Electronic Cartography Market worth $20 Billion by 2020
According to the report "Electronic Cartography Market by Application (Marine - Commercial and Defense, Aviation - Marine - Commercial and Defense), Components (Systems, Charts), Marine Electronic Navigation Systems (ECDIS, ECS), Aviation Electronic Navigation Systems (Very Large Aircrafts, Wide Body Aircrafts, Narrow Body Aircrafts), Marine Electronic Charts Licensing Mode (PAYS, Direct), Geography (APAC, Europe, North America, South America, Middle East and Africa) Forecast and Analysis, 2014-2020", published by MarketsandMarkets, the electronic cartography market is expected to reach $20.3 billion, growing with a CAGR of 1.46% from 2014 to 2020.
The last few years have witnessed a well paced revolution in the electronic cartographic market. The transition from paper navigation charts to electronic navigation charts is moving at a steady rate. The safety of life at sea and reduction in the risk of marine accidents are the major concerns which drive the electronic cartography marine market. Tremendous efforts have been directed towards the improvement of these drivers.
The IMO (International Maritime Organization), IHO (International Hydrographic Organization) and the regional hydrographic associations play a major role in electronic marine cartography. Similarly, the ICAO (International Civil Aviation Organization) and the Federal Aviation Administration are the key players for electronic aviation cartography. These organizations and various commercial players are conducting special training programs to impart knowledge about the benefits of electronic navigation. The use of electronic navigation charts has increased the accuracy and efficiency of navigation.
The Electronic Cartography Market is witnessing huge investments in developments and demonstrations of electronic cartographic in the marine and aviation industry. All these developments have created a demand for better and more stable technology. The Electronic Chart Display and Information Systems (ECDIS) are electronic chart display systems which will foresee an increase in demand due to the IMO regulations for safe navigation. The electronic aeronautical navigational charts will witness an increase in demand owing to the trend towards paperless cockpits and instant access to navigational databases.