Suite 430, Northbrook, IL 60062 -- (SBWIRE) -- 09/22/2020 -- The HD Maps for Autonomous Vehicle Market is estimated to be USD 1.3 billion in 2020 and is projected to reach USD 20.4 billion by 2030, at a CAGR of 36.2% from 2020 to 2030. The key drivers of the market are increasing trend for autonomous driving and increase in government initiation for autonomous driving which directly helps the HD map market growth.

The HD map market is dominated by companies such as TomTom, HERE Technologies, Waymo, NVIDIA, and NavInfo, of which HERE Technologies, NVIDIA, and Waymo are based in the US, NavInfo in China, and TomTom in the Netherlands.

Opportunities:
1. Autonomous Car Renting Services
2. Advancement in 5G Technology
3. Increasing Demand for Real-Time Data

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The cloud-based service segment is estimated to account for the largest market size during the forecast period

Cloud-based services are the most used solution segment by most of the top companies, which include NVIDIA, TomTom, and HERE Technologies, to name a few. Compared to the embedded system segment, HD map offered as cloud service has added benefits which include more accuracy and easy update of the map. Also, the cost factor plays a vital role in the increased market share of cloud-based service, as the embedded system requires large storage space for which more storage devices are required, which rapidly increases its cost of setting up.

The passenger vehicle type segment is estimated to account for the largest market size during the forecast period

Passenger vehicle type is expected to dominate the market over the forecast period which is to the fact that autonomous commercial vehicle is expected to be commercialized post-2023, and OEMs investment has been inclined towards passenger vehicles especially in China. The specification that needs to be incorporated while building the HD map in more complex for commercial vehicles, especially trucks, when compared to passenger vehicles.

North America region is estimated to account for the largest market size during the forecast period.

North America region is expected to account for the largest share in the HD map market over the forecast period. US is estimated to be the largest market across the years in this region, which is attributed to the increasing partnership/ collaboration of top HD map providers which include NVIDIA and Waymo with automotive OEMs across the world, such as Toyota and Volvo cars. NAFTA (North American Free Trade Agreement) has also helped in the growth of this region, especially in countries such as Canada and Mexico.

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Critical Questions:

1. How will vehicle sales trends impact the market in the long term?
2. How do you see the impact of government regulations in the HD map for the autonomous vehicle market?
3. What are the upcoming trends in the HD map for the autonomous vehicle market? What impact would they make post-2020?
4. What are the key strategies adopted by top players to increase their revenue?
5. Which are the key country markets over the next decade?