Digital map market size to increase by USD 13.69 billion | APAC to account for 41% of market growth – Technavio

NEW YORK, Dec. 11, 2023 /PRNewswire/ — The Digital Map Market by Application, Type, and Geography – Forecast and Analysis 2023-2027 report has been published by Technavio. Market size is forecast to grow by USD 13.69 billion between 2022 and 2027 at a CAGR of 22.95%. By region, the global digital map market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. APAC will account for 41% of market growth during the forecast period. Factors such as the increased penetration of smartphones and significant improvements in digital connectivity scenario are driving the growth of the digital map market in APAC. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download A PDF Sample Report

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Company Profiles

The digital map market report includes information on the key products and recent developments of leading vendors, including:

Alphabet Inc. – The company offers digital map solutions such as The Digital Map of Apulum.Apple Inc. – The company offers digital map solutions such as Maps.CACI International Inc. – The company offers digital map solutions such as Mapping and routing data.Elbit Systems Ltd. – The company offers digital map solutions such as Digital Map.

Market Dynamics

The market is driven by factors such as the adoption of intelligent PDAs, the proliferation of social networking, and the increased adoption of IoT devices. However, inaccurate results and high battery drainage in smart devices are hindering the market growth.

Competitive Analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Request a Sample

Market Segmentation

By application, the market is segmented into navigation, geocoders, and others. The navigation segment accounted for the largest share of the market in 2022.By geography, the market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. APAC held the largest share of the market in 2022.

Related Reports:

The geographic information system analytics market size is expected to increase to USD 17.61 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 16.48%. The mobile map market size is expected to increase by USD 6.73 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 18.41%. 

What are the key data covered in this digital map market report?

CAGR of the market during the forecast period.Detailed information on factors that will drive the growth of the market between 2023 and 2027Precise estimation of the size of the digital map market and its contribution to the parent market.Accurate predictions about upcoming trends and changes in consumer behavior.Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa.A thorough analysis of the market’s competitive landscape and detailed information about vendors.Comprehensive analysis of factors that will challenge the growth of digital map market vendors

TOC

Executive SummaryMarket LandscapeMarket SizingHistoric Market SizeFive Forces AnalysisMarket Segmentation by ApplicationMarket Segmentaion by TypeCustomer LandscapeGeographic LandscapeDrivers, Challenges, and TrendsCompany LandscapeCompany AnalysisAppendix

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SOURCE Technavio