HD Map for Autonomous Vehicles Market is Booming: Explore Opportunities!

HD Map for Autonomous Vehicles Market

The HD Map for Autonomous Vehicles Market is estimated to be USD 1.3 billion in 2020 and is projected to reach USD 20.4 billion by 2030, at a CAGR of 36.2% during the forecast period.

The key factors that drive this market include the increasing investment by OEMs and tier-1 suppliers into HD mapping companies and collaboration between various HD mapping companies to offer a standardized HD map product across all regions.

Some of the key manufacturers operating in the market are TomTom (Netherlands), HERE Technologies (Netherlands), Waymo (US), NVIDIA (US), and NavInfo (China). 

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The passenger vehicle segment of the autonomous vehicle is estimated to be the largest in the HD mapping market. Many of the top OEMs especially in the Chinese market which has invested in HD mapping are inclined towards passenger vehicles, which is accompanied by the fact that the laws concerning the passenger vehicles are less rigid as compared to commercial vehicles. The commercial vehicle segment of autonomous vehicles is expected to be commercialized post-2023, after which this market is estimated to occupy a large share of the HD mapping market. The stringent regulation on driving hours and a tight delivery schedule will drive this market, especially for autonomous trucks for the coming years.

The cloud-based service for HD mapping holds the largest share on the HD maps, by the solution market. Many of the top players in the HD mapping market such as NVIDIA, HERE Technologies, TomTom, and Baidu, to name a few are using a cloud platform to offer its HD mapping solution. This is accompanied by the fact that cloud-based service is more flexible, accurate, and needs lesser storage space when compared to HD installed as an embedded system in autonomous vehicles.

HD mapping is offered for both semi-autonomous and autonomous vehicles, of which the semi-autonomous vehicle segment currently holds the largest share of the HD mapping market. This is because the HD mapping specification required for autonomous vehicles is complex when compared to a semi-autonomous vehicle, which mainly requires features such as Co-operative Adaptive, Cruise Control, Highway Autopilot, Auto Lane Change, and Hands-free Auto Parking. The other factor that helps the semi-autonomous market is the public’s concern about the safety of autonomous driving vehicles. But with the improvement in technology and an increase in government initiatives for autonomous driving, this market is expected to grow over the forecast period.

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Currently, the HD mapping market is dominated by North America, which is accompanied to the fact that large customer base and high disposable income of end-users, especially in the US, have fueled the demand for high-end safety vehicles, which in turn has resulted in increasing innovations and partnership by international automotive OEMs which has helped in the growth of HD map in this region.  Also, the emerging economies of Asia Oceania, which include China and India, are expected to grow over the years.

The growing economy, favorable financial environment, high disposable income, and increasing vehicle production are factors fostering the growth of the passenger car segment in these regions. Moreover, increasing the production of luxury vehicles and high demand for safety and convenience features in North America and Europe are expected to further propel the demand for HD maps in autonomous vehicles during the forecast period.

Critical Questions:

  • How will vehicle sales trends impact the market in the long term?
  • How do you see the impact of government regulations on the HD map for the autonomous vehicle market?
  • What are the upcoming trends in the HD map for the autonomous vehicle market? What impact would they make post-2020?
  • What are the key strategies adopted by top players to increase their revenue?
  • Which are the key country markets over the next decade?

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