Global HD Maps Market to Reach $17 Billion by 2028: COVID Impact, Opportunities, Trends and Forecast

Evolve Business Intelligence, today has published a new market research report on “Global HD Maps Market with COVID-19 impact, global and segmental analysis”. According to the report, the global HD maps market size was valued at $1.7 billion in 2020 and is expected to reach $17.0 billion by 2028 growing at the CAGR of 31.4% from 2021 to 2028.
Some of the major factors for the growth of the HD Map market include:
• Increasing investments by start-ups in the development of HD maps in response to the growing trend of autonomous cars
• Help in critical decision-making offering increased road safety

For more information on the report: https://evolvebi.com/product/hd-maps-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the HD maps market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

In terms of COVID 19 impact, the HD maps market report also includes the following data points:
• COVID19 Impact on HD maps market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in HD maps market

Analyst View
According to Lekha, Principal Analyst, Evolve Business Intelligence, “the recent COVID scenario is expected to provide significant growth in HD-Map Market through various factors such as adopting HD maps on a semi-autonomous vehicle, even raising investment on autonomous vehicle and growing partnership with OEMs and HD-Map Providers. However, the decline in the overall automotive industry is expected to offset this development during this period”

Competitive Scenario
Some of the major HD Maps players holding high market share include Here Technologies Inc, TomTom, Google, Blickfeld. These players adopted partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.

Key Development
• In January 2021, Leia Inc., Continental, and HERE Technologies are partnering to bring 3D maps and navigation into Lightfield displays for automotive OEMs.
• In January 2021, TomTom launched GO Discover, its quickest and most powerful satnav, with a large 7-inch HD screen for exceptional clarity
• In January 2021, TomTom has announced that it has partnered with Autoware Foundation. Autoware is a non-profit organization supporting open-source projects that accelerate the development of autonomous driving technology.

Segmental Analysis
The report's aim is to provide a holistic market overview based on Deployment and Component.
Deployment
• On-Cloud
• On-Premise
Component
• Hardware
• Software
• Service
Application
• Automotive
• Defense & Aerospace
• Others

Report Coverage
The study also contains a comprehensive value chain, as well as details on the key factors affecting the market growth (drivers, constraints, and opportunities). Furthermore, the report includes 10 key players in the HD maps market ecosystem that has been strategically profiled, along with the market ranking/share for major players. Under the company profile section, the company’s core competencies have been comprehensively analyzed, along with detailing the competitive landscape for the market players, and the strategies such as partnerships and collaboration, acquisitions, product launches and developments, contracts, and business expansion adopted by them to grow in the market.

The key players profiled in the report are:
• Here Technologies Inc.
• TomTom
• Google
• Blickfeld
• NavInfo
• The Sanborn Map Company
• Mapbox
• Waymo
• Precivision Technologies Inc.
• Civil Maps

To request a free sample report, click on the “Request Sample PDF” button on https://evolvebi.com/product/hd-maps-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Research Methodology
This research study makes substantial use of secondary sources, archives, and databases (such as annual reports, news releases, magazines, Trademap, company websites, and other paid databases) to classify and gather information valuable for this analysis. The entire process involves a review of top industry participants' financial records. Following the determination of the overall market size, the total market was divided into several segments and sub-segments, and this information was then verified through key industry specialists such as CEOs, directors, VPs, and marketing executives.

Report Objectives
• To define, describe, and forecast the HD maps market, in terms of value, segmented on the basis of indication, type, technology, and geography
• To forecast the market size across 4 key regions—Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW)
• To provide detailed information regarding drivers, restraints, and opportunities, in the HD maps market
• To provide an overview of the value chain analysis pertaining to the HD maps industry
• To strategically analyze each segment and subsegment with respect to individual overall growth trends and their contribution to the overall HD maps market
• To analyze opportunities in the market by identifying high-growth segments of the HD Maps market
• To profile key players in the HD maps market and comprehensively analyze their core competencies
• To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global HD maps market

Evolve Business Intelligence
C-218, 2nd floor, M-Cube
NH 48, Balitha, Vapi
Gujarat 396191
India

Email: sales@evolvebi.com
Website: https://evolvebi.com/

Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool – EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune’s global 2000 companies.

This release was published on openPR.