Grand View Research has released a report on Digital Map Market that discusses CAGR, Revenue, future forecast and growth at global level. The major increase in the digital map market is considered to be the sharp rise in self driving cars, android mapping devices and smartphones along with other technological advancements.
Among the rest, Digital orthophotography is one of the fastest growing segments due to rapid growth in data analysis technology and image-processing vertical. Management service segment in digital mapping market is expected to see a sharp growth till 2025.
North American market has the biggest share in digital market segment and is expected to grow more till 2026 while Asia pacific region is expected to have the biggest growth percentage in the coming years.
Digital cartography applications such as smart parking, congestion intelligence, logistics management along with traffic and routing intelligence are going to drive growth in the segment.
Digital mapping market by type includes GIS, LiDAR, Digital Orthophotography, Aerial Photography and other and you can read the whole research report here.
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One of the major factors to drive growth in the future is the increase in demand for on-premises and off-premises security by both general public and security agencies.
Same of the major key players in the market are Raytheon Company, FLIR systems, DRS Technologies, BAE systems along with many small players.
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