Digital Map Market Size, Share & Trends Analysis Report By Solution (Tracking and Telematics, Catchment Analysis, Risk Assessment and Disaster Management, Route Optimization and Planning, Geo Analytics Visualization), By Services (Consulting, Cross-Platform Support, Deployment and Integration), By Vertical (Energy and Utilities, Construction and Engineering, Logistics, Government & Defense, Automotive, Retail & Real Estate, Others), By Mapping Type (Outdoor Mapping, Indoor Mapping, 3D and 4D Metaverse), By Application (Real-Time Location Data Management, Geocoding and Geo-positioning, Routing and Navigation, Asset Tracking, Reverse Geocoding, Other Applications) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global digital map market size was valued at USD 19.13 billion in 2022. It is projected to reach USD 55.2 billion by 2031, growing at a CAGR of 12.5% during the forecast period (2023–2031).

The digital map, also known as cartography, is an electronic map whose functionality integrates various graphical elements provided to it as data. Data used to create digital maps was collected from the environment. In digital mapping, data are gathered and assembled to create a digital representation of an area. The collected information is used to create digital maps that accurately represent a specific area or feature, complete with significant rivers, roads, and important landmarks like hospitals, airports, etc.

Demand for digital map solutions is rising due to the proliferation of ride-hailing, car-sharing, and car-pooling apps, the inclusion of travel-related services in mobile applications, and the development of the wearables market.

Market Dynamics

What are the Main Factors Driving the Market for Digital Maps?

Rising Adoption of Mobile Computing Devices for Navigation

Smartphones and tablets, two types of mobile computing devices, are advancing and diversifying due to the rapid pace of technological change. Map software, now commonly preinstalled on smartphones, is one of the newest features available in this category. It's no secret that smartphone owners frequently consult their in-built mapping apps for directions and other driving aids. Moreover, these people use GPS and GIS apps to look up nearby businesses like cafes, movie theatres, and other points of interest using geo-referenced data. Accurate 3D spatial information is typically captured using mobile computing devices these days. A personal digital assistant (PDA) is a software agent that can complete tasks or provide services for its user by utilizing data from the user's computer, physical location, and a wide range of online sources.

What are the Main Factors that will Slow Down the Market for Digital Maps?

Lack of Expertise

Due to a lack of knowledge and skilled technicians, most businesses that rely on location-based solutions and analytics cannot fully exploit the benefits of digital mapping technologies. The slow adoption of digital mapping solutions can be attributed partly to the fact that more people need to be more familiar with the issues they solve or the existence of possible solutions. So, boosting customer education and familiarity with available options using company blogs, forums, industry conferences, and Rol analysis may contribute to expanding the digital maps market worldwide.

What are the Future Opportunities for Digital Maps?

Rising Demand for Real-Time Mapping of Data

With the help of real-time maps, it is possible to create digital representations that are rich, accurate, and up-to-date. By creating maps that update in real time, businesses can examine and present data from sensors, gadgets, and social media in near real-time. It sends alerts as soon as an event occurs and automatically updates relevant databases, allowing quicker decision-making and response times. Integrating maps with real-time data also makes it simpler for programmers to take advantage of all the data they can get their hands on, leading to more thorough mapping APIs and SDKs for monitoring assets and transportation. These application programming interfaces (APIs) are installed in the operating systems of autonomous vehicles, allowing businesses to relay data in real-time to tracking apps about road conditions and newly mapped areas. A police department can better manage and improve real-time law enforcement response and public safety using GIS in Real-Time Crime Centers (RTCC).

Regional Analysis

The global digital map market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant shareholder in the global digital map market and is expected to grow during the forecast period. Rapid technological advancement in the automotive and mobile device sectors encourages the adoption of digital maps, and the North American digital map market is expected to dominate the global market. The advent of autonomous vehicles and unmanned aircraft systems is also anticipated to propel the digital map market forward. Due to rising investments for improvements in mapping technology and rising demand for geo-spatial information from various end-use industries like automotive, retail, and utilities, the digital map market in North America accounted for the largest revenue share.

Asia-Pacific is expected to grow during the forecast period. China, India, Japan, Australia, and the rest of Asia-Pacific are all included in the Asia-Pacific digital map market analysis. As governments make more significant efforts to close the gap between digital and geospatial technologies, the vigorous enforcement of various new technologies will likely contribute to expanding the regional market. Digital mapping technology is used extensively in the area for surveying and mapping plantation crops and for rural and agricultural development. Further, rapid infrastructure development in several countries in the region is anticipated to spur greater use of digital maps in urban policy and development initiatives. Some countries, like Japan and China, have already begun to use GIS technology in various sectors to collect and analyze data to understand the market better. The Chinese government actively promotes GIS software for state and military purposes.

Due to rising demand for location-based services, widespread availability of inexpensive GPS devices, and widespread rollout of 4G, Europe is expected to take the lead in the global market shortly. The retail industry's continued expansion and the general use of in-store mapping have contributed to the rising need for location information services. One company that meets this demand is Caliper Corporation, which develops retail mapping software for stores. Key players in the digital map industry are expected to engage in mergers and acquisitions as the market matures. 

South America's digital map market is expanding with rising demand for digital signage in retail, transportation, and government, among other industries. Strong economic growth in countries like Saudi Arabia and the UAE, among others, and a burgeoning automotive industry in the region bodes well for the Middle East and Africa region's global market share. We can anticipate exploration in developing areas and a rise in demand for real-time data and information in developed countries.

Segmental Analysis

The global digital map market is segmented by solution and vertical.

By Solution Analysis

Based on the solution, the global market is bifurcated into tracking and telematics, catchment analysis, risk assessment and disaster management, route optimization and planning, and geo analytics visualization.

The tracking and telematics segment is the highest contributor to the market and is expected to grow during the forecast period. Vehicle tracking, oil and gas fleet management to increase worker safety and construction fleet management using GPS tracking to automatically record work hours are just a few of the many uses for digital maps. GPS tracking allows fleet owners to keep tabs on their vehicles at all times, preventing costly issues like speeding and other reckless driving habits like harsh acceleration. A GPS tracking system's pre-set time limits and calendar templates can help prevent vehicles from being used outside approved business hours.

By Vertical Analysis

Based on vertical, the global market is bifurcated into energy and utilities, construction and engineering, logistics, government & defense, automotive, retail & real estate, and others.

The retail & real estate segment is the highest contributor to the market and is expected to grow during the forecast period. Using a digital map, shopping centers and other large retail establishments can share their store and venue maps with customers using a variety of mediums, including mobile apps, sizeable digital directory displays, and responsive web browsers. Additionally, shoppers can easily understand the retail place layout with the help of a digital map of the shopping mall, and an interactive map allows customers to zoom, rotate, and pan to view all stores and the products and services offered. In addition, retail centers can enhance their customers' mall-going experiences by publicizing deals, specials, and other promotions.

Impact of covid-19

As part of steps to control the transmission of the COVID-19 pandemic, governments in several nations have limited the movement of commodities and people and suspended the functioning of manufacturing facilities. It has impacted power usage throughout the world. As per the short-term forecast of the United States Energy Information Administration (EIA), electricity consumption in the United States is expected to fall by a record 4.5% by the end of 2020, as businesses have temporarily shut down due to the government lockdowns to stop the prevalence of the coronavirus. As a result, global demand for and manufacturing instrument transformers is expected to fall.

Recent Developments

• April 2022- Mapbox provides next-generation navigation upgrades in Toyota and Lexus vehicles.
• November 2022- Tencent Cloud and NavInfo Europe Have Announced a Partnership to Provide Safe and Compliant Cloud and Cybersecurity Solutions for the Automotive Industry.