Emergen Research’s new report, titled ‘Global HD Maps for Autonomous Vehicles Market,’ is methodically curated by our team of analysts with readers’ comprehension in mind, and includes a comprehensive database of industry distribution. The report examines historical and current market scenarios in order to forecast the global HD Maps for Autonomous Vehicles Market outlook over the forecast period (2021-2028). Researchers took a comprehensive approach to global market analysis, highlighting the factors that influence the market’s overall growth. The research employs effective analytical tools such as SWOT analysis and Porter’s Five Forces to examine the strengths, weaknesses, opportunities, and threats associated with the growth of various market segments.
According to the most recent report by Emergen Research, the worldwide HD maps for autonomous vehicles market is anticipated to reach a market value of USD 16.51 billion at a consistent CAGR of 34.3% in 2028. The consistent increase in revenue can be ascribed to the growing need for innovative, highly precise, and realistic digital map software and solutions. The demand for and adoption of HD maps among autonomous vehicle manufacturers is being fueled by their capacity to pinpoint a vehicle’s precise location in real-time using analysed data from a variety of sources, including vehicle sensors, LiDAR, onboard cameras, satellite imaging, and GPS.
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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
- 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 2&3)
- Autonomous (Level 4&5)
- Solution Outlook (Revenue, USD Billion; 2021–2028)
- Services Outlook (Revenue, USD Billion; 2021–2028)
- 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 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.
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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