Digital Map Market is Growing Due to the Increase in the Use of Smartphones Increase in the Use of Geospatial Information
According to a comprehensive research report by Market Research Future (MRFR), ” Digital Map Market By Type, By Functionality, By Application, By Technology Forecast till 2030”, the market is predicted to thrive substantially during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 13.70% to attain a valuation of around USD 25.3 Billion by the end of 2030.
The digital map market refers to the global market for digital mapping and navigation services, which provide accurate and up-to-date geographical information and visual representations of geographical data. These maps can be accessed through various platforms, such as smartphones, tablets, and GPS devices, and can be used for various purposes, such as navigation, geolocation, and data analysis.
The digital map market is being driven by several factors, including the growing adoption of location-based services (LBS), the increasing use of digital maps in the automotive industry, and the rise of the Internet of Things (IoT) and smart cities.
One of the key drivers of the digital map market is the growing adoption of location-based services (LBS) by consumers and businesses. LBS provides real-time information and services based on the user’s location, such as traffic updates, weather forecasts, and nearby points of interest. This has led to an increased demand for accurate and up-to-date digital maps, which provide the foundation for LBS.
Market Competitive Landscape:
The affluent companies in the Digital Map industry include
- Google (Alphabet Inc.)
- HERE Technologies
- MiTAC International Corporation
- Digital Map Products