HD Maps for Autonomous Vehicles Market to Witness Robust Growth by 2028

Global HD Maps for Autonomous Vehicles Market, Emergen Research's most recent market research report, includes an estimated market size and share, current industry trends, global market growth rates, main market competitors, key drivers and opportunities, challenges, and product segmentation. Cost structure, market size, the level of competition, a product's features and portfolio, and business profiles

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 latest analysis by Emergen Research. This steady revenue growth can be attributed to increasing requirement for 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 of and preference for HD maps among autonomous vehicle manufacturers.

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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

The leading market contenders listed in the report are:

NVIDIA, Tomtom, DeepMap, Here Technologies, Navinfo, Civil Maps, Mapmyindia, Sanborn Map Company, Navmii and Autonavi

Target Audience of the Global HD Maps for Autonomous Vehicles Market Report:

Key Market Players

Investors

Venture capitalists

Small- and medium-sized and large enterprises

Third-party knowledge providers

Value-Added Resellers (VARs)

Global market producers, distributors, traders, and suppliers

Research organizations, consulting companies, and various alliances interested in this sector

Government bodies, independent regulatory authorities, and policymakers

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Major Geographies Analyzed in the Report:

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)

Market Segmentations of the HD Maps for Autonomous Vehicles Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2021 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global HD Maps for Autonomous Vehicles market on the basis of product, application, and region:

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

Mapping

Update Maintenance

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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.

Additional information offered by the report:

Along with a complete overview of the global HD Maps for Autonomous Vehicles market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.

The report elaborates on the global HD Maps for Autonomous Vehicles market size and share governed by the major geographies.

It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.

It further presents a detailed description of the company profiles of the key market contenders.

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