HD Maps for Autonomous Vehicle Market: Current Analysis and Forecast (2022-2030)

Report Description

The HD maps for autonomous vehicle market was valued at 1.2 billion in year 2022 and expected to grow at a strong CAGR of around 32% during the forecast period (2023–2030) owing to the burgeoning adoption of autonomous vehicles globally. An autonomous vehicle, or a driverless vehicle is able to operate itself and perform all the necessary functions without any human intervention, through its ability to sense its surroundings. The demand for autonomous vehicles has grown rapidly in the last few years owing to the development in radar and technology and various types of sensors, and microprocessors that lead to take decisions based on self-improving algorithms. Moreover, the normal vehicle has a very high chance of meeting with accidents due to human poor decision management which cause the majority of deaths in a road accident, which is completely eliminated in an autonomous vehicle. For instance, in 2021, according to the National Highway Traffic Safety Administration, distracted driving is dangerous and claims 3,522 lives in road accidents. Furthermore, autonomous vehicle has lots of advantages over normal vehicles such as improved safety, ADAS, better traffic management, and emissions further catered the demand for conventional vehicles. Therefore, the growing adoption of autonomous vehicles propels the demand for HD maps for an autonomous market in the coming years.

Some of the major players operating in the market include TomTom International BV; HERE; Nvidia Corporation; Dynamic Map Platform Co., Ltd.; The Sanborn Map Company, Inc.; Mapbox; Waymo LLC; Civil Maps; Woven by Toyoyta; and Navinfo. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst service types, the localization segment held a dominating share of the market in 2021”

Based on service type, the market is segmented into mapping, localization, update and maintenance, and advertisement. Amongst these, the Localization category is currently dominating the market and is expected to see the same trend in the forecast period. The major factor attributed to the growth of the segment owing to its accurate and precise positioning and orientation in real-time as it is the fundamental to functioning of autonomous vehicles. As these vehicles require the surrounding environment information such as traffic controls, roadway geometry, and other objects, in order to perform planning and control with the help of a bunch of sensors, cameras, radars, and lidars. Moreover, these sensors cannot detect the physical environments that are blocked by other vehicles, to bypass this problem HD maps are used in the autonomous vehicle. Additionally, these maps are accessing information about the surroundings and stored on the map further improving the overall experience of the passengers.

“Amongst solutions, the cloud-based segment held a significant share of the market in 2021”

On the basis of the solution, the market is categorized into cloud-based and embedded. Among these, the cloud-based segment is expected to hold a significant share of the market in 2022 and is expected to perform the same in the forecast period. 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

“The Asia Pacific region is the fastest growing market for HD maps for autonomous vehicles in 2021”

The Asia Pacific region is projected to be the fastest growing region in the forecast period as the region is going through the heavy automotive expanding industry with major big giants such as Hyundai, BYD, Mahindra, and others. Moreover, the countries such as China, and India have increased their investment in research and development, which too support government policies and have propelled the growth of HD maps for the autonomous market. 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. Moreover, the region is a hub for IT infrastructure with the home of various OEMs such as NavInfo, and Momenta that develop technologically advanced maps and shake hands with companies like Here, and Analog Devices that boost the growth of the HD maps for the autonomous vehicle market.

HD Maps for Autonomous Vehicle Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global HD maps for autonomous vehicle market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the HD Maps for Autonomous Vehicle Market Analysis (2022-2030

Analyzing the historical market, estimating the current market, and forecasting the future market of the global HD maps for the autonomous vehicle market were the three major steps undertaken to create and analyze the adoption of HD maps for autonomous vehicles in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global HD maps for the autonomous vehicle market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the HD maps for autonomous vehicle market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the HD maps for autonomous vehicle market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as service type, vehicle type, solution, usage type, and level of autonomy. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the HD maps for the autonomous vehicle market. Further, we conducted factor analysis using dependent and independent variables such as service type, vehicle type, solution, usage type, and level of autonomy of the HD maps for the autonomous vehicle market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the HD maps for the autonomous vehicle market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global HD maps for the autonomous vehicle market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the HD maps for autonomous vehicle market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global HD maps for autonomous vehicle market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global HD maps for autonomous vehicle market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the service type, vehicle type, solution, usage type, and level of autonomy in the global HD maps for autonomous vehicle market.

The main objective of the Global HD Maps for Autonomous Vehicle Market Study

The current & future market trends of the global HD maps for autonomous vehicle market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the HD maps for autonomous vehicle market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the service type, vehicle type, solution, usage type, and level of autonomy
• Define and analysis of the regulatory framework for the HD maps for autonomous vehicle industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the HD maps for autonomous vehicle market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the HD maps for autonomous vehicle market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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