HD Maps for Autonomous Vehicles Market Value Projected to Expand by 2029

The global HD maps for autonomous vehicles market is anticipated to grow at a considerable CAGR of 30.2% during the forecast period . The market growth is mainly driven by a factor that is growing interest in autonomous vehicles across the globe. Autonomous vehicles support conveniently maintaining shorter minimum distances between two vehicles when compared with a vehicle that is driven by a human. This results in a greater traffic flow, reduction in emission of gases, along with decreased congestion. According to the prediction of the United States Department of Transportation (USDOT), which highlight the facts that the increase of driverless cars will drastically see falling in the number of traffic deaths. As its report in 2017, indicates around 37,133 deaths due to vehicle crashes in which 94% were caused owing to human error. So, with the adoption of autonomous vehicles nearly 30,000 lives every year can be saved. Additionally, HD maps that are utilized in autonomous vehicles will ensure accurate and effective navigation along with a safe commute, which in turn will strengthen the demand for HD maps.

Moreover, the increasing benefits of autonomous renting car services are one of the key factors that are creating opportunities in the market. New product launches and collaboration in the market are likely to drive the growth of the global HD maps for the autonomous vehicles. For instance, in May 2021, one of the leading location data and technology platform companies named HERE Technologies had done the collaboration with INCREMENT P Corp. in order to expand its location technology and accelerate digital transformation for its customers.  

The key players present in the global HD maps for autonomous vehicles market had been adopting various strategies that include mergers and acquisitions to gain major market share. For instance, in June 2021, one of the companies named Nvidia had done the acquisition of DeepMap that is considered a provider of high-definition mapping solutions for autonomous vehicles in order to strengthen its mapping and localization capabilities.

To Request a Sample of our Report on HD Maps for Autonomous Vehicles Market:  https://www.omrglobal.com/request-sample/hd-maps-for-autonomous-vehicles-market

Market Coverage

•       The market number available for – 2021-2029

•       Base year- 2021

•       Forecast period- 2023-2029

Segment Covered- 

•       By Service Type

•       By Level Of Automation

•       By Vehicle Type

Regions Covered-

•       North America

•       Europe

•       Asia-Pacific

•       Rest of the World

Competitive Landscape- TomTom International BV., HERE Technologies, Waymo, NVIDIA, and Dynamic Map Platform

HD Maps for Autonomous Vehicles Market Segmentation

By Service Type 

·        Mapping

·        Localization

·        Updates and Maintenance

·        Advertisement

 By Level of Automation

·        Semi-Autonomous Driving Vehicles

·        Autonomous Driving Vehicles

By Vehicle Type

·        Passenger Vehicles

·        Commercial Vehicles

A full Report of HD Maps for Autonomous Vehicles Market is Available @   https://www.omrglobal.com/industry-reports/hd-maps-for-autonomous-vehicles-market

Regional Analysis

North America

·        United States

·        Canada

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan

·                  South Korea

·                  Rest of APAC

Rest of the World

Company Profiles 

·        Amazon

·        Apple Inc.

·        Blickfeld GmbH

·        Civil Maps

·        Dynamic Map Platform

·        HERE Technologies

·        MapMyIndia

·        NavInfo Co., Ltd. 

·        NVIDIA

·        SpearEye Automotive Safety inc

·        The Sanborn Map Co. Inc.

·        TomTom International BV.

·        Voxel Maps

·        Waymo

·        Zenrin

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About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:

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Contact Person: Mr. Anurag Tiwari

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