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(I-TravelNewswire.Com, October 18, 2019 ) According to the new market research report "HD Map for Autonomous Vehicles Market by Solution (Cloud-Based & Embedded), Level of Automation, Usage (Passenger & Commercial), Vehicle Type, Services (Advertisement, Mapping, Localization, Update & Maintenance), & Region - Global Forecast to 2030", published by MarketsandMarkets™, HD Map for Autonomous Vehicles Market is estimated to be USD 1.3 billion in 2020 and is projected to reach a market size of USD 20.4 billion by 2030, at a CAGR of 36.2% during the forecast period.
The market is driven by factors such as increasing demand for safe vehicles, progress toward developing semi-autonomous and autonomous vehicles, and growing traffic congestion.
Browse and in-depth TOC on "HD Map for Autonomous Vehicles Market"
125 - Tables
43 - Figures
177 - Pages
The HD map for the autonomous vehicle market is dominated by a few global HD map solution providers and comprises several regional players. Some of the key HD map providers include TomTom (Netherlands), HERE Technologies (Netherlands), Waymo (US), NVIDIA (US) and NavInfo (China).
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“Cloud-Based Service segment is estimated to be the fastest-growing HD Map Autonomous Vehicle Market, by solution”
The low cost of cloud-based service, which is primarily due to the need for lesser storage space is the key factor that drives this segment in the market. Many top companies such as NVIDIA, HERE Technologies, TomTom to name a few offer their HD map product as cloud-based services, this is accompanied by the fact that updating of HD map can be done in less tot.
“Semi-Autonomous vehicle segment is expected to be the fastest-growing HD Map Autonomous Vehicle Market, by automation level”
The level 2&3 semi-autonomous vehicle segment occupies the largest share in the HD map market. This is primarily because the laws concerning semi-autonomous driving are more relaxed when compared to autonomous driving. The specification needed for HD maps for autonomous driving is more complicated when compared to semi-autonomous vehicles which currently help for the growth of semi-autonomous vehicle HD map market. Safety concerns regarding autonomous driving among the public also restrain the market.
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“North America is estimated to be the largest regional HD map for autonomous vehicle market”
North America comprises the US, Canada, and Mexico. The US currently holds the largest share which can be attributed to a large customer base and high disposable income of end-users in the US, which has fueled the demand for high-end safety vehicles, which in turn has resulted in increasing innovations and partnership by international automotive OEMs. Other factors that fueled for its growth are the government initiatives which include autonomous vehicle testing in states such as California, Nevada, and District of Columbia and Arizona, creating new robust regulations for the use and testing of autonomous technology.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
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Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/hd-map-autonomous-vehicle-market.asp
Mr. Shelly Singh
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