Introduction:
Have you ever wondered how Google Maps makes money, from the user’s point of view it can be confusing because you all have Google Maps satellite view state view and real-time traffic updates for free.
So where is the income? If you know the secret of Google Maps income, your eyes are bound to rise, the business model of Google Maps is much more intense than other services of Google. Here the use of physical resources is high and worldwide image capture and satellite monitoring is a huge task.
For this, large servers and supercomputers are required to process millions of hours of data and combine multiple petabytes of data together.
Google Maps income:
Initially, Google was worried about how much business would be generated from such an expensive app. Even initially, they could not have imagined that the map application would become one of their most profitable businesses.
US financial institution Morgan Stanley says Google Maps will generate more than $11 billion in revenue by 2023, close to TikTok’s revenue.
Separate from the parent company Alphabet, if Google Maps is considered a single business, its business value is 62 billion dollars.
That’s equal to the value of Mercedes Benz and more than Volkswagen and PayPal. Google Maps has entered the list of the 250 largest companies in the world by using the idea of maps.
Google Maps earning source:
So let’s talk about income, google Maps does not show video ads or search ads, how much income can be made by selling users’ travel history data, then how is the business? You will enjoy hearing the answer for sure.
Custom Branding Opportunity:
Google has used some great ideas in this case by giving custom branding opportunities and they are earning from common people.
Usually, the map has more to do with the location of each company or organization, such as entering a website to see a picture of their company or the full address. Each company or organization can do this for free.
But the Money is needed only when this address has to be highlighted and it needs to be shown like an ad with detailed data and images with business features.
You will have seen that the Pins of some companies are very highlighted on Google Maps. If you click on these Pins, you get a nice experience about the company and its services, thus Google Maps is constantly earning a huge amount of money from the companies.
Earn from API:
Another interesting way Google Maps earns revenue is through API or Application Programming Interfaces. If you search for a restaurant, a small map image comes up with the restaurant’s details; we can see it mainly because of the API.
You have to spend money to get this service, it is considered a small range. Companies like Uber, FedEx, Lyft, Foodpanda, Airbnb, and Zillow use large-scale map API services. They are using Google Maps to sustain their business.
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Thus, in every country of the world, there are hundreds of companies whose business is based on Google Maps. And Google Maps has become a billion-dollar company by getting huge money from these companies.
Google Places API:
Google has another interesting source of income. When we enter a shipping address online, many options are filled automatically, this is done through Google’s Places API.
In this case, Google deducts only $0.03 per use, but the number is very small, but think about how many times you use it every year. If done 10 times then Google earns $0.30.
And if 3 billion people use it in one way, then only from this 1 API, Google’s income is 1 billion dollars. Now you must understand to some extent how Google Maps earns more than 11 billion dollars in a year.
Let’s leave the money calculation and think differently. Google has taken the whole world into its hands through the Maps application. Google Maps has the real location of every residential and commercial property in the world.
Conclusion
Google Maps has the live location of at least 100 million people in the world, that too in high-detail maps.
Those who have this information are undoubtedly powerful people. If you calculate the price of so many people’s data, Google Maps doesn’t need to earn anymore. As such, $11 billion a year from Maps can be said to be a huge bonus for Google.
