The hd map for autonomous vehicles global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
HD Map For Autonomous Vehicles Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of HD Map For Autonomous Vehicles Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
HD Map For Autonomous Vehicles Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the HD maps for autonomous vehicles market are developing innovative solutions such as HD Live Map, to enhance real-time updating capabilities and support autonomous driving functions effectively. HD Live Map is a highly detailed, real-time mapping service tailored for autonomous vehicles, offering precise information on lane markings, road geometry, traffic signs, and more for safe navigation. For instance, in September 2021, Mercedes-Benz Group AG, a Germany-based automotive manufacturer, launched HD Live Map, an integral part of its new DRIVE PILOT, in collaboration with HERE Technologies, a Netherlands-based software company. The HD Live Map provides detailed data about the road network to allow the DRIVE PILOT system to maneuver safely without driver intervention. It includes 3 models, namely the Road Model, the HD Lane Model, and the Localization Model. These provide centimeter-level accuracy on road geometry, lane details, traffic signs, barriers, and other roadside features crucial for autonomous vehicles. This detailed data enhances navigation by enabling advanced driving functionalities such as autonomous lane-keeping and real-time route adjustments based on current road conditions.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
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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