Watch Out, Alphabet - Meta, Microsoft, Amazon Join Forces to Create Open Maps Data Alternative to Google and Apple

Meta Platforms Inc META, Microsoft Corp MSFT, Amazon.Com Inc AMZN Amazon Web Services, and TomTom collaborated to form the Overture Maps Foundation to create an alternative to Alphabet Inc GOOG GOOGL Google Maps and Apple Inc AAPL Apple Maps.

Google and Apple currently dominate the market for online maps and charge mobile app developers for access to their mapping services.

Meta and Microsoft collected and donated the data to Overture, CNBC cites Marc Prioleau, executive director of the OMF.

Also Read: US DOJ Rekindled Antitrust Investigation In Google Maps: Report

The Overture Maps Foundation collected 59 million points of interest, such as restaurants, landmarks, streets, and regional borders. It made the data available for free as a base layer for a new map application.

The Overture looks to establish a baseline for map data so that companies can build and operate their maps.

Overture offers the underlying map data, allowing companies to build their software on top of it, providing more flexibility than using Google's or Apple's maps as a service.

Digital maps are crucial for mobile apps and emerging technologies like augmented reality and self-driving cars, and Overture's data allows companies to integrate their proprietary information for customized offerings.

Despite its rocky start in 2012, Apple Maps has made significant efforts in its user experience, winning over some users from Google Maps.

Despite most U.S. iPhone users having Google Maps installed, Apple Maps' deep integration with iOS and improved user experience drove the higher usage.

Price Action: META shares traded higher by 2.18% at $300.90 premarket on the last check Wednesday.

Photo by henry perks via Unsplash

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.