Global HD Maps for Autonomous Vehicle Market to reach USD 8.02 billion by 2027.Global HD Maps for Autonomous Vehicle Market is valued approximately at USD 0.88 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 34.87% over the forecast period 2021-2027. HD maps provide localization data, which can aid in determining the vehicle's precise location on a map. Visual Simultaneous Localization and Mapping (SLAM) has gained significant accuracy in determining the position and orientation of a device with respect to its localization while simultaneously mapping the environment around that device due to recent advancements in computer vision and artificial intelligence. HD maps are projected to deliver advertising services, which will be the primary source of revenue for HD maps companies. Furthermore, the market is driven by the key factors such as rising demand for autonomous vehicles, Rapid advancements and growth in the 5G Technology and Huge investments by the startups for the development of HD Maps. For instance, Mapbox, mapping and location clouding platform for the developers, has accumulated USD 227.2 million war fund owing to a USD 164 million Series C investment from SoftBank's USD 93 billion Vision Fund in 2017. As an alternative to Google Maps and significant European counterparts like TomTom and HERE Technologies, Mapbox has established out a unique spot in location and mapping services. Mastercard, Snapchat, AirBnB, Pinterest, and Tinder are some of the companies that use Mapbox's geographical mapping technology. However, Lack of standardization in the HD Mapping, may impede market growth over the forecast period of 2021-2027.

Geographically, North America is leading the market in terms of revenue in HD maps for autonomous vehicles market owing to growing sales of electric vehicles in the United States drives the market growth as electric battery pack is considered as a stable power source for efficient working of higher-powered autonomous vehicles components. According to International Energy Agency, the sales of US electric vehicles market witnessed growth from 2017 to 2019. Moreover, the introduction of government regulations in United States regarding the development of autonomous vehicles as well as geospatial information may strive the demand for HD Map for Autonomous Vehicles.

Major market player included in this report are:
DeepMap
Navinfo Co. Ltd
Tomtom (Bridgestone)
Here Technologies
Intellias (Horizon Capital)
Waymo
NVIDIA
Esri
Carmera
Civil Maps



The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Service type:
Mapping
Localization
Updates and Maintenance
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By Level of Automation:
Semiautonomous Driving Vehicles
Autonomous Driving Vehicles
By Vehicle type:
Passenger Car
Commercial Vehicles
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global HD Maps for Autonomous Vehicle Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors