Burgeoning Adoption of Autonomous Vehicle, Favorable Government Policies with Increased IT & Infrastructure Development Propelled the Growth of the HD Maps for Autonomous Vehicle Market in the APAC Region!

• Vikas Kumar
• July 8, 2023
• AUTOMOTIVE, NEWS
• 0 Comments

The Asia Pacific region would exhibit the highest CAGR during 2022-2030 owing to the rapid growth rate in the automotive industry in the last couple of years. As the region covers the country such as China, and India which have almost 36% of the total world population with increasing disposable income, the paradigm shifts of population growth in the cities in the region looking for daily commuting purposes leads to increase adoption of the autonomous vehicle, further caters the demand for HD maps for an autonomous vehicle. For instance, in April 2023, according to the report published by United Nations, India overtook China as the world’s most populous country. Moreover, countries such as China and India have strong government support for the development and deployment of autonomous vehicles. The government’s support consists of research and development and various testing phase, setting regulations, and providing standards. This has created a favorable environment for the adoption of the autonomous vehicle market, further creating the demand for HD maps for autonomous vehicles. For instance, in August 2021, China revamped its regulations on driverless car testing, allowing qualified firms to conduct trials of autonomous vehicles used for transporting passengers and goods on highways and city roads, in an attempt to accelerate the commercialization of self-driving technology. Countries such as China, India, and South Korea have become technologically advanced and are home to big tech giants that are constantly developing advanced technology to improve the experience of autonomous cars and HD maps. For instance, in June 2020, NavInfo, a Chinese-based hd maps company, and the National Geographic Information System signed a strategic cooperation framework agreement in Beijing to coordinate their in-depth work on geographic information promoting the scope of HD maps in the region. Overall, the combination of the rapidly growing automotive sector, strong government support, and the early adoption of new technologies has created an attractive picture for the growth of HD maps for the autonomous vehicle market in the Asia-Pacific region in the coming years.

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Further, the APAC HD Maps for Autonomous Vehicle Market is expected to grow at a strong CAGR of approximately 32% during the forecast period (2022-2028). APAC is anticipated to emerge as the fastest-growing HD maps for the autonomous vehicles market primarily owing to the increased adoption of autonomous vehicles in the country such as China, South Korea, and Japan. Furthermore, the rapid development and deployment of 5G technology in these countries have gained the traction of connected and autonomous vehicles in this region further catered the demand for HD maps for autonomous vehicles. Additionally, the major automotive manufacturers are taking advantage as the country in the region such as China, and India has gone through a major automotive industrial revolution, that supported by various government policies has further propelled the demand for hd maps for the autonomous vehicle market.

• FIG. 1 APAC HD Maps for Autonomous Vehicle Market Revenue (2020-2028)- USD Mn 
  
  

For a detailed analysis of the Global HD Maps for the Autonomous Vehicle Market browse through :- https://univdatos.com/report/hd-maps-for-autonomous-vehicle-market/

Based on the solution, the market is categorized into cloud-based, and embedded. Among these, the cloud-based segment to hold a significant share of the market in 2022. This is mainly due to the cloud-based having an interactive user interface with more loaded features compared with embedded maps which are more static in nature. The main objective of this map is to provide routing information from points A to B and add contextual graphic information to aid user interpretation of the guidance services.

Based on the level of autonomy, the hd maps for the autonomous vehicle market have been classified into semi-autonomous (L2, L3), and fully autonomous (L4, L5). The semi-autonomous is currently leading the market as the fully-autonomous vehicle is still in the developing and testing phases, thus the semi-autonomous have a wide customer base. As the fully autonomous segment is still in the testing phase, more people believe that semi-autonomous vehicles are safer and more reliable and improve the driving experience with the intervention of humans. HD maps play an important role in ensuring the safety and reliability of a semi-autonomous driving system that provides precise and accurate positioning and orientation.

Global HD Maps for Autonomous Vehicle Market Segmentation

Market Insights, by Service Type

• Mapping
• Localization
• Update and Maintenance
• Advertisement

Market Insights, by Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

Market Insights, by Solution

• Cloud Based
• Embedded

Market Insights, by Usage Type

• Personal Mobility
• Commercial Mobility

Market Insights, by Level of Autonomy

• Semi-Autonomous
  • Level 2
  • Level 3
• Fully Autonomous
  • Level 4
  • Level 5

Market Insight, by Region

• North America
  •  U.S.
  •  Canada
  • Mexico
  •  Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • India
  • South Korea
  • Rest of APAC
• Rest of the World

Top Company Profiles

• TomTom International BV
• HERE
• NVIDIA Corporation
• Dynamic Map Platform Co., Ltd.
• The Sanborn Map Company, Inc.
• Mapbox
• Waymo LLC
• Civil Maps
• Woven BY Toyota, Inc.
• Navinfo