The North American digital map market held the highest share of more than 30% in 2022 and is projected to grow at a healthy CAGR during 2023-2028. The market is primarily driven by the increasing adoption of digital maps in the automotive, mobile devices, and logistics sectors.
In the automotive sector, digital maps are used for navigation, traffic information, and parking assistance. The growing popularity of connected cars and autonomous vehicles is expected to boost the demand for digital maps in this sector.
In the mobile devices sector, digital maps are used for navigation, location-based services, and gaming. The increasing use of smartphones and tablets is expected to drive the demand for digital maps in this sector.
In the logistics sector, digital maps are used for route planning, fleet management, and asset tracking. The growing demand for efficient and timely delivery of goods and services is expected to boost the demand for digital maps in this sector.
In addition to the above, other factors driving the growth of the North American digital map market include:
- The increasing investment in research and development by major players in the market.
- The growing adoption of cloud-based solutions.
- The increasing demand for real-time and accurate maps.
The North American digital map market is segmented by technology, application, and end-user. By technology, the market is segmented into InSAR, LiDAR, and 3D mapping. InSAR is expected to be the fastest-growing segment during the forecast period. This is due to the increasing use of InSAR technology for mapping disaster-prone areas and for monitoring infrastructure.
By application, the market is segmented into automotive, mobile devices, logistics, and others. The automotive segment is expected to be the largest market during the forecast period. This is due to the increasing adoption of digital maps in connected cars and autonomous vehicles.
By end-user, the market is segmented into government, private enterprises, and individuals. The government segment is expected to be the fastest-growing segment during the forecast period. This is due to the increasing use of digital maps for disaster management, urban planning, and transportation planning.
The major players in the North American digital map market include Google, HERE Technologies, Mapbox, TomTom, and Esri. These players are investing in research and development to develop innovative digital map solutions. They are also expanding their geographical presence to capture a larger share of the market.
Overall, the North American digital map market is expected to grow at a healthy CAGR during the forecast period. The growth of the market is driven by the increasing adoption of digital maps in various sectors.