PUBLISHER: The Business Research Company | PRODUCT CODE: 1500075
PUBLISHER: The Business Research Company | PRODUCT CODE: 1500075
High-definition (HD) maps for autonomous vehicles are detailed digital maps containing precise information about road geometry, lane markings, traffic signs, and other relevant features crucial for safe and efficient autonomous navigation. These maps enable autonomous vehicles to accurately perceive and interpret their surroundings, facilitating precise localization, path planning, and decision-making for safe navigation in diverse environments.
The primary components included in high-definition (HD) maps for autonomous vehicles are hardware, software, and services. Hardware encompasses the physical equipment and devices necessary for the functioning of autonomous vehicles, such as sensors, cameras, and processing units. These components are utilized across passenger vehicles and commercial vehicles with varying levels of automation, ranging from semi-autonomous to fully autonomous systems. They serve diverse applications, including mapping and localization functionalities.
The HD map for autonomous vehicle market research report is one of a series of new reports from The Business Research Company that provides HD map for autonomous vehicle market statistics, including HD map for autonomous vehicle industry global market size, regional shares, competitors with an HD map for autonomous vehicle market share, detailed HD map for autonomous vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the HD map for autonomous vehicle industry. This HD map for autonomous vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The HD map for autonomous vehicle market size has grown strongly in recent years. It will grow from $1.40 billion in 2023 to $1.49 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The historical growth can be attributed to an increased demand for autonomous vehicles, a heightened emphasis on safety and accuracy, advancements in mapping and localization algorithms, regulatory support for autonomous driving technology, and an increase in consumer acceptance of self-driving technology.
The HD map for autonomous vehicle market size is expected to see strong growth in the next few years. It will grow to $1.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period can be attributed to the widespread adoption of cloud-based mapping solutions, the development of real-time updating capabilities for High-Definition (HD) maps, an increasing focus on cybersecurity for mapping data, a heightened emphasis on environmental sustainability in mapping processes, and a growing demand for high-definition 3D mapping solutions. Key trends expected in the forecast period include the rise of hybrid HD map solutions that combine satellite, aerial, and ground data, the emergence of standardized formats for HD map data exchange, the development of HD maps tailored for specialized environments such as construction sites and industrial facilities, a focus on energy efficiency and sustainability in map data collection methods, and the evolution of HD maps to support Level 4 and Level 5 autonomous driving capabilities.
The rise in traffic congestion is expected to fuel the growth of high-definition (HD) maps for autonomous vehicles in the future. Traffic congestion describes the situation of overcrowded and slow-moving traffic on roads, resulting from factors such as high vehicle volumes, limited road capacity, and adverse conditions. HD maps for autonomous vehicles contribute to reducing traffic congestion by enabling precise navigation, optimizing routes, minimizing traffic incidents through real-time updates, and coordinating vehicles for smoother traffic flow. For instance, in January 2023, as per the global Traffic Scorecard 2022 report by INRIX, a US-based transportation analytics and connected car service company, the average American driver lost 36 hours due to congestion in 2021, costing $564 in wasted time, while in 2022, this increased to 51 hours and $869 in wasted time. Hence, the growing traffic congestion is propelling the expansion of the HD map for autonomous vehicle market.
Leading companies in the HD map for autonomous vehicle market are intensifying their efforts to develop advanced solutions, such as highly automated mapping technology platforms, to transform how maps are created, updated, and utilized. Highly automated mapping technology involves advanced systems and processes that use artificial intelligence, machine learning, and sensor data to autonomously generate and update detailed maps with minimal human intervention, typically for applications in autonomous vehicles, urban planning, and infrastructure management. For instance, in January 2023, HERE Technologies, a Netherlands-based location data and technology company, introduced UniMap, a highly automated mapping technology facilitating the rapid creation of digital maps and location products. This platform offers advanced mapping capabilities for the HD map for autonomous vehicle market, leveraging artificial intelligence (AI) models to process extensive vehicle sensor data and provide up-to-date map features such as road signs and speed limits. HERE's swift mapping and updating capabilities meet the critical need for precise high-definition (HD) maps, supporting the safe and efficient operation of autonomous vehicles and positioning HERE as a leader in driving the growth of the autonomous vehicle market.
In January 2023, Luminar Technologies Inc., a US-based automotive technology company, acquired Civil Maps, a US-based provider of high-definition mapping and localization platforms. This acquisition significantly strengthens Luminar Technologies Inc.'s presence in the high-definition (HD) map for autonomous vehicles market by integrating advanced mapping technology with LiDAR sensors, enhancing safety and capabilities, and reinforcing Luminar's market leadership in offering comprehensive solutions for autonomous vehicles.
Major companies operating in the high definition (HD) map for autonomous vehicle market are Google LLC (Alphabet Inc.), Aurora Innovation, Intel Corporation, Uber Technologies Inc., NVIDIA Corporation, Baidu Inc., Mobileye, Esri, HERE Technologies, Electrobit, TomTom International BV, Waymo LLC (Alphabet Inc.), Navinfo Co. Ltd, Zenrin Co. Ltd., Intellias, Motional Inc., Argo AI, Mapbox, Cruise LLC, RMSI, MapmyIndia, Mapscape BV, Carmera Inc., DeepMap Inc., Oxbotica, The Sanborn Map Company Inc., Dynamic Map Platform Co. Ltd., Mapper.ai, Mapillary from Meta, Voxelmaps
North America was the largest region in the HD map for autonomous vehicle market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high definition (HD) map for autonomous vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the high definition (HD) map for autonomous vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The HD map for autonomous vehicle market consists of revenues earned by entities by providing services such as obstacle detection and avoidance, HD Localization, map updates and maintenance, and semantic segmentation. The market value includes the value of related goods sold by the service provider or included within the service offering. The HD map for autonomous vehicle market also includes sales of products such as LiDAR sensors, cameras, mobile mapping systems, and data storage and processing units. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
High Definition (HD) Map For Autonomous Vehicle Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on high definition (HD) map for autonomous vehicle market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for high definition (HD) map for autonomous vehicle ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The high definition (HD) map for autonomous vehicle market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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