Global HD Maps for Autonomous Vehicles Market Forecast to 2028
The study on the global market for HD Maps for Autonomous Vehicles examines historical as well as current data and does a thorough analysis of market dynamics. The important market growth-boosting and limiting factors that are projected to affect market growth throughout the forecast period are also covered in the report. The Global HD Maps for Autonomous Vehicles Market carries out market scenario research in order to forecast industry growth for the years 2021 to 2028. The study focuses on prospective growth prospects and constraints that the industry's market leaders might face during the forecast period.
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 traction for and preference for HD maps among autonomous vehicle manufacturers.
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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 Companies Profiled 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?
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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 2&3) 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.
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 2&3)
- Autonomous (Level 4&5)
- Solution Outlook (Revenue, USD Billion; 2021–2028)
- Embedded
- Cloud-based
- Services Outlook (Revenue, USD Billion; 2021–2028)
- Localization
- Advertisement
- Mapping
- Update & Maintenance
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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)
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global HD Maps for Autonomous Vehicles market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for HD Maps for Autonomous Vehicles with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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