This research study used extensive secondary sources, directories, and databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource to identify and collect information for the technical, market-oriented, and commercial study of the digital map market. The primary sources are mainly several industry experts from core and related industries and suppliers, manufacturers, distributors, service providers, technology developers, technologists from companies, and organizations related to all segments of this industry's value chain. In-depth interviews were conducted with various primary respondents, including key industry participants, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future prospects. The following figure shows the research methodology applied in making this report on the digital map market.
The market has been predicted by analyzing the driving factors, such as the emergence of IoT, cloud computing, the growing need for cost-effective businesses, business agility, and faster time to market.
Secondary Research
The market for the companies offering digital map solutions and services was arrived at based on the secondary data available through paid and unpaid sources, as well as by analyzing the product portfolios of the major companies in the ecosystem and rating them according to their performance and quality. In the secondary research process, various sources were referred to to identify and collect information for this study. The secondary sources included annual reports, press releases, investor presentations of companies, white papers, journals, certified publications, and articles from recognized authors, directories, and databases.
We used secondary research to obtain critical information about the industry's supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from both market and technology-oriented perspectives, all of which were further validated by primary sources.
Primary Research
In the primary research process, we interviewed various primary sources from both the supply and demand sides to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, including Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and product development/innovation teams; related executives from digital map vendors, industry associations, and independent consultants; and key opinion leaders.
Primary interviews were conducted to gather insights, such as market statistics, the latest trends disrupting the market, new use cases implemented, data on revenue collected from products and services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped me understand various trends related to technology, offerings, and regions. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Security Officers (CSOs), the installation teams of governments/end users using digital maps, and digital initiatives project teams were interviewed to understand the buyer's perspective on suppliers, products, service providers, and their current use of solutions, which would affect the overall digital map market.
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Market Size Estimation
We used top-down and bottom-up approaches to estimate and forecast the digital map and other dependent submarkets. We deployed a bottom-up procedure to arrive at the overall market size using the revenues and offerings of key companies in the market. With data triangulation methods and validation through primary interviews, this study determined and confirmed the exact value of the overall parent market size. We used the overall market size in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segments.
We used top-down and bottom-up approaches to estimate and validate the digital map market and other dependent subsegments.
The research methodology used to estimate the market size included the following details:
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We identified key players in the market through secondary research, and their revenue contributions in respective regions were determined through primary and secondary research.
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This entire procedure included studying top market players' annual and financial reports and extensive interviews for key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives.
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All percentage splits and breakups were determined using secondary sources and verified through primary sources.
All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets.
Digital Map Market: Top-down and Bottom-up approaches
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Data Triangulation
After arriving at the overall market size, the market was split into several segments and subsegments—using the market size estimation processes as explained above. Where applicable, data triangulation and market breakup procedures were employed to complete the overall market engineering process and determine each market segment's and subsegment's exact statistics. The data was triangulated by studying several factors and trends from the demand and supply sides in the digital map market.
Market Definition
Considering the views of various sources and associations, digital maps, also known as electronic maps or online maps, are graphical representations of geographical areas or spaces stored and viewed electronically on digital devices such as computers, smartphones, tablets, and GPS navigation systems. They visually represent spatial information, including streets, landmarks, topography, transportation networks, points of interest, and more.
Digital maps utilize various data sources and technologies, including satellite imagery, aerial photography, geographic information systems (GIS), and crowdsourced data, to create detailed and interactive representations of the physical world. Key players in the digital maps market include technology companies that develop mapping solutions and services, such as Google Maps, Apple Maps, HERE Technologies, and TomTom. These companies often use a combination of satellite imagery, aerial photography, GIS, and crowdsourced data to create and maintain their digital maps.
Key Stakeholders
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IT service providers
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Support infrastructure equipment providers
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Component providers
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Professional service providers
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Distributors and resellers
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Cloud providers
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Digital map vendors
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Telematics vendors
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Global Positioning System (GPS) vendors
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Cartography players
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Digital map solution providers
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Digital map service providers
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System integrators
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Consultancy and advisory firms
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Regulatory agencies
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Government entities
Report Objectives
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To define, describe, and forecast the digital map market based on offerings, solutions, services, mapping type, scale, purpose, application, vertical, and region
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To provide detailed information about the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
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To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
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To forecast the market size concerning five central regions—North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America
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To analyze the subsegments of the market for individual growth trends, prospects, and contributions to the overall market
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To profile the key players of the market and comprehensively analyze their market size and core competencies
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To track and analyze the competitive developments, such as product enhancements, product launches, acquisitions, partnerships, and collaborations, in the digital map market globally
Available Customizations
With the given market data, MarketsandMarkets offers customizations per the company's specific needs. The following customization options are available for the report:
Product Analysis
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The product matrix provides a detailed comparison of each company's product portfolio.
Geographic Analysis
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Further breakup of the Asia Pacific market into countries contributing 75% to the regional market size
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Further breakup of the North American market into countries contributing 75% to the regional market size
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Further breakup of the Latin American market into countries contributing 75% to the regional market size
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Further breakup of the Middle Eastern & African market into countries contributing 75% to the regional market size
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Further breakup of the European market into countries contributing 75% to the regional market size
Company Information
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Detailed analysis and profiling of additional market players (up to 5)
Growth opportunities and latent adjacency in Digital Map Market