Digital Map Market Size Worth USD 3,679 Million by 2023 | CAGR: 12.61%: Allied Market Research

Increase in the usage of 3D platforms & advanced technologies for surveying and making digital maps drive the growth of market.

PORTLAND, PORTLAND, OR, UNITED STATE, September 29, 2022 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "Digital Map Market Size Worth USD 3,679 Million by 2023 | CAGR: 12.61%: Allied Market Research ." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

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Increase in the use of geospatial information, growth in use of smartphones, and advancements in technology drive the growth of the global digital map market. However, availability of free crowdsourcing digital maps and legal challenges restrict the growth of the market.

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The global digital map market is segmented on the basis of usage, functionality, and region. Usage covered in this study include indoor and outdoor applications. By indoor applications, the market is classified into airports, malls, and departmental stores. By outdoor applications, the market is divided into automotive navigation, mobile & the internet, public sector agencies, and enterprises. Based on the functionality, the market categorized into computerized, scientific, and GPS navigation.

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The global digital map market is characterized by the presence of international market players. These companies tend to expand their market presence by adopting strategies, such as product development. Some of the key players operating in the digital map include Apple Inc., Google Inc, HERE, Micello, Inc., TomTom International BV, MiTAC International Corporation, ARC Aerial Imaging Limited, Esri, Nearmap Ltd., and MAPQUEST.

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Key Findings of the Digital Map Market:

• The usage segment is expected to grow at the highest CAGR during the forecast period.

• The GPS type segment dominated the market in 2016.

• North America was the highest contributor in the overall digital map market size in 2016; however, in terms of growth, the market in Asia-Pacific is estimated to grow at the highest rate.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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