ID: MRFR/ICT/7265-HCR | February 2021 | Region: Global | 110 pages
High definition maps or HD maps have extremely high precision at centimeter-level and are built specifically for self-driving purposes. HD maps are used in navigation devices, smartphones, and autonomous cars among others to obtain precise information and instructions regarding how to move around in the 3D space. An HD map consists of five layers which include a real-time layer, map prior layer, semantic map layer, geometric map layer, and base map layer.
Increasing investments by start-ups in the development of HD maps in response to the growing trend of autonomous cars are the major factors driving the growth of the HD maps market. The HD maps help drivers and autonomous vehicles to visualize routes and help in critical decision-making offering increased road safety which has fueled the adoption of HD maps for autonomous cars. However, legal and privacy issues related to HD maps and high cost of technology are the major challenges faced by the market vendors and lack of standardization in HD maps is hampering the market growth. The market seeks opportunities from advancements in 5G technology.
The Prominent Players active in the Global Market of HD Maps are Here Technologies Inc. (The Netherlands), TomTom NV (The Netherlands), Google (US), Alibaba (China), NavInfo (China), The Sanborn Map Company (US), Mapmyindia (India), Deepmap, Inc. (US), Momenta (US), Navmii (UK), Mapbox (US), Civil Maps (US), RMSI (India), Genesys International Corporation Ltd (India) and Cyient Inc. (India).
The Global HD Maps Market has been segmented on the basis of Component, Vertical, and Region.
By Component, the market has been segmented into hardware, software, and service. The hardware segment has been further categorized as a camera, global positioning system, LIDAR and inertial measurement unit, and others. The service segment has been further classified into mapping and localization, updates and maintenance, and advertisement.
By Deployment, the market has been categorized into on-cloud and on-premise.
By End-User, the market has been categorized into automotive, defense & aerospace, internet service providers, and others.
By Region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The market in the rest of the world has been further classified into the Middle East and Africa, and South America.
Market Research Future (MRFR) study has covered the following countries in the regional analysis of the HD maps market: the US, Canada, and Mexico in North America. Germany, the UK, France, Spain, and Italy in Europe. China, Japan, India, South Korea, and Australia in Asia-Pacific. In the rest of the world, we have considered the Middle East and Africa and South America region.
North America currently dominates the global HD maps market and has a significant market share. This is due to the presence of major key players in the market investing heavily in the research and development activities to develop HD maps which are capable of offering centimeter-level precision. The region is also an early adopter of technology, has highly skilled expertise, and witnessed an increasing adoption of advanced technologies such as AI and 5G. Europe is also expected to have a considerable share in the market. Advancements in 5G technology and increasing focus on partnerships and collaborations of the automotive manufacturers and HD map developers are the factors driving the market growth in the region
Asia-Pacific is projected to be the fastest-growing regional market during the forecast period. Increasing investments by startups to develop HD maps and increasing demand for autonomous cars is driving the market growth in the region. Rising smartphone penetration and increasing adoption of HD maps for mapping and localization purposes is further driving the market growth. The global HD maps market in the rest of the world is also expected to grow at a considerable rate during the forecast period due to the rising demand for HD maps in autonomous cars and the increasing adoption of cloud-based services.
Frequently Asked Questions (FAQ) :
The global high definition maps market is predicted to hold a substantial value during the forecast period.
The global high definition maps is estimated to flourish at a decent CAGR during the forecast period.
According to the study, North America is projected to dominate the market. On the other hand, the APAC region is estimated to be the fastest-growing market.
The global high definition maps market can be segmented on the basis of component, deployment, end—user, and region.
The most renowned names of the global high definition maps market are Here Technologies Inc. (The Netherlands), TomTom NV (The Netherlands), Google (US), Alibaba (China), NavInfo (China), The Sanborn Map Company (US), Mapmyindia (India), Deepmap, Inc. (US), Momenta (US), Navmii (UK), Mapbox (US), Civil Maps (US), RMSI (India), Genesys International Corporation Ltd (India) and Cyient Inc. (India).