HD Map for Autonomous Vehicles Market worth $16.9 Billion by 2030

With the growing trend of autonomous driving technology, the global HD maps market is expected to grow at a significant rate in the future. The promising market for self-driving car renting services and increased investments in autonomous driving technology startups are expected to boost the HD maps market. In addition, increasing R&D activities related to HD maps by leading HD map suppliers and several startups will further fuel the growth of HD maps for autonomous vehicle market. However, high investment costs and slow adoption rates in developing countries are considered the major restraints for this market.

The HD maps for autonomous vehicles market is estimated to be USD 1.4 Billion in 2021 and is projected to grow at a CAGR of 31.7% during the forecast period, to reach USD 16.9 Billion by 2030.

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Wide adoption of HD maps in passenger mobility segment expected to lead to market growth

Personal mobility is estimated to be the largest segment of the HD map for autonomous vehicle market, by usage type, owing to the higher volume of semi-autonomous vehicle sales, and a majority of semi-autonomous vehicles would be used for personal transportation. OEMs such as Honda, Nissan, General Motors, and Mercedes-Benz promote the use of HD map and use it to develop its level 2 and level 3 semi-autonomous vehicles. The commercial mobility segment is projected to be the fastest-growing because of the high demand for ride-sharing services, predominant usage of autonomous vehicles for ride-sharing and robo-taxi services, and growing partnership between ride-sharing companies and HD map providers.

Level 2&3 semi-autonomous vehicles to ensure dominant position of the segment

HD map market for Level 2&3 semi-autonomous vehicles is estimated to be the largest market, and the market for Level 4&5 autonomous vehicles is expected to be the fastest-growing market during the forecast period. The semi-autonomous vehicle segment dominates because of the demand for features such as Co-operative Adaptive Cruise Control, Highway Autopilot, Auto Lane Change, and Hands-free Auto Parking. Other factors include stringent laws concerning autonomous driving and a greater number of semi-autonomous vehicles on road than autonomous vehicles during the forecast period. Rapid advancements and the decreasing cost of?ADAS?components and solutions are expected to spur the growth of the HD map market for semi-autonomous vehicles. For example, ZF unveiled its coASSIST level 2+ driving system in 2020 with a price range of USD 1,000. Such affordable ADAS solutions would increase the penetration of major ADAS features in a standard ADAS package. ZF offers copilot, a scalable ADAS solution for level 2+ to level 4 driving systems, was co-developed with NVIDIA.

The Asia Ocenia is projected to be the fastest-growing HD maps for autonomous vehicles market, by 2030

Asia Oceania region is projected to be the fastest-growing market for HD map for autonomous vehicle during the forecast period. The factors that could contribute to the growth of the region are the presence of leading HD map providers such as AutoNavi, NavInfo, and Momenta and the changing regulations concerned with autonomous driving.

Asia Oceania region comprises countries such as China, Japan, India, and South Korea. In recent years, China has emerged as a hub for automobile production. Infrastructural developments and industrialization activities in emerging economies have opened new avenues, creating several opportunities for automotive OEMs. This has triggered the growth of the HD mapping market in these regions. MapmyIndia is the leading HD mapping solution provider for the Indian market, which serves top companies such as BMW, Ford, Hyundai, etc.?

Key Market Players

The HD maps for autonomous vehicles market includes players such as TomTom (the Netherlands), HERE Technologies (the Netherlands), Waymo (US), NVIDIA (US), Baidu (China), Dynamic Map Platform (Japan), NavInfo (China), and Zenrin (US).

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