Vancouver, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The global HD maps for autonomous vehicles market is projected to reach a market size of USD 53.71 Billion at a steady CAGR of 34.3% in 2032, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to increasing need for safer, cleaner, and less congested roads in countries across the globe. Relaxation of stringent laws and regulations for autonomous vehicles to encourage adoption and ease traffic congestion is a key factor driving demand. Continuous development and adoption of more advanced technologies such as Artificial Intelligence and 5G in the automotive field is further supporting developments in autonomous vehicles. HD maps provide an extra layer of support to sensor redundancy in instances where lane markings may be unclear, and road signs are affected by outside influences, and these advantages are contributing significantly to growing demand for HD maps and solutions among autonomous vehicle manufacturers.
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The cost incurred in creating HD maps is expected to hamper deployment in autonomous vehicles in the initial phase of the during the forecast period. Privacy and legal issues regarding HD maps are also likely to restrain growth of the HD maps for autonomous vehicles market to some extent.
Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 1.58 Billion |
| CAGR (2023–2032) | 34.3% |
| Revenue forecast in 2032 | USD 53.71 Billion |
| Base year for estimation | 2020 |
| Historical data | 2017–2019 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Level of automation, solution, services, vehicle type, and region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Saudi Arabia, South Africa, Turkey |
| Key companies profiled | NVIDIA, Tomtom, DeepMap, Here Technologies, Navinfo, Civil Maps, Mapmyindia, Sanborn Map Company, Navmii and Autonavi |
| Customization scope | 10 hours of free customization and expert consultation |
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MAJOR COMPANIES and Landscape Analysis
The global HD maps for autonomous vehicles market is moderately fragmented, with a large number of small- and medium-sized manufacturers accounting for a major revenue share. Companies are well-equipped with manufacturing facilities and engage in various research and development activities and initiatives to develop and deploy new and more efficient technologies in the HD maps for autonomous vehicles market. Some prominent players operating in the HD maps for autonomous vehicles market are:
- NVIDIA
- Tomtom
- DeepMap
- Here Technologies
- Navinfo
- Civil Maps
- Mapmyindia
- Sanborn Map Company
- Navmii
- Autonavi
Strategic development
In September 2020, TomTom announced the launch of new tech for autonomous vehicles to manage roads and weather better. The new product named RoadCheck directly addresses customer and partner pain points to create safer autonomous driving experiences in inclement weather conditions and areas with poor signals like tunnels. RoadCheck is expected to use HD map data of TomTom to define the Operational Design Domain (ODD) of a vehicle’s automated driving functions.
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Key Highlights of Report
- In January 2019, location technology specialist, TomTom, announced its collaboration with DENSO on its software platform for autonomous vehicles. The high definition map solution of TomTom is expected to work in combination with DENSO in-vehicle sensors such as radar and cameras to power the perception, localization, and path planning functions for a complete autonomous driving system.
- Semi-Autonomous (Level 2&3) segment accounted for largest market share of 62.5% in 2020. Rising need to decrease traffic congestion is contributing to growing demand for semi-autonomous vehicles and the usage of HD maps in these vehicles to improve driver safety and comfort.
- Cloud-based solutions segment revenue is expected to expand at a rapid CAGR of 34.8% during the forecast period. The cost-effectiveness of cloud-based services in comparison to embedded systems is contributing to revenue growth of the cloud-based segment.
- Localization segment accounted for a significantly high revenue share in the HD maps for autonomous vehicles market in 2020. New age high-definition maps deliver high precision optical localization, which is driving deployment in autonomous vehicles.
- Passenger vehicles segment accounted for a significantly high revenue share in the HD maps for autonomous vehicles market in 2020. The presence of more stringent regulations regarding autonomous commercial vehicles in comparison to passenger vehicles are driving higher demand for autonomous passenger vehicles and the usage of HD maps in them.
- Asia Pacific is expected to register significant growth during the forecast period. Presence of companies such as Baidu, Xiaoma Zhixing, Auto X, and Didi Chuxing is contributing to the high growth of the market in the region.
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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; 2019–2032)
- Semi-Autonomous (Level 2&3)
- Autonomous (Level 4&5)
- Solution Outlook (Revenue, USD Billion; 2019–2032)
- Embedded
- Cloud-based
- Services Outlook (Revenue, USD Billion; 2019–2032)
- Localization
- Advertisement
- Mapping
- Update & Maintenance
- Vehicle Type Outlook (Revenue, USD Billion; 2019–2032)
- Commercial Vehicles
- Passenger Vehicles
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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