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, BRITISH COLUMBIA, CANADA, June 19, 2023/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 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.

The HD Maps (High-Definition Maps) market for autonomous vehicles has been experiencing significant growth in recent years. HD maps play a crucial role in enabling safe and efficient navigation for self-driving cars and other autonomous vehicles. These maps provide detailed and accurate information about the surrounding environment, including road geometry, lane markings, traffic signs, and other relevant data.

The demand for HD maps has been driven by the increasing adoption of autonomous vehicles across various industries, including transportation, logistics, and ride-sharing. The growth of this market is also fueled by advancements in sensor technologies, such as LiDAR (Light Detection and Ranging) and high-resolution cameras, which are used to collect data for creating and updating HD maps.

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Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global HD Maps for Autonomous Vehicles market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global HD Maps for Autonomous Vehicles market and pinpoint the fundamental growth trends.

The leading market contenders listed in the report are:

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

Global HD Maps for Autonomous Vehicles Market Highlights:

Regional demand estimation and forecast

Product Mix Matrix

R&D Analysis

Cost-Benefit Analysis

Pre-commodity pricing volatility

Supply chain optimization analysis

Technological updates analysis

Raw Material Sourcing Strategy

Competitive Analysis

Mergers & Acquisitions

Location Quotients Analysis

Carbon Footprint Analysis

Patent Analysis

Vendor Management

Key Parameters Analyzed in This Section:

Company Profiles

Gross Revenue

Profit margins

Product sales trends

Product pricing

Industry Analysis

Sales & distribution channels

Regional Segmentation:

North America

Latin America

Europe

Middle East & Africa

Asia Pacific

Key Points Covered in This Section:

Regional contribution

Estimated revenue generation

Vital data and information about the consumption rate in all the leading regional segments

An expected rise in market share

Forecast growth in the overall consumption rate

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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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Key reasons to buy the Global HD Maps for Autonomous Vehicles Market report:

The latest report comprehensively studies the global HD Maps for Autonomous Vehicles market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

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