Mapping the Autonomous Future: HD Map Market to Surge from $3.7B in 2025 to $66.1B by 2035
HD Map for Autonomous Vehicles Market Growth
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The concept of HD map for autonomous vehicles is typically attributed to the maps that are particularly built for self-driving purposes of autonomous vehicles and are usually called as High-Definition Maps (HD Maps). HD maps have information presented in layers. The data in each layer varies depending on the company that produces the map. It is expected that HD maps will also provide advertising services, which will be the key revenue-generating segment for HD maps companies. Moreover, the next generation of autonomous driving technology requires higher quality and more detailed map content to support sensor data and guarantee driver safety and comfort. To achieve this, autonomous vehicles are expected to rely on a combination of artificial intelligence, sensors, and digital maps. It allows them to see around curves, through fog, and over large vehicles blocking the vision of sensors. For instance, in October 2019, NavInfo Co., Ltd. further developed its map production and distribution technologies by launching FastMap 3.0, the 3rd generation platform for map production and distribution system. It used modern technologies, such as big data mining and artificial intelligence technology to allow for accurate map production.
The key players analyzed in the global HD map for autonomous vehicles market report include AutoNavi, Baidu, Inc., Civil maps, DeepMap, Inc., Dynamic Map Platform Co., Ltd., Esri, HERE, Mapbox, Momenta, NavInfo Co., Ltd., Navmii, NVIDIA Corporation, The Sanborn Map Company, Inc., TomTom International BV, Waymo LLC, Woven Planet Holdings, Inc., and Zenrin Co., Ltd.
In addition, the HD map for autonomous vehicles market has witnessed significant growth in recent years, owing to the demand for accurate navigation and adoption of autonomous vehicles for car renting services. Furthermore, companies operating in the market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, in June 2021, Waymo LLC partnered with Google Inc., a leading software development company to launch the Waymo One service, which allowed allow users to book fully autonomous ride-hailing services through the Google Maps app. The service was first offered in the East Valley of Phoenix, Arizona, U.S.
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Based on service type, the mapping segment to hold the dominating global HD map for autonomous vehicles market in 2025, garnering more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The advertisement segment, on the other hand, is expected to cite the fastest CAGR of 38.0% during the forecast period.
Based on vehicle type, the passenger cars segment to hold the largest market share in 2025, garnering more than four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The commercial vehicles segment, on the other hand, is expected to cite the fastest CAGR of 36.3% during the forecast period.
Based on usage type, the personal modality segment to hold the dominating market share in 2025, holding nearly three-fourths of the global HD map for autonomous vehicles market , and is expected to maintain its leadership status during the forecast period. The commercial modality segment, on the other hand, is expected to cite the fastest CAGR of 34.4% during the forecast period.
Based on region, the market across North America to hold the dominating market share in 2025, garnering more than one-third of the global market. On the other hand, the Europe region is expected to maintain its leadership status during the forecast period. However, the Asia-Pacific region is expected to cite the fastest CAGR of 35.9% during the forecast period.
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Factors such as rise in adoption of autonomous vehicles, growing importance of HD map for safe autonomous driving, and advancement in 5G technology supplement the growth of the HD map for autonomous vehicles market. However, high cost associated with technology and limited standardization in HD maps are the factors expected to hamper the growth of the market. In addition, growth in connected infrastructure and improved road regulations and rise in investments in mapping technology create market opportunities for the key players operating in the market.
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