Digital maps are electronic maps created by assimilation of topographical data of regions and surrounding areas. These maps are designed by gathering information from several navigation satellites for indoor and outdoor usage. Military & defense, automotive, mobile devices, government & public sector, and enterprise solutions are the major application areas of digital maps. However, with the advent of Geographic Information Systems (GIS) to capture, analyze, and store geospatial data can extend the application of digital maps to navigation, archaeology, and infrastructural projects.
Wayfinding Made Easy
Indoor and outdoor usage are the two major end-uses of digital maps, where the indoor use segment is expected to expand at a CAGR of 13.5% over the forecast period (from 2017 to 2025) due to high demand for indoor maps. In addition, continuous infrastructural development in the form of educational institutions and commercial complexes are expected to induce the segment demand as a result of a large number of consumers visiting these places. For example, The new MediNav Navigator 3.0. designed by Connexient, a U.S.-based company. The new navigation system is designed to assist hospitals and consumers in reducing the probability of late appointments.
The outdoor segment is also anticipated to gain significant demand owing to its applications in navigation, fleet management, disaster management, and risk analysis. Developments in the self-driving technology and rise of autonomous and semi-autonomous vehicles can bode well for the segment. For instance, Ambarella Inc., a U.S.-based company focusing on self-driving cars, is relying on digital maps to recognize landmarks to assist in navigation. The integration of stereo cameras in its cars helps the sensors identify three-dimensional objects and make rapid decisions.
Market Outlook
The digital map market is expected to reach at USD 8.76 billion by 2025, as per the latest report by Grand View Research, Inc. It is anticipated to expand at 11.5% CAGR from 2017 to 2025 due to transition to smartphones and consumer-centric applications from personal navigation devices. Rise of connected and semi-autonomous vehicles and continuous developments in the self-driving technology are also projected to bode well for the market. Emergence of applications such as logistics management, traffic and congestion intelligence, and smart parking are expected to provide new growth opportunities to the market. Prominent market players include Apple Inc.; Google, Inc.; TomTom International B.V.; and ESRI, Inc.
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