Overview and Scope
High-definition maps for autonomous vehicles are detailed digital maps that provide precise information about road geometry, lane markings, traffic signs, and other relevant features, essential for safe and efficient autonomous navigation. These are utilized by autonomous vehicles to accurately perceive and interpret their surroundings, enabling precise localization, path planning, and decision-making for safe navigation in diverse environments.
Sizing and Forecast
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 growth in the historic period can be attributed to increased demand for autonomous vehicles, increased emphasis on safety and accuracy, improvements in mapping and localization algorithms, regulatory support for autonomous driving technology, and rise 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 growth in the forecast period can be attributed to the adoption of cloud-based mapping solutions, development of real-time updating capabilities for HD maps, increasing focus on cybersecurity for mapping data, focus on environmental sustainability in mapping processes, and demand for high-definition 3D mapping. Major trends in the forecast period include rise of hybrid HD map solutions combining satellite, aerial, and ground data, emergence of standardized formats for HD map data exchange, development of HD maps for specialized environments like construction sites and industrial facilities, focus on energy efficiency and sustainability in map data collection methods, evolution of HD maps to support Level 4 and Level 5 autonomous driving capabilities.
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Segmentation & Regional Insights
The high definition (HD) map for autonomous vehicle market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
3) By Level Of Automation: Semi-Autonomous, Fully Autonomous
4) By Application: Mapping, Localization
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.
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Major Driver Impacting Market Growth
The increasing traffic congestion is expected to drive the growth of the high-definition (HD) map for autonomous vehicle going forward. Traffic congestion refers to the condition of overcrowding and slow-moving or stagnant traffic flow on roadways, resulting from a combination of factors such as high vehicle volumes, limited road capacity, and adverse conditions. High-definition (HD) maps for autonomous vehicles help decrease increasing traffic congestion by enabling precise navigation, optimizing routes, minimizing traffic incidents through real-time updates, and facilitating the coordination of vehicles for smoother traffic flow. For instance, in January 2023, according to the global Traffic Scorecard 2022 report published by INRIX, a US-based transportation analytics and connected car service company, the average American driver lost 36 hours due to congestion in 2021, resulting in $564 wasted in time, while in 2022, this figure increased to 51 hours, costing $869 in wasted time. Therefore, the increasing traffic congestion is driving the growth of the HD map for autonomous vehicle market.
Key Industry Players
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
The high definition (hd) map for autonomous vehicle market report table of contents includes:
1. Executive Summary
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