Digital Elevation Model Market: Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029
Global Digital Elevation Model Market: Overview
An impressive compound annual growth rate would be charted by the global digital elevation model market, as per TMR Research, owing to increase in applications across various industries such as military and defense, aerospace, planning and construction, and telecommunication. Besides, improving technology and constant up-gradation of DEM maps is also contributing positively to growth in the global digital elevation model market. Note here that India, China, and the United States of America are set to witness a massive increase in construction volumes. World over, an 85% increase would be noted in these volumes by the year 2030. The robust growth rate will also lead to creation of more growth opportunities for players operating in the market.
Global Digital Elevation Model Market: Competitive Landscape
A small number of players have a notable grasp on the market share, making the vendor landscape of global digital elevation model market quite consolidated. It is significant to note here that players are opting for various growth strategies, which are shaping the future of the market.
Companies that are dominant in the global digital elevation model market are TomTom International N.V., Harris MapMart, LAND INFO Worldwide Mapping, LLC, CompassData, Inc., DHI GRAS A/S, Telespazio SPA, Apollo Mapping, CATUAV, VRICON, PASCO Corporation, and NIRAS A/S among others.
Of the many growth strategies that the global digital elevation model players resort to in order to stay ahead of the competitors, the most prominent and common ones include having a keen eye on research and development, investing in advancement of technology, and mergers and acquisitions and strategic partnerships and collaborations, often built on mutual synergies. It is not surprising considering the alliances often lead to better resource allocation, combination of know-hoe, and market penetration. This, in turn leads to consolidation of market position.
Global Digital Elevation Model Market: Key trends and driver
TMR Research notes that a string of factors of growth are underscoring the notable trajectory global digital elevation model market. Of these many trends and drivers that are impacting the market landscape positively over the forecast period, some prominent ones are:
Global Digital Elevation Model Market: Regional Analysis
Asia Pacific (APAC) will emerge as an attractive regional market owing to factors such as rapid urbanization and increasing military expenditure. The region will chart a high compound annual growth rate over the forecast period. India, China and South Korea will pave for notable growth in the market, contributing massively. It is noteworthy here that expansion in construction and planning is a major growth booster in the regional digital elevation model market. Other notable regional markets will be North America, followed by Europe.
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