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™
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A digital map visually represents spatial information, including streets, landmarks, topography, transportation networks, points of interest, and more. To create detailed and interactive representations of the physical world, utilize various data sources and technologies, including satellite imagery, aerial photography, geographic information systems (GIS), and crowdsourced data.
By application, the routing and navigation data segment will hold the largest market size during the forecast period.
Routing and navigation data in digital maps are critical for providing accurate and efficient directions to users. Road networks are detailed information about roads, streets, highways, and other pathways, including their geometry, connectivity, speed limits, and classifications. Turn restrictions include legal or physical limitations on turning movements at intersections, such as no-left-turn or no-right-turn restrictions. Elevation data is the information about changes in terrain elevation, such as hills, mountains, valleys, and slopes. Elevation data is essential for route planning, especially for hiking, biking, and driving in mountainous regions. Transit information is the data on public transportation services, including bus routes, train lines, subway systems, schedules, stops, and fares. Transit information lets users plan multi-modal journeys and includes details like service frequencies, departure times, and transfer points.
By region, the Asia Pacific will grow at the highest growth rates during the forecast period.
The digital maps market in the Asia Pacific region is propelled by technological advancements, notably the widespread adoption of smartphones and the increasing popularity of location-based services. Navigation and mapping applications play a pivotal role in this growth trajectory. Factors such as the rising demand for location-based services, the rapid expansion of e-commerce and on-demand delivery services, and increasing smartphone penetration contribute to the robust market growth. Despite data privacy concerns and internet connectivity issues in remote areas, the demand for real-time and dynamic mapping solutions is expected to fuel further market expansion. Major players in the region include Apple, Inpixon, and INRIX. With the rapid urbanization and infrastructure development in countries like China and India, there's a growing demand for accurate and up-to-date digital maps for urban planning and logistics optimization. Mobile navigation applications are gaining popularity in densely populated cities, driving the growth of the digital map market in the region. Governments in the Asia-Pacific region are investing in geographic information systems (GIS) for better urban planning, disaster management, environmental conservation, and public service delivery.
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Key Players
Some of the key players operating in the digital map market are – Google (US), Apple (US), TomTom (Netherlands), Esri (US), Here Technologies (Netherlands), Nearmap (Australia), Inrix (US), Lightbox (US), ServiceNow (US), Inpixon (US), Microsoft (US), and Maxar Technologies (US).
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