technology employed for data collection, and the mode of data collection, which can limit the number of players entering the development segment. Yet, a large number of application providers who cater to niche segments and utilize novel techniques to build upon the existing data sets are expected to flourish over coming years.


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