According to the report, one of the key drivers for market growth will be evolution of geomarketing business. Geomarketing and advertising provide numerous opportunities for businesses and benefits for customers to achieve rich customer experience and engagement in shopping activities.
Technavio Announces the Publication of its Research Report Global Digital Map Market 2016-2020
Technavio recognizes the following companies as the key players in the global digital map market: Alibaba, Apple, Google, HERE, Micello, and NavInfo.
Other Prominent Vendors in the market are: AND, ARC Aerial Imaging, Baidu, Bing Maps, Environmental Systems Research Institute, Geoportail, Getmapping, Magellan Navigation, MAPMECHANICS, MapmyIndia, MapQuest, MapSherpa, NearMap, OnStar, OpenStreetMap, PeopleNet, Roadtrippers, Sensewhere, TeleNav, TomTom, Traceon, ViaMichelin S.A.S., Wanadoo Maps, and Zenrin.
Commenting on the report, an analyst from Technavios team said: One of the key trends for market growth will be the increase in use of 3D platforms. Digital technology has penetrated every aspect of the mapping process such as raw data collection, map compilation and design, and final map production.
Advanced mapping technology has also replaced conventional stereo plotters with digital imaging systems. The adoption of advanced technologies for surveying and map-making has resulted in developing more accurate 3D digital maps.
Depending on the users location, required information about nearest restaurants, services, shopping malls, bars, and lounges would be delivered to customers through the proximity marketing service. Proximity-based solutions not only provide relevant offers and information to customers but also help companies to track data regarding people at different venues and locations.
Further, the report states that stringent regulations will be a major challenge for the market.Most countries presume that digital maps in high-security zones pose a potential risk to the nation, as they may expose the areas to terrorist attacks.
Therefore, governments in many countries do not allow vendors to provide digital maps of areas that have high-security installations. For instance, the Chinese government does not allow many digital map content providers to conduct aerial surveys in China.
Similarly, it is difficult for vendors to get permission from governments to develop map content.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
About Digital Mapping
Digital mapping is a process in which a collection of data is compiled to produce maps, in the form of virtual images, which accurately represent a particular geographical area, the major roads, rivers, and important landmarks such as airports, tourist attractions, and hospitals in and around the region. Digital mapping technology can also be used to calculate distances between different places.
Technavios analysts forecast the global digital map market to grow at a CAGR of 13.79% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global digital map market for 2016-2020. The report has taken into consideration the annual sales of licensed digital maps.
The market is divided into the following segments based on geography:
Technavio's report, Global Digital Map Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.
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