Digital Cards Market Size Expected to Reach USD 17.18 Billion at a CAGR of 11.9%, by 2028
Digital Cards Market Size – $ 7.03 Billion in 2018, Market Growth – 11.9% CAGR, Market Trends – Growing Use of Smartphones
NEW YORK, NY, UNITED STATES, November 8, 2021 /EINPresswire.com/ – The increasing use of digital cards in the automotive industry is expected to drive the growth of the market.
The Global Digital Cards Market is expected to reach $ 17.18 billion by 2028, according to a new report from Reports and Data. A digital map is an electronic representation of a traditional paper map, with all similar information including points of interest, roads, towns and boundaries, among others. However, unlike conventional maps, digital maps allow users to do a multitude of things on the map, including adding additional information such as a path, lane, or new route, and using the map to calculate distances.
It is believed that the increasing use of digital maps in the automotive industry will drive the growth of the market. Digital maps are widely used to locate and track vehicles using GPS satellites. Self-driving cars have a set of sensors needed to map the surroundings and provide precise location and movement data, which is processed by the car’s mainframe so it can make instant decisions. The better the initial digital mapping data, the less data the car will have to process and interpret.
Advances in digital mapping technology are expected to drive the market growth during the forecast period. Geographic Information Systems (GIS), LIDAR and InSAR, among others, can be used to incorporate and process spatial data for applications ranging from simple mapping to resource exploration; from environmental supervision and management to planning and administration of transport and telecommunications systems, urban development, utility infrastructure and land use. These advanced technologies can be used effectively to manage today’s complex urban problems regarding the optimal use of available resources and the management of infrastructure.
Key participants include AutoNavi Holdings Ltd., Apple Inc., Collins Bartholomew, DigitalGlobe Inc., Environmental Systems Research Institute (ESRI) Inc., Google, Getmapping PLC, MapData Services, HERE Holding Corporation, and Micello Inc., among others.
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Other key findings from the report suggest
â¢ Tracking and telematics solutions are expected to have a significant growth rate during the forecast period and find applications in vehicle tracking, oil and gas fleet management to improve worker safety and manage fleets. construction with GPS tracking for construction equipment, among others.
â¢ LIDAR (Light Detection and Ranging) is a remote sensing technology that uses light as a pulsed laser to map structure including vegetation height, density and other characteristics in an area. These light pulses, combined with other data recorded by the airborne system, generate precise 3D information related to the shape of the Earth and its surface characteristics.
â¢ The outdoor application of digital maps held a larger market share in 2018 and is expected to grow at a rate of 11.2% during the forecast period as it assists in fleet management, environmental studies, surveying and disaster management, among others.
â¢ Retail occupied a substantial market share in 2018 due to the use of digital cards by several retailers to optimize their e-commerce data so that customers can explore products, make informed purchasing decisions and purchase. in line.
â¢ The North America region market contributed the largest market share in 2018 due to the growth of end user industries in the region.
To identify key industry trends, click on the link below: https://www.reportsanddata.com/report-detail/digital-map-market
For the purpose of this report, reports and data have segmented the global digital card market on the basis of component, technology, functionality, application, verticals and region:
Components Outlook (Revenue, USD Million; 2020-2028)
Monitoring and telematics
Risk assessment and disaster management
Route planning and optimization
Technology Outlook (Revenue, USD Million; 2020-2028)
Feature Outlook (Revenue, USD Million; 2020-2028)
Application Outlook (Revenue, USD Million; 2020-2028)
Industry Vertical Outlook (Revenue, USD Million; 2020-2028)
Energy and utilities
Military & Defense
Government and public sector
Regional Outlook (Revenue, USD Million; 2020-2028)
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The market report includes the main points from the table of contents:
â¢ Market overview for digital cards
â¢ Global economic impact on industry
â¢ Competition in the world market by manufacturers
â¢ World production, income (value) by region
â¢ Global supply (production), consumption, export, import by regions
â¢ World production, revenue (value), price trend by type
â¢ Global Market Analysis by Application
â¢ Analysis of manufacturing costs
â¢ Industrial chain, sourcing strategy and downstream buyers
â¢ Analysis of the marketing strategy, distributors / traders
â¢ Analysis of market effect factors
â¢ Digital Card Market Forecast
To conclude, all aspects of the Digital Map Market are quantitatively and qualitatively assessed to study the Global and Regional Market comparatively. This market research presents critical information and factual data about the market, providing an overall statistical study of this market on the basis of market drivers, its limitations, and future prospects.
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