Digital Map Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“Commercial Vehicles Market Size Worth $2.27 Trillion By 2025�
The global digital map market size is estimated to reach USD 8.76 billion by 2025, growing at a CAGR of 11.5%, according to a new study by Grand View Research, Inc. The market is expected to witness substantial demand from navigational application developers and Geographical Information System (GIS) providers, who in turn are driven by a growing end-user base. The prolific rise in the number of smartphone and internet users has further augmented market growth at the global level.
Digital cartography has been gaining increasing attention in recent years owing to a rapid growth in demand for geospatial information. The growth in the number of connected and semi-autonomous cars, anticipated developments in self-driving and navigation technology, and an increase in the overall number of cars in developing countries are expected to drive the growth for digital maps across the globe.
Applications such as smart parking, location, traffic and congestion intelligence, and logistics management need routing and congestion updates in real time. As digital cartography has been developing at a rapid rate, it can support these applications with data feeds and information. In addition, the increasing number of businesses that are using location-based services for marketing and advertising is also estimated to enhance the demand growth in coming years.
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