Global HD Map Market- Industry Analysis, Size, Share, Growth, Trends and Forecast, 2022

HD stands for high definition. HD map i.e. high definition map is one of the fundamental members of the secure driving center chain. High definition pertains to accuracy in advanced technology, which gives accurate outcomes. High Definition implies that the absolute co-ordinates are more exact and accurate. Absolute co-ordinates accuracy pertains to the correctness of an objective on a map and an actual thing in the actual world. The absolute accuracy of a high definition Map is normally all right at the sub-meter level, and the comparative accuracy of the landscape is frequently superior. On the other hand, HD Map comprises more instructive and comprehensive data on road traffic info. HD Maps not only have high-precision co-ordinates, but also exact road shape, and every lane inclination, bend, direction, roll data, elevation are also incorporated. HD maps are used for accurate guidance and navigation and it assists the driver to arrive at the correct location. HD maps are the foundation of new autonomous car concept.

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The Global polymer HD map market is projected to witness prominent growth over the forecast period of 2017 to 2022 with substantial compound annual growth rate. Rising awareness regarding advancements in technology and dependency on the internet are the driving factors of this market. Demand for HD maps is rising significantly due to the increasing requirement in car renting services such as Ola and Uber, as these services are growing rapidly worldwide. Rising inclination towards autonomous driving trends, self-driving vehicles, and self-driving vehicle renting services worldwide is likely to boost the growth of the HD map market. Additionally, owing to the several benefits of HD maps such as guidance of traffic conditions, weather forecast, road conditions and others, their demand is rising and is projected to drastically grow over the forecast years. However, several rural areas in developing countries do not have rented driving car or self-drive services as well as HD maps cannot detect the location in remote areas because of poor internet connection, are the restraining factors for the global HD map market.

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The key market players for the global HD map market are Sanborn Map Company, Inc., here Technologies, Alibaba Group (AutoNavi Software Co., Ltd), Mapmyindia, Google Maps, TomTom NV and NavInfo Co., Ltd. By application, the market industry is split into; ADAS, Autonomous Vehicles, and Others. According to types, the HD map market is classified as; Type 1 and Type 2. Geographically, the global market is segmented into regions which are; Asia-Pacific (India, China, Southeast Asia, Korea, and Japan), North America (Mexico, Canada and USA), South America (Argentina, Columbia and Brazil), Europe (Italy, France, Russia, UK and Germany) and Middle East and Africa (Egypt, UAE, Nigeria, South Africa and Saudi Arabia).

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