Digital Map Market is projected to reach, growing at a CAGR of 16 % from 2020 to 2027
Mobility-as-a-Service, Logistic,
eCommerce, Digital Map Use Cases Grow
The global digital map market is garnering significant
traction, witnessing the increasing use of digital maps in many sectors. Also,
the growing adoption of mobile computing devices, 3D platforms, and advanced
technologies for navigation, surveying, and digital map-making impacts the
market growth positively. Businesses and individuals globally leverage mapping
solutions' capabilities and appreciate them.
The digital map market size was
valued at USD 4,679 Million, and is projected to reach, growing at a CAGR of 16
% from 2020 to 2027.
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Maps have been used as a navigation
and orientation tool for ages. With the advances in technology, where most of
the functions became digitized, our good old paper maps too formed a digital
look. Within no time, maps became an app easily available and accessible on
phones. Technological advances lead to more innovation enhancing capabilities
and uses of digital maps.
Mapping needs are universal, and
nearly all industries, from governments and public sectors to telecom, retail,
and manufacturing, need maps to obtain location intelligence. Environment
monitoring sectors use 3D mapping on their smart connected devices for
navigation and surveying. Citing the growing use, digital map technology
providers design their mapping solutions with multi-functional capabilities.
Technology-driven Industries
Leverage Seemingly Endless Capabilities of Digital Mapping
Over recent years, digital maps
have evolved greatly, leveraging the advantage of cutting-edge technologies
like 3D mapping and augmented reality capabilities. Also, their benefits are immense
when location intelligence is important. Among a host of the benefits that a
digital map can offer, the first and foremost one is that digital maps are
interactive and offer more information than paper maps with accuracy.
Digital maps are available for
free in an easily downloadable format. Since they are stored digitally, they
don't need physical storage. They present information in a clear & precise
manner, therefore, eliminating the need for map reading skills. Features are
shown as real-life objects in 2D or 3D format with different levels of detail.
Digital maps are accessed online using the internet and
Digital mapping offers a
collection of data compiled and formatted into a virtual image and can be used
to gain an accurate view of a particular area to find the fastest route to a
range of points of interest and calculate distances from one location to
another. Digital mapping leads to a seemingly endless trail of new iterations
and opportunities for businesses wanting to leverage them.
Paper Maps Becoming Obsolete As
Digital Maps Applications Increase
GPS tracking technology uses
digital maps for navigation. Digital maps have enabled the ubiquity of GPS
systems widely used for tracking traffic, pin landmarks, and showing rout &
distances from one location to another.
Pollution and wildfires have a
critical impact on the global environment, further affecting the climate,
biodiversity, agriculture, sustainability, and various other factors. Forests
are the lungs of the planet and are being burnt down. And if the status quo
continues, it will affect the world even more. Resultantly, the governments and
private sectors have taken up many research projects.
Real-time digital mapping is used
in sectors ranging from the utility, road/highway building, or infrastructure
development to taxi services for a number of activities like tracking,
inspections, monitoring, and path finding of a location. Scientists,
professors, and students sift through satellite data using digital mapping
techniques to measure land and environment changes.
Environment Monitoring Demands
Digital Mapping
The remote sensing technology is
garnering significant prominence among environment monitoring professionals who
need to create digital maps and analyze the database provided by them.
Environment/ forest monitoring scientists accumulate an enormous collection of
digital maps and analyze their records to track how much forest has been lost
or gained and other changes in land cover, water resources, and
agriculture.
However, it is challenging to
take real-time satellite images and convert them to real-time maps showing true
ground changes. Also, some changes appearing on digital maps do not necessarily
reflect real changes on the ground. In such scenarios, researchers need to develop
interpretable analytical methods to maximize understanding. Therefore,
researchers interpret satellite data considering suspected errors in the
maps.
In this way, it becomes easy to
get remotely sensed data and complete an inappropriate classification to
convert the satellite imagery into a map with land cover categories. Increasing
investments are made into expansive research to create and analyze the maps.
Researchers can use the environment mapping database to determine initiatives
that need to be taken to address issues such as deforestation and the evolution
of wetlands.
Dynamic Logistics Needs Digital
Mapping
The global logistic industry is
undergoing tremendous transformations witnessing automation from warehousing to
transportation. Besides, giant industry players like Walmart and Amazon,
alongside leading logistic and ecommerce companies, have been increasingly
incorporating futuristic technologies such as AI and IoT in their systems. As a
result, this leads to drastically changing logistic needs, making it further
complex.
With the help of digital maps,
processes like warehousing, lifting & arranging, material handling, and
others can become fully automated. Though a fully automated warehouse is still
a distant dream, comprehensive mapping solutions can optimize these spaces and
the AI capabilities necessary for navigation, saving time and money for the
business. As logistics get more complex, the importance of mapping solutions is
likely to increase more.
Digital Road Map Crucial for
Cloud-Based Gaming to Locate Ecosystem and Partners
Digital maps play a causal role
in cloud gaming in aligning ecosystems, road mapping, and locating partners.
Today, leading gaming laptops, CPUs, DPUs, and GPUs, come with built-in
roadmaps for rally execution and align end products. Other OEMs will soon hit
the market, releasing their new models based on newly designed devices. Rising
technology possibilities have led to rising expectations that have given rise
to truly virtual experiences.
More VR integrations are bringing
more immersive experiences, and virtual experiences tend to build more on
essential maps. However, gamers are not just looking for virtual experiences
but also VR experiences they can share with others. Most users are familiar
with VR now and looking to integrate it into increasing use cases, which would
bring significant opportunities for digital mapping.
The same is true for travel
videos or destination marketing. Geodata that supports VR footage makes
experiencing a remote space for pleasure and work possible. With experiences
becoming more virtual, the need for these essential mapping techniques will
grow alongside them.
Industry Players' Strategies to
Follow
The digital map market is
becoming increasingly competitive, with increasing numbers of entrants. In
addition to strategies such as mergers & acquisitions, collaborations,
expansion, and product/technology launches, digital map companies invest
heavily to boost the development of digital maps that can be used in more and more
cases. Witnessing the increasing trend of digitalization and virtualization
across the industries, digital map providers strive to expand their footprints
to growing numbers of users.
Notable Industry Updates
Jun 08, 2022, Grab Holdings Inc.,
a technology company in Southeast Asia, announced its plans to enter the
digital maps business to offer access to its mapping and location technology
GrabMaps to other businesses. The technology offers hyperlocal routes that use
back alleys and narrow side streets common in Southeast Asian cities. The
GrabMaps system can handle over 800 billion monthly requests across all its
services.
The third-party mapping services
that users rely upon do not have these small alleyways (lorongs) and right
pick-up or drop-off points in the big malls in South-East Asia. Therefore, Grab
decided to leverage this opportunity to build and invest, offering the quality
of service that our consumers and partners deserved. Grab aims to capture the
growth of US$1 billion for mapping services in Southeast Asia.
The GrabMaps technology was
initially developed for Grab's ride-hailing and delivery platform to allocate
drivers or delivery enablers to customers, calculate estimated trip times, and
plan & optimize routes. And this solution is currently used for the same
purpose in seven countries, including Singapore, Malaysia, Cambodia, Myanmar,
Thailand, the Philippines, and Vietnam.
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