Global HD Maps for Autonomous Vehicles Market Forecast to 2028
The global HD maps for autonomous vehicles market is expected to reach a market size of USD 16.51 billion at a steady CAGR of 34.3% in 2028, according to the latest analysis by Emergen Research. This steady revenue growth can be attributed to the increasing requirement for a new generation of highly accurate and realistic digital map solutions and software. The ability of HD maps to determine the exact position of a vehicle in real-time with the help of analyzed data from multiple sources such as vehicle sensors, LiDAR, onboard cameras, satellite imagery, and GPS is driving demand for and deployment of HD maps among autonomous vehicle manufacturers. HD mapping technology allows a driverless vehicle to localize itself with high precision by mapping its exact location with respect to the surrounding environment. The technology enables autonomous vehicles to overcome sensing limitations by providing information beyond the range of the camera, LiDAR, and radar, which is driving the traction of and preference for HD maps among autonomous vehicle manufacturers.
The market for HD Maps for Autonomous Vehicles is thoroughly examined in the Global HD Maps for Autonomous Vehicles Market Research Report and Forecast to 2028, which also includes market size and share, current and future trends, and the most recent technological developments. The research provides a complete forecast through 2028 as well as insight into the regional and global competitive landscape of the HD Maps for Autonomous Vehicles market. The new study offers up-to-date details on the COVID-19 pandemic's effects on the market for HD Maps for Autonomous Vehicles. It examines how the outbreak changed the political climate and judicial system in each location. Along with providing a present and future, it also examines the economic instability and supply chain disruptions brought on by the disease.
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Competitive Terrain:
The global HD Maps for Autonomous Vehicles industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
NVIDIA, Tomtom, DeepMap, Here Technologies, Navinfo, Civil Maps, Mapmyindia, Sanborn Map Company, Navmii and Autonavi
Research Report on the HD Maps for Autonomous Vehicles Market Addresses the Following Key Questions:
Who are the dominant players of the HD Maps for Autonomous Vehicles market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the HD Maps for Autonomous Vehicles market?
What are the key growth drivers and restraining factors of the HD Maps for Autonomous Vehicles market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the HD Maps for Autonomous Vehicles market and its key segments?
Market Overview:
The report bifurcates the HD Maps for Autonomous Vehicles market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Level of automation Outlook (Revenue, USD Billion; 2021–2028)
Semi-Autonomous (Level 23)
Autonomous (Level 45)
Solution Outlook (Revenue, USD Billion; 2021–2028)
Embedded
Cloud-based
Services Outlook (Revenue, USD Billion; 2021–2028)
Localization
Advertisement
Mapping
Update Maintenance
Regional Landscape section of the HD Maps for Autonomous Vehicles report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Highlights of Report
In November 2019, TomTom, which is a location technology specialists, and the University of Amsterdam (UvA) announced the opening of a new research Atlas Lab for autonomous vehicles. Atlas Lab is expected to focus on utilizing Artificial Intelligence for developing advanced, highly accurate, and safe high-definition maps for self-driving vehicles.
Semi-Autonomous (Level 23) segment accounted for largest market share of 62.5% in 2020. Presence of more stringent regulations regarding autonomous driving compared to semi-autonomous driving are boosting demand for semi-autonomous vehicles.
Cloud-based solutions segment revenue is expected to expand at a rapid CAGR of 34.8% during the forecast period. Major players in the market such as TomTom, NVIDIA, and HERE Technologies are increasingly utilizing cloud-based services as these offer more accuracy and easy updating of maps.
Localization segment accounted for a significantly high revenue share in the HD maps for autonomous vehicles market in 2020. Safety and comfort of the driver is increased with the help of HD map software as it enables localization beyond GPS accuracy.
Passenger vehicles segment accounted for a significantly high revenue share in the HD maps for autonomous vehicles market in 2020. High car sales and consumer demand for advanced technologies are contributing to increasing demand for autonomous passenger vehicles and boosting usage of HD maps in such vehicles to improve driver safety and comfort.
North America accounted for largest revenue share contribution to the global HD maps for autonomous vehicles market in 2020. Rising focus on achieving safer, cleaner, and less congested roads is boosting preference for autonomous vehicles.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the HD Maps for Autonomous Vehicles market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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