HD Map for autonomous vehicles market to reach $66,053.0 Mn in 2035
PORTLAND, OREGON, UNITED STATES, May 24, 2023 /
EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “
HD Map for Autonomous Vehicles Market," The hd map for autonomous vehicles market was valued at $3.7 billion in 2025, and is estimated to reach $66.1 billion by 2035, growing at a CAGR of 33.4% from 2025 to 2035.
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.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞-
https://www.alliedmarketresearch.com/request-sample/12543
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.
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.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭!
https://www.alliedmarketresearch.com/hd-map-for-autonomous-vehicles-market/purchase-options
COVID-19 Impact Analysis:
The COVID-19 outbreak severely impacted the automotive sector on a global level, which in turn leads to considerable drop in automotive sales, insufficiency of raw material, and others. The HD map for autonomous vehicles is an evolving sector with constant R&D which was disrupted due to lockdown and witnessed a downfall due to COVID-19 pandemic. The companies operating in HD map designing have been impacted from production to R&D due to the pandemic. For instance, Google affiliated Sidewalk Lab’s proposed 12-acre smart project in Canada related to AV has been canceled due to economic uncertainty caused by the pandemic. Moreover, COVID-19 also affected a few HD maps operating players, including Momenta, Zenrin, and others as they are majorly dependent on OEMs activities. However, after the first lockdown, production & sales quicky recovered. In addition, countries' governments have supported autonomous vehicle technologies has helped improve the current situation due to COVID-19. For instance, the Korean government, including ICT Board for regulatory sandboxes, has allowed the test operation of Goalies (autonomous patrol car) to proceed and introduced a new system under Autonomous Vehicle Act, i.e., AV Pilot Zone scheme. Furthermore, autonomous vehicle technologies are expected to have prominent growth, creating a competitive advantage among key players in the industry.
𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠-
https://www.alliedmarketresearch.com/purchase-enquiry/12543
KEY FINDINGS OF THE STUDY
By service type, the advertisement segment dominated the global HD map for autonomous vehicles market in terms of growth rate in the year 2035.
By vehicle type, the commercial vehicles segment dominated the global HD map for autonomous vehicles market in terms of growth rate in the year 2035.
By usage type, the commercial mobility segment dominated the global HD map for autonomous vehicles market in terms of growth rate in the year 2035.
By solution, the embedded segment dominated the global HD map for autonomous vehicles market in terms of growth rate in the year 2035.
By level of automation, the level 5 segment dominated the global HD map for autonomous vehicles market in terms of growth rate in the year 2035.
The leading players operating in the HD map for autonomous vehicles market are 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.
David Correa
Allied Analytics LLP
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