Digital Map Market

New Product Developments, to Achieve Growth in the Global Digital Map Market.

The digital map market is gaining traction, due to an increasing use of 3D platforms, advanced technologies, intelligent PDAs in portable and smart devices, geospatial information, and digital maps across verticals. MarketsandMarkets forecasts the global digital map market size to grow from USD 9.26 Billion in 2018 to USD 20.36 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.

There are several established players in the digital map market, including Esri (US), Google (US), TomTom (Netherlands), Mapbox (US), DigitalGlobe (US), Digital Map Products (US), HERE (Netherlands), MapmyIndia (India), Microsoft (US), NavInfo (China), Nearmap (Australia), Magellan (US), Apple (US), MapQuest (US), AutoNavi (China), Yahoo (US), INRIX (US), Mapmechanics (UK), ZENRIN (Japan), MapSherpa (Canada), OpenStreetMap (UK), Living Map (UK), Automotive Navigation Data (Netherlands), MapMan (UK), and Digital Mapping Solutions (Australia). These leading players have adopted various strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to achieve growth in the global digital map market.

In March 2018, TomTom introduced a new GPS device for heavy vehicles in North America. The company launched TomTom Trucker, a GPS navigation device, specifically developed to help truckers get to their destination more efficiently.

In March 2018, HERE acquired Micello, a US-based software company that operates a platform for creating, editing, and publishing indoor maps. The acquisition enhanced HERE’s strategy of providing world-class mapping and advanced location services, both indoors and outdoors.

In February 2018, MapmyIndia launched a free GPS navigation application with route planning and real-time traffic updates, for Android and iPhone.

In February 2018, HERE collaborated with NAVER LABS, a subsidiary of Korea’s leading internet company NAVER Corporation. The collaboration aims to combine NAVER LABS’ Scalable and Semantic Indoor Mapping (SSIM) technology, autonomous robots, and AI-based image recognition capabilities with the HERE Open Location Platform to create, maintain, and publish 3D maps of indoor environments, such as airports and train stations.

In December 2017, HERE launched HERE Tracking, a cloud PaaS for low-energy, high-accuracy, and real-time tracking of goods, devices, and people, both indoors and outdoors. HERE Tracking helps users maintain accurate and trusted real-time and historical records of items.

In November 2017, Mapbox acquired MapData Services, an AI mapping startup focusing on building neural networks to improve the computer vision for applications, such as Augmented Reality (AR). This acquisition would help Mapbox expand into AR maps.

Related Reports:

Digital Map Market by Component (Solution (Tracking and Telematics, Catchment Analysis, Risk Assessment and Disaster Management, Route Optimization and Planning, Geo-Analytics and Visualization) and Service), Vertical, and Region - Global Forecast to 2023

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Report Code
TC 6238
RI Published ON
5/3/2018
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