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.The HD Maps for Autonomous Vehicles Market Research report gives a complete assessment of the market. It does so through in-depth qualitative insights, historic data, and verifiable projections about market size. The projections featured in the report have been derived the use of confirmed studies methodologies and assumptions. By doing so, the research report serves as a repository of analysis and facts for each side of the market.
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.
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Further key findings from the report suggest
- 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.
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Report Objective:
The report offers a complete analysis of the global HD Maps for Autonomous Vehicles market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as MA acquisition, partnerships, joint ventures, license agreement and collaborations. NVIDIA, TomTom, DeepMap, Here Technologies, Navinfo, Civil Maps, Mapmyindia, Sanborn Map Company, Navmii, and Autonavi. and others are some of the top companies profiled in the report.
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
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Emergen Research has segmented the global HD maps for autonomous vehicles market on the basis of level of automation, solution, services, vehicle type, and region:
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
Vehicle Type Outlook (Revenue, USD Billion; 2021–2028)
- Commercial Vehicles
- Passenger Vehicles
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
The report addresses the following key points:
- The report provides a forecast of market drivers, restraints, and future opportunities for the HD Maps for Autonomous Vehicles market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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