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High Definition (HD) Map For Autonomous Vehicle Market Trends, Analysis, Opportunities And Forecast 2033
High Definition (HD) Map For Autonomous Vehicle Market
As per the report, the HD map for autonomous vehicle market size has grown strongly in recent years. It will grow from $1.40 billion in 2023 to $1.49 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The HD map for autonomous vehicle market size is expected to see strong growth in the next few years. It will grow to $1.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
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Increasing Traffic Congestion Drives Demand For The HD Map For Autonomous Vehicles Market
The increasing traffic congestion is expected to drive the growth of the high-definition (HD) map for autonomous vehicle going forward. Traffic congestion refers to the condition of overcrowding and slow-moving or stagnant traffic flow on roadways, resulting from a combination of factors such as high vehicle volumes, limited road capacity, and adverse conditions. High-definition (HD) maps for autonomous vehicles help decrease increasing traffic congestion by enabling precise navigation, optimizing routes, minimizing traffic incidents through real-time updates, and facilitating the coordination of vehicles for smoother traffic flow. For instance, in January 2023, according to the global Traffic Scorecard 2022 report published by INRIX, a US-based transportation analytics and connected car service company, the average American driver lost 36 hours due to congestion in 2021, resulting in $564 wasted in time, while in 2022, this figure increased to 51 hours, costing $869 in wasted time. Therefore, the increasing traffic congestion is driving the growth of the HD map for autonomous vehicle market.
Major Companies Launching Innovative Solutions In The HD Map For Autonomous Vehicle Market
Major companies operating in the HD map for autonomous vehicle market are increasing their focus on developing advanced solutions, such as highly automated mapping technology platforms, to revolutionize how maps are created, updated, and used. Highly automated mapping technology refers to advanced systems and processes that utilize artificial intelligence, machine learning, and sensor data to autonomously generate and update detailed maps with minimal human intervention, typically for applications in autonomous vehicles, urban planning, and infrastructure management. For instance, in January 2023, HERE Technologies, a Netherlands-based location data and technology company, launched UniMap, a highly automated mapping technology that enables the rapid creation of digital maps and location products. This platform offers highly automated mapping capabilities for the HD map for the autonomous vehicle market, utilizing artificial intelligence (AI) models to process massive vehicle sensor data and provide up-to-date map features like road signs and speed limits. HERE's rapid mapping and updating abilities meet the crucial demand for precise high-definition (HD) maps, facilitating the safe and effective operation of autonomous vehicles and establishing HERE as a frontrunner in fostering the expansion of the autonomous vehicle market.
The high definition (HD) map for autonomous vehicle market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
3) By Level Of Automation: Semi-Autonomous, Fully Autonomous
4) By Application: Mapping, Localization
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Major companies operating in the high definition (HD) map for autonomous vehicle market are Google LLC (Alphabet Inc.), Aurora Innovation, Intel Corporation, Uber Technologies Inc., NVIDIA Corporation, Baidu Inc., Mobileye, Esri, HERE Technologies, Electrobit, TomTom International BV, Waymo LLC (Alphabet Inc.), Navinfo Co. Ltd, Zenrin Co. Ltd., Intellias, Motional Inc., Argo AI, Mapbox, Cruise LLC, RMSI, MapmyIndia, Mapscape BV, Carmera Inc., DeepMap Inc., Oxbotica, The Sanborn Map Company Inc., Dynamic Map Platform Co. Ltd., Mapper.ai, Mapillary from Meta, Voxelmaps
Contents of the report:
1. Executive Summary
2. High Definition (HD) Map For Autonomous Vehicle Market Report Structure
3. High Definition (HD) Map For Autonomous Vehicle Market Trends And Strategies
4. High Definition (HD) Map For Autonomous Vehicle Market - Macro Economic Scenario
5. High Definition (HD) Map For Autonomous Vehicle Market Size And Growth
…..
27. High Definition (HD) Map For Autonomous Vehicle Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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