- The industrial segment is anticipated to grow with the highest CAGR.
- The telecommunication industry is predicted to be extremely attractive in the medium term.
- North America and APEJ are poised to lead the revenue generation in the digital elevation model market.
In a new report titled ‘Digital Elevation Model Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)’, Future Market Insights has taken an in-depth look at the digital elevation model market. The digital elevation model market could potentially record an exponential CAGR of 14.4% from 2017 to 2027, making it a truly lucrative prospective for both incumbents as well as new entrants in the digital elevation model market.
The industrial segment is anticipated to grow with the highest CAGR and is projected to have a value of just under $760 million by end 2027. Along with the industrial segment, companies would do well to focus on the commercial segment in the digital elevation model market.
The telecommunication industry is predicted to be extremely attractive in the medium term on account of an extremely high CAGR of 16.4% for the decade analysed. Topographic data is vital for macro cell planning, micro cell planning, and clutter data in telecommunications. Usually, a database of 100m grid elevation data is deployed for macro cell planning while 5-10m elevation is used in micro cell planning.
The North America digital elevation model market is poised to increase 3X for the period 2017 to 2027 while APEJ is on track to grow 4.3X during the same timeframe. Incremental dollar opportunity of almost $440 million is waiting to be tapped in the North America digital elevation model market. The US dominates North America and it wouldn’t be surprising if companies decided to overlook Canada entirely in favor of its southern neighbor.
North America and APEJ are poised to lead the revenue generation in the digital elevation model market for the foreseeable future. Companies are likely to focus on M&A and aggressive product launches to sustain their competitive position in the digital elevation model market. Along with this, companies are advised to enter into strategic alliances with governmental organizations to form standard solutions for improving efficiency and reducing costs as there is no such standard present across the globe today. An appropriate method and plan should be set up with governments to effectively deploy digital elevation models. With standardization in place, digital elevation models would assist in the analysis of fixed quantities and strengthen disaster management and environmental change detection.
Future Market Insights has studied a few of the companies in the digital elevation model market. Some of these are TomTom International B.V., CATUAV, Harris MapMart, LAND INFO Worldwide Mapping, DHI GRAS A/S, CompassData, Telespazio Spa, Apollo Mapping, VRICON, PASCO Corporation, and NIRAS A/S.