The global electronic cartography market revenue is expected to expand at a significant CAGR over the forecast period. Electronic cartography is an electronic mapping technique that provides a virtual image by collecting the data of geographical location. Electronic cartography uses satellites for aerial view and virtual maps for mapping purpose. It provides insights to the end-user about certain terrain conditions by using coordinates, current geographical position and intersection points in accurate range.
Increasing demand for electronic mapping technology, and rising safety concerns in aviation and marine sector are some factors anticipated to drive the growth of the global electronic cartography market. However, the dearth of skilled personnel to read and understand the mapping may hamper the demand of the electronic cartography and restrain the market over the forecast period.
The global electronic cartography market report has been segmented on the basis of components, application, and region. On the basis of components, the market is segmented into navigation system and navigation charts. the navigation system is further segmented into Electronic Display and Information System (ECDIS), Raster Chart Display System (RCDS), and Electronic Chart System (ECS). Electronic display and information system provides the information for nautical navigation conditioned by the International Maritime Organization (IMO). On the basis of application, the market is segmented into defense sector and commercial sector.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, the North America and Europe dominate the global market in terms of revenue, due to increasing adoption of electronic cartography by various end-users in these regions. The Asia Pacific market is expected to witness a significant growth in terms of revenue, owing to increasing defense spending and development of the aviation sector in the region. The Middle East and Africa market have expected to witness a lucrative growth, owing to rising security concerns and growing marine trade in the region.
Key players operating in the global electronic cartography market include Honeywell International Inc., Rockwell Collins, Inc., Furuno Electric Co., Ltd., Jeppesen GmbH, Raytheon Anschütz GmbH, Thales USA, Inc., Northrop Grumman Sperry Marine B.V., Navionics Inc., Transas Marine International AB, IIC Technologies Inc., and Garmin Ltd.