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With a robust CAGR of 14.3%, navigate the future of navigation and location-based services. Stay ahead in this rapidly expanding market.
— Emergen Research
VANCOUVER, BRITISH COLUMBIA, CANADA, June 15, 2023/EINPresswire.com/ — The Latest research study released by Emergen Research on “Digital Map Market” with 150+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps in identifying the importance of different factors that leads the market growth.
The global digital map market size was USD 22.20 Billion in 2022 and is expected to register a steady revenue CAGR of 14.3% during the forecast period, according to latest analysis by Emergen Research. Increasing number of smartphone applications that use digital maps for navigation purposes, rising usage of digital maps for real time location, and rapid adoption of digital mapping for disaster management are key factors driving market revenue growth.
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Navigation has become easier because to recent developments in real-time mapping and remote sensing. Smartphone users can more easily locate and offer the accurate location using digital maps applications due to the GPS sensors that employ geolocation and are linked to mapping and navigation apps. The geolocation software collects data from any device whose coordinates are identified by a Global Positioning System (GPS). It is tracking the longitudinal and latitudinal coordinates of the possessor of a device. Rising usage of digital maps for real time location is expected to drive revenue growth of the market substantially. Digital Map Market, By Component (Solutions, Services), By Mapping (Outdoor Mapping, Indoor Mapping), By Application, By Industry Vertical and By Region Forecast to 2032.
Key Players Included in this report are:
Google, Apple Inc., ESRI, Nearmap, MapQuest, LightBox Holdings, L.P., Mapsted Corp., Caliper Corporation, Orbital Insight, and Geocento
What can be explored with the Digital Map Market Study?
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Digital Map Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Digital Map Market
Understand the Competitive Scenarios
Track Right Markets
Identify the Right Verticals
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Some Key Highlights From the Report
The services segment accounted for largest revenue share in 2022. This is due to rising number of digital mapping service providers globally and increasing number of digital mapping applications.
The outdoor mapping segment is expected to register a rapid revenue growth rate over the forecast period. Outdoor mapping is widely used by end users, such as travel and transportation, logistics, and others, in form of applications. Outdoor mapping includes mapping of streets, traffic as well as landmarks and therefore it can help users in navigation.
The travel and transportation segment accounted for largest revenue share in 2022. This is due to real time location systems, which have significantly helped in navigation in travel and transportation.
Market Segmentation Analysis
Players can concentrate on high-growth regions and, if necessary, modify their business plan according to the research report. The Digital Map Market is divided into a variety of categories, uses, and geographical areas. Players gain from the report’s regional segmentation research since it offers pertinent data and insights into important geographic marketplaces.
Component Outlook (Revenue, USD Billion; 2019-2032)
Solutions
Services
Mapping Outlook (Revenue, USD Billion; 2019-2032)
Outdoor Mapping
Indoor Mapping
COVID-19 Impact Analysis
The post-COVID-19 phase has undergone substantial change, and Digital Map Market research highlights the opportunities and difficulties that still exist. This study report thoroughly examines the effects of the COVID-19 pandemic on the global economy and post-pandemic market behaviour.
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Regional Outlook
We carefully examined each division, regional classification, national study, and subject-specific data set during the market research. This Digital Map Market research report’s goal is to look at growth patterns, promising futures, important obstacles, and expected results. Information on significant market participants, strategic alliances, plans, new product launches, and joint ventures are all included in the research.
Key Reasons to Purchase Digital Map Market Report
The reader will be in a position to comprehend and react to marketing strategies like using strengths and conducting a SWOT analysis.
The research looks into the dynamics of the target market and how the conflict between Russia and Ukraine has affected it.
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