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BUSINESS

Grab launches GrabMaps to tap into US$1 bln market opportunity in Southeast Asia

08/06/2022 07:10 PM

KUALA LUMPUR, June 8 (Bernama) -- Southeast Asia’s leading super-app Grab Holdings Ltd has launched a new enterprise service, GrabMaps, that is able to tap into the US$1 billion (US$1=RM4.39) per year market opportunity in Southeast Asia for mapping and location-based services. 

Co-founder Tan Hooi Ling said commercialising the technology is a significant step forward for the company’s fledgling but rapidly expanding enterprise and new initiatives division.

“This new technology provides location-based intelligence and services to all Grab verticals in seven out of the eight countries it operates in and Grab expects to be fully self-sufficient with GrabMaps by the third quarter of 2022.

“GrabMaps today powers more than 800 billion API (application programming interface) calls per month across a variety of Grab services,” she said at the virtual GrabMaps Media Launch today.

She said GrabMaps, as a business-to-business solution, would offer a few services like base data map, map-making tools and software-as-a-service and APIs and mobile software development kits (SDKs).

“GrabMaps’ main benefit is founded on community-based mapping principles that take advantage of Grab’s customers, retailers and fleet of drivers and delivery partners.

“GrabMaps has a competitive advantage in terms of accuracy, coverage and freshness while remaining extremely cost-effective,” she said.

She added that Grab had collected 33 million points of interest (POIs) and other rich data like street imagery, street names and traffic signs and would add 5 million more by end of 2022.

-- BERNAMA


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