Overview and Scope
HD (High-Definition) maps are highly detailed and precise maps specifically designed to aid autonomous vehicles in navigation and decision-making processes. Unlike standard digital maps used in traditional GPS systems, HD maps provide extensive detail and accuracy, crucial for the safe and efficient operation of self-driving cars. HD maps enable autonomous vehicles to navigate with extreme precision by accurately representing road geometry, lane markings, and surrounding environments.
Sizing and Forecast
The HD map for autonomous vehicles market size has grown exponentially in recent years. It will grow from $1.83 billion in 2023 to $2.33 billion in 2024 at a compound annual growth rate (CAGR) of 27.1%. The growth in the historic period can be attributed to growing interest in and adoption of autonomous vehicles, increasing consumer demand for safer driving experiences, increased use of IoT, and improvements in telecommunication infrastructure.
The HD map for autonomous vehicles market size is expected to see exponential growth in the next few years. It will grow to $6.1 billion in 2028 at a compound annual growth rate (CAGR) of 27.2%. The growth in the forecast period can be attributed to increasing demand for ADAS, increasing demand for autonomous driving technology, the growing importance of HD maps for safe autonomous driving, and increasing demand for self-driving cars. Major trends in the forecast period include rapid developments in AI, advances in real-time data processing technologies, the integration of edge computing, and advances in high-resolution mapping technologies.
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Segmentation & Regional Insights
The HD map for autonomous vehicles market covered in this report is segmented –
1) By Service Type: Mapping, Localization, Updates And Maintenance, Advertisement
2) By Solution: Cloud-Based, Embedded
3) By Usage Type: Personal Mobility, Commercial Mobility
4) By Vehicle Type: Passenger Cars, Commercial Vehicles
North America was the largest region in the HD map for autonomous vehicles market in 2023. The regions covered in the HD map for autonomous vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for advanced driver assistance systems (ADAS) is expected to propel the growth of the HD Map for Autonomous Vehicles market going forward. Advanced driver assistance systems are electronic systems in vehicles that use advanced technologies to assist the driver in driving, enhancing safety and driving ease. The demand for ADAS is increasing due to stricter safety regulations and growing consumer preference for improved vehicle safety and convenience. HD maps for autonomous vehicles provide highly detailed and accurate information about the road environment, enhancing ADAS’s performance by enabling precise navigation, better object detection, and improved decision-making for safer and more efficient driving. For instance, in April 2023, according to a report published by the Highway Loss Data Institute (HLDI), a US-based nonprofit scientific and educational organization, it predicts that by 2027, three ADAS systems will be installed in 50% or more registered vehicles. Additionally, the report forecasts that by 2027, approximately 73% of registered vehicles will be equipped with rear cameras, 63% with rear parking sensors, and 51% with front collision prevention systems. Therefore, the increasing demand for Advanced Driver Assistance Systems (ADAS) drives growth in the HD map for autonomous vehicles market.
Key Industry Players
Major companies operating in the HD map for autonomous vehicles market are Google LLC, Toyota Motor Corporation, Mercedes-Benz Group AG, Nissan Motor Co. Ltd., Aisin Corporation, NVIDIA Corporation, Baidu Inc., Aptiv PLC, NavInfo Co. Ltd., Mobileye, HERE Global B.V., Cyient Limited, TomTom N.V., Zenrin Co. Ltd., The Sanborn Map Company Inc., Carmera Inc., Voler Systems Inc., Waymo LLC, ZENRIN EUROPE GmbH, Nexar, Intellias, iMOVE Australia
The hd map for autonomous vehicles market report table of contents includes:
1. Executive Summary
2. HD Map For Autonomous Vehicles Market Characteristics
3. HD Map For Autonomous Vehicles Market Trends And Strategies
4. HD Map For Autonomous Vehicles Market – Macro Economic Scenario
5. Global HD Map For Autonomous Vehicles Market Size and Growth
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32. Global HD Map For Autonomous Vehicles Market Competitive Benchmarking
33. Global HD Map For Autonomous Vehicles Market Competitive Dashboard
34. Key Mergers And Acquisitions In The HD Map For Autonomous Vehicles Market
35. HD Map For Autonomous Vehicles Market Future Outlook and Potential Analysis
36. Appendix
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