Navteq hits the road to log data
Competition is fierce for detailed digital maps
Now drivers hooked on digital maps are looking for more than just streets and turns. They want ever more accurate and up-to-date points of interest such as restaurants, gas stations, hotels, theme parks and more.
For digital mapmakers like Navteq Corp., it's up to road teams like Ann McNeil and Rich Joyce to deliver.
Like luxury-class explorers, the geographic analysts cruise streets and roads in a tech-laden SUV outfitted with a satellite tracking computer, electronic clipboard and rooftop cameras.
"Our customers are wanting more and more information," said McNeil, who has driven hundreds of thousands of miles in a decade at Navteq. "We're expanding all the time."
It's all part of a race with Dutch rival Tele Atlas NV to not only chart the world more accurately but also combine the maps with other relevant data.
A pioneer of the digital map business, Navteq produces the maps and software found in automobile navigation systems, portable navigation devices made by Garmin Ltd. and other companies, and Internet map sites like AOL's Mapquest, Google Inc.'s Google Maps and Yahoo Inc.'s Yahoo Maps.
Thanks to global positioning systems and recent technology advancements, Navteq is fine-tuning ways to let consumers use a phone or other handheld device to track their dogs, find where to jog in another city, learn how many calories they will burn doing it, learn where the nearest 24-hour gas stations are and see current traffic and weather conditions. Tele Atlas has its own projects under way.
"There's a lot of competition going on," said Thilo Koslowski, an analyst for Gartner Inc. "Both companies are trying to show that their data is better, by being innovative in gathering more detailed information."
The mapping duel heated up with the recent announcement that Tele Atlas agreed to a $2.6 billion acquisition by TomTom NV, the world's largest maker of personal navigation devices.
While that should make the combined European company a more formidable foe, Navteq's stock also soared. Analysts said TomTom's competitors such as Garmin may now go to the Chicago-based company for their maps rather than buy from a rival.
Navteq would like to improve its current share, which already includes most of the Internet mapping market and a split of the handheld device market with Tele Atlas. Its European rival drives the roads, too — the two companies' teams even sometimes spotting one another covering the same turf.
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