DUBLIN, May 8, 2023 /PRNewswire/ — The “Global High-Definition Maps Market Size, Trends, and Growth Opportunity, by Component Type, by Hardware Type, by Services Type, by End-User, by Region and Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The Global High-Definition Maps Market was valued at USD 2.4 billion in 2022 and is expected to expand to USD 15.55 billion by 2030, at a CAGR of 23.70% during the forecast period 2023-2030.
Companies Mentioned
- HERE
- TomTom International BV.
- NavInfo Co. Ltd.
- The Sanborn Map Company Inc.
- CE Info Systems Pvt. Ltd.
- DEEPMAP
- Momenta
- Navmii
- Mobileye
- ZF Friedrichshafen AG
High-Definition maps are highly error-free maps that are used in autonomous driving (AD), containing details not generally present on conventional maps.
These maps can be precise at a centimeter level. HD maps usually seize using an array of sensors, such as radars, LiDARs, digital cameras, and GPS.
High-Definition maps play a crucial role in autonomous driving modules including simulation, perception, localization, and path planning.
Market Drivers
The increase in developments in autonomous vehicles, and the concept of self-driving cars becoming reality, due to technological advances in microprocessors & radar are boosting the global high-definition maps market. The automotive private sector developments are one of the major factors that drive the HD maps market.
Furthermore, rapid developments in 5G technology, rising smartphone penetration, and a high adoption rate of HD maps for mapping & location purposes are expected to drive the growth of the high-definition maps market over the forecasted period of 2030.
Market Restraints
Limited standardization of HD maps, security & ethical concerns about HD maps, high implementation cost, and poor internet connection from detecting the location, road conditions, and traffic situation in rural areas constrain the high-definition maps market growth.
Market Segmentation
By Component Type
- Hardware
- Software
- Services
By Hardware Type
- Camera
- Global Positioning System
- LIDAR
- Inertial Measurement Unit
- Others
By Services Type
- Mapping & Localization
- Updates & Maintenance
- Advertisement
By End-User
- Automotive
- Defense & Aerospace
- Internet Service Providers
- Others
For more information about this report visit https://www.researchandmarkets.com/r/jx23qf
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SOURCE Research and Markets
