Hd Maps For Autonomous Vehicles Market Research Report Including SWOT Analysis, Outlook and Key Players Analysis By 2028
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Market Size – USD 1.58 Billion in 2020, Market Growth – at a CAGR of 34.3%, Market Trends – Increasing adoption of high-precision HD mapping
VANCOUVER, BC, CANADA, August 23, 2022 /EINPresswire.com/ -- 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.
The HD Maps for Autonomous Vehicles market report focuses on the economic developments and consumer spending trends across different countries for the forecast period 2020 to 2028. The research further reveals which countries and regions will have a better standing in the years to come. Apart from this, the study talks about the growth rate, market share as well as the recent developments in the HD Maps for Autonomous Vehicles industry worldwide. Besides, the special mention of major market players adds importance to the overall market study.
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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.
The subject matter experts conducting the study offer a deep understanding of how prominent leaders have managed to navigate the potential buyers and competitive dynamics influencing their brand positioning in the industry The HD Maps for Autonomous Vehicles market analysis provides everything a business owner needs in order to succeed.
Major Players/Manufacturers profiled in the report are:
NVIDIA, TomTom, DeepMap, Here Technologies, Navinfo, Civil Maps, Mapmyindia, Sanborn Map Company, Navmii, and Autonavi.
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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2021-2028.
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 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
Vehicle Type Outlook (Revenue, USD Billion; 2021–2028)
• Commercial Vehicles
• Passenger Vehicles
Regional Segmentation;
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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The report offers insightful information about the market dynamics of the HD Maps for Autonomous Vehicles market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the HD Maps for Autonomous Vehicles market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the HD Maps for Autonomous Vehicles market.
Key Benefits of the Report:
• Comprehensive analysis of the competitive scenario and its changing dynamics
• Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
• In-depth 8 year analysis of the Global HD Maps for Autonomous Vehicles Market
• Critical assessment of the key market segments
• Comprehensive analysis of the drivers, restraints, trends, and opportunities
• Detailed regional analysis and extensive company profiling
• Extensive assessment of current and emerging trends of the market
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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HD Maps for Autonomous Vehicles Market Size Worth USD 16.51 Billion by 2028
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