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Digital Map Market 2018- Revenue, Price and Gross Margin Research Report 2018
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Digital mapping has gone mainstream and has opened up a whole new range of possibilities in recent years. The global digital map market is on a positive growth trajectory and is projected to witness high growth in the future, asserts Market Research Future (MRFR) in a detailed research report. Digital maps provide the most accurate reflection of a location to the users by frequently updating data collected from the culmination of the satellite as well as street-level information. Also known as cartography, digital mapping has been gaining relevance in vehicle routing, tracking, territory planning, and other applications. Digital maps are used in an array of applications ranging from house-to-house delivery to management for real estate business.
The spiraling rise in the number of smartphones and high penetration rate of the internet across the globe has helped the global digital map market gain momentum. Consumer reliance on digital mapping applications such as Google Maps for locating places such as restaurants, ATMs, hospitals, and other places have increased significantly, boosting the growth of the global digital map market.
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The automotive industry has been a frontrunner in the integration of digital maps into its existing technology. Digital maps have gained prominence in navigation and self-driving car technology which facilitate real-time mapping. Other areas of automotive applications include Advanced Driver Assistance Systems (ADAS), fleet management, and logistics control system. Tracking of natural calamities, monitoring of other environmental emergencies and the calculation of the distance between places are among the desirable features of digital mapping which contribute to the growth of the digital map market.
Increase in the use of geospatial information in a plethora of applications such as emergency management, urban planning, business planning, logistics and other have also paved the way for market expansion.
Technological advancements in digital map technology in terms of components and mapping software are expected to propel the demand for digital maps. Furthermore, Growing application of digital maps across various industry verticals is expected to support the growth of the Digital Map Market. On the contrary, high investment in data collection is likely to restrain the growth of the market.
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