HD Maps Market – Global Industry Analysis and Forecast (2023-2029) by Type, Application and Region

HD Maps Market was valued at US$ 1.44 Bn. in 2022. Global HD Maps Market size is estimated to grow at a CAGR of 15.06 %.
HD Maps Market Overview and Dynamics:
HD maps offer localization data, which can help in determining the vehicle’s specific location on a map. Visual SLAM (Simultaneous Localization and Mapping) has gained significant accuracy in defining the position and location of a device with respect to its localization while concurrently mapping the environment nearby that device thanks to recent advancements in artificial intelligence (AI) and computer vision.

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HD maps are expected to deliver advertising services, which will be the main source of revenue for HD maps vendors. Moreover, the market is driven by the key factors like growing demand for autonomous vehicles, Rapid developments and growth in the 5G Technology and Huge investments by the start-ups for the growth of HD Maps.

For example, Mapbox, mapping & location clouding platform for the inventers, has accrued US$ 227.2 Mn. war fund because of a US$ 164 Mn. Series C investment from SoftBank’s US$ 93 Bn. Vision Fund in 2017. Mapbox has established itself a spot in the location and mapping services market as a competitor to Google Maps and major European competitors like TomTom and HERE Technologies. Mapbox's geographical mapping technology is used by firms such as Mastercard, Snapchat, AirBnB, Pinterest, and Tinder. Lack of uniformity in HD Mapping, on the other hand, may stymie market growth between 2021 and 2027.
HD Map Market's Growth Factors:
• High awareness of HD maps' various features, such as traffic situations, weather forecasts, and road condition indications, is expected to drive the market's expansion significantly throughout the forecast period.

• During the projected period, advancements in 5G technology are expected to present chances for leading industry participants in the HD map for autonomous vehicles market.

• The market is expected to be driven by rising knowledge of advanced technology that provides accurate navigation and increases reliance on the Internet.

• During the forecast period, the global HD maps for autonomous vehicles market is expected to be driven by increased use of autonomous driving and rising investment in startups for producing HD maps.
HD Maps Market Segment Insight:
HD Maps Market Segment Analysis: Global HD Maps Market is segmented into Solution, Level of Automation, Application, and End-users.

Based on the solution, the cloud based segment is expected to grow at the largest CAGR of nearly 16.84% during the forecast period. The cost-effectiveness of cloud-based services in comparison to embedded systems is helping the cloud-based category expand in revenue.

By Level of Automation, the Semi – Autonomous Level 2 & 3 segment is projected to grow at the highest CAGR of 15.89% to reach US$ xx Bn. by 2029. The HD map market for Semi-Autonomous Level 2 & 3 vehicles is predicted to be the largest, with the market for Semi-Autonomous Level 2 & 3 vehicles growing at the fastest rate over the forecast period. Because of the need for features like Cooperative Adaptive Cruise Control, Highway Autopilot, Auto Lane Change, and Hands-free Auto Parking, the semi-autonomous car segment dominates. Other concerns include strict legislation governing autonomous driving and, during the projection period, a higher number of semi-autonomous vehicles on the road than autonomous vehicles.
HD Maps Market Regional Insights:
North America is anticipated to account for the largest nearly 38% share of the HD Maps market in 2020. This growth is attributed to rising sales of electric vehicles in the US drives the market growth as electric battery pack is measured as a stable power source for effective working of higher-powered autonomous vehicles components. The market for electric vehicles in the United States grew from 2017 to 2019, according to the International Energy Agency. Furthermore, government laws in the United States governing the development of autonomous vehicles as well as geospatial data may boost demand for HD Map for Autonomous Vehicles.
Industry Developments:
The research study includes the profiles of leading companies operating in the global HD Maps market.

• In January 2021, The HERE location platform will provide HD mapping technologies to Deutsche Bahn. The technology will be used by Germany's railway operator for its new "Sensors4Rail" digital rail project. The goal of this pilot project is to put sensor-based train localisation and environment recognition to the test in order to boost railway system capacity, efficiency, and reliability. Bosch, Ibeo, and Siemens Mobility are among the other project partners.

• In January 2020, At the 54th International Consumer Electronics Show (CES 2020), Momenta and Texas Instruments unveiled the latest front camera perception product, which is based on TI's latest Jacinto TDA4VM SoC (System on Chip), and can help automakers meet safety requirements for new cars, such as Euro NCAP 2022/2024. To fulfil the ever-increasing consumer needs for driving comfort and safety, Momenta is creating a new generation of ADAS solutions based on TI Jacinto TDA4VM SoCs. Momenta's industry-leading front camera perception and high-precision localization algorithms, paired with TI's Jacinto TDA4 processor for ADAS applications and wide-angle high-resolution cameras, enable accurate object detection across long distances and in complicated settings.

• In May 2021, HERE and INCREMENT P declared the collaboration for the growth of the access to high- quality location content and data sets available.

The objective of the report is to present a comprehensive analysis of the global HD Maps Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the HD Maps Market dynamic, structure by analyzing the market segments and projecting the HD Maps Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the HD Maps Market make the report investor’s guide.
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HD Maps Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.44 Bn.


Forecast Period 2023 to 2029 CAGR:
15.06%
Market Size in 2029:
US $ 3.85 Bn.


 Segments Covered:
by Solution
• Cloud Based
• Embedded


by Level of Automation
• Semi – Autonomous Level 2 & 3
• Autonomous – Level 4 & 5


by Application
• Hardware
• Software
• Service


by End-User
• Automotive
• Military & aerospace
• Internet service providers
• Other



HD Maps Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
HD Maps Market Key Players
• Here Technologies Inc. (The Netherlands)
• TomTom NV (The Netherlands)
• Google (US)
• Alibaba (China)
• NavInfo (China)
• The Sanborn Map Company (US)
• Mapmyindia (India)
• Deepmap, Inc. (US)
• Momenta (US)
• Navmii (UK)
• Mapbox (US)
• Civil Maps (US)
• RMSI (India)
• Genesys International Corporation Ltd (India)
• Cyient Inc. (India)

Frequently Asked Questions:

1] What segments are covered in the HD Maps Market report?
Ans. The segments covered in the HD Maps Market report are based on Solution, Level of Automation, Application, and End-users.

2] Which region is expected to hold the highest share in the HD Maps Market?
Ans. North America region is expected to hold the highest share in the HD Maps Market.

3] What is the market size of the HD Maps Market by 2029?
Ans. The market size of the HD Maps Market by 2029 is US$ 3.85 Bn.

4] What is the forecast period for the HD Maps Market?
Ans. The forecast period for the HD Maps Market is 2023-2029.

5] What was the market size of the HD Maps Market in 2022?
Ans. The market size of the HD Maps Market in 2022 was US$ 1.44 Bn.