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‘Global digital map market to grow at 13.9% by 2016’

US: Global digital map market is expected to grow at a CAGR of 13.93% over the period 2012-2016, analysts at TechNavio have forecasted. One of the key factors contributing to this market growth is the increased adoption of digital maps in the automobile industry. The global digital map market has also been witnessing an increasing development of 3D maps. However, the requirement of large resources for surveying and developing digital map database could pose a challenge to the growth of this market.

The key vendors dominating this market space include Autonavi Holdings Ltd., NavInfo Co. Ltd., Navteq Corp., and TomTom NV.

Source: SB Wire