Digital Map Market Is Likely to Experience a Strong Growth During 2023-2028

Digital Map Marketby Type (GIS, LiDAR, Digital Orthophotography, Aerial Photography, Others), Service (Consulting, Development, Management), Application (Real-time Location Data Management, Geocoding & Geopositioning, Routing & Navigation, Asset Tracking, Others), and Region – (North America, Asia Pacific, Europe & Rest of the World).

Market Insights

The digital map market is estimated to grow from USD 20.07 billion in 2023 and is likely to grow at a CAGR of 15.9% during 2023-2028 to reach USD 41.97 billion by 2028.

What is a digital map?

A digital map is a computerized representation of geographical information, often created using geographic information systems (GIS) software. It typically includes various data layers such as roads, buildings, bodies of water, terrain, and points of interest. Digital maps can be accessed and manipulated using various electronic devices such as smartphones, computers, and GPS devices.

They are commonly used for navigation, urban planning, resource management, and scientific research. Digital maps are constantly evolving and being updated with new data and information, making them a valuable tool for many industries and individuals.

Regional Insights

North American digital map market held the highest share of more than 30% in 2022 and is projected to grow at a healthy CAGR in the coming years. This is ascribed to many sectors such as automotive and mobile devices are using digital technology for end-to-end map solutions such as location information, real-time updates, technology collaboration, and analytics for better geo mapping outputs, which bolsters the regional market growth during the review period.

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