The automotive digital mapping market is expected to register a CAGR of 12.75%, during the forecast period (2018 - 2023).
The automotive industry has been at the forefront of innovation and has been proactively adopting technology to provide an enhanced experience to the end-user. With prospering economies, consumers across the globe have been observed to be moving towards purchasing products with an advanced features, which are expected to stay relevant in the market over the next few years, despite the rapid investments being made to innovate constantly within the industry.
Digital mapping has emerged as a crucial factor while developing autonomous cars, as they have to be accurate to help avoid collision with other objects within the field of view.
Digital mapping in the automotive sector has been evolving at a rapid pace, as a majority of the automobiles being manufactured are being fitted in with a navigation system to help assist the end-user by providing accurate navigational assistance.
Demand for ADAS Pushing the Market for Digital Mapping in the Industry
Advanced driver-assistance systems (ADAS) is expected to exponentially over the next few years, particularly owing to the regulatory and consumer interest in the safety applications that can help avoid accidents. With the mandating of ADAS systems within vehicles in certain North American and European countries has set the trend of installing these systems vehicles being manufactured within the region.
Asia-Pacific is set to follow this particular trend with the digital mapping market poised to witness a robust growth in the region, owing to the lion’s share of consumer population preferring to invest more on technology capable of saving huge amounts of monetary and human resources.
Asia-Pacific Market to Witness a Robust Growth during the Forecast Period
Asia-Pacific is home to the largest population across the globe, with the majority of the population being concentrated in the rapidly developing nations of India and China. With the population witness a rise in income levels, consumers are prioritizing investments in safety devices within the automobiles, and hence the rising purchasing power is set to propel the demand for ADAS and autonomous cars heavily in the region.
With the potential for sheer volume growth in the number of automobiles being operated on the busy streets of these developing nations, the market in the region is expected to witness a prosperous growth during the forecast period.
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Key Developments In The Market
February 2018 - Esri acquired ClearTerra location data extraction technology from clearshark. This acquisition will provide ArcGIS platform users the ability to easily discover and extract geographic coordinates from unstructured textual data like emails, briefings, and reports, instantly generating intelligent map-based information
January 2018 - Getmapping launched Mobile Mapping Survey Solutions into Southern Africa. The Mobile Mapping System enables the rapid and simultaneous collection of both high-resolution panoramic imagery and high-density point cloud data from a moving vehicle
Major Players - ESRI INC., GOOGLE INC., APPLE INC., GETMAPPING PLC, MICELLO INC., TOMTOM INTERNATIONAL BV, DIGITAL GLOBE INC., HERE HOLDING CORPORATION, MITAC INTERNATIONAL CORPORATION, NEARMAP LTD., ARC AERIAL IMAGING LIMITED, amongst others.
Reasons to Access this Report
To gain insight into the competitive landscape and understand the key market dynamics in the Digital Mapping sector in the Automotive Sector
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segments that are expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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ESRI Inc., Google Inc., Apple Inc., GetMapping PLC, Micello Inc., TomTom International BV, Digital Globe Inc., HERE Holding Corporation, MiTAC International Corporation, Nearmap Ltd., ARC Aerial Imaging Limited
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