Increasing need to improve driver safety and comfort and deconjest road traffic are some key factors driving global HD maps for autonomous vehicles market growth.
Vancouver, BC -- (SBWIRE) -- 04/22/2021 -- 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 latest report entails a comprehensive analysis of this particular business vertical while providing precise information related to the different industry segmentations. The report captures the essence of the market, offering details on its different valuations, present scenario, volume consumption, revenue share over the projected period. In addition, the report largely focuses on delivering information regarding the geographical outlook of the global HD Maps for Autonomous Vehicles market, as well as the companies and organizations dominating the market.
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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.
Key players in the market include NVIDIA, TomTom, DeepMap, Here Technologies, Navinfo, Civil Maps, Mapmyindia, Sanborn Map Company, Navmii, and Autonavi.
HD Maps for Autonomous Vehicles Market Segmentation:
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
The research study also offers insights into various regulatory frameworks and evaluates the growth of the industry in each key region of the world. The report also provides an assessment of the micro and macro-economic factors influencing the growth of the market in the mentioned regions. The global HD Maps for Autonomous Vehicles market is segmented into the following based on the key regions of the world:
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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Key Factors influencing market remuneration:
The global HD Maps for Autonomous Vehicles market report includes a detailed study of the product spectrum of the market and further describes the different product types, including One-sided, Two-sided, and Others.
The report zeroes in on the overall market dynamics and presents information with regard to the producers and distributors, manufacturing cost structure, and downstream buyers.
Details pertaining to the expected growth rate, industry share, revenue accumulated, and product segmentation are depicted in this report.
The application landscape of the global HD Maps for Autonomous Vehicles market can be categorized into For Human, For Animals, and Others.
The study further examines the industry share and product demand of each application, coupled withthe predicted growth patterns of the various application segments.
Other vital factors, such as market concentration ratio and raw material processing rate, have also been covered under the latest study.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. HD maps for autonomous vehicles Market Segmentation & Impact Analysis
4.1. HD maps for autonomous vehicles Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing need to improve driver safety and comfort
4.2.2.2. Rising need for accurate localization
4.2.2.3. Increasing demand for autonomous driving
4.2.3. Market restraints analysis
4.2.3.1. Cost incurred in creating the HD Maps
4.2.3.2. Privacy & legal issues regarding HD Maps
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. HD maps for autonomous vehicles Market By level of Automation Insights & Trends, Revenue (USD Billion)
5.1. Level of Automation Dynamics & Market Share, 2020 & 2028
5.1.1. Semi-Autonomous (Level 2&3)
5.1.2. Autonomous (Level 4&5)
CONTINUED..!!
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