Northbrook, IL -- (SBWIRE) -- 03/19/2021 -- The HD Map for Autonomous Vehicle Market is estimated to be 1.3 billion in 2020 and is projected to reach USD 20.4 billion by 2030, at a CAGR of 36.2% during the forecast period. The key factor that drives the HD map market includes increased investment in startup companies for the development of HD maps and growing trend for autonomous driving.

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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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.

Level 2&3 semi-autonomous vehicle segment occupies the largest share in the HD map market. This is primarily because the laws concerning semi-autonomous driving are more relaxed when compared to autonomous driving. The specification needed for HD maps for autonomous driving is more complicated when compared to semi-autonomous vehicles which currently helps for the growth of the semi-autonomous vehicle HD map market. Safety concerns regarding autonomous driving among the public also restrain the market.

North America comprises the US, Canada, and Mexico. The US currently holds the largest share which can be attributed to a large customer base and high disposable income of end-users in the US have fueled the demand for high-end safety vehicles, which in turn has resulted in increasing innovations and partnership by international automotive OEMs. Other factors that fueled its growth is government initiatives which include autonomous vehicle testing in states such as California, Nevada, and the District of Columbia and Arizona, creating new robust regulations for the use and testing of autonomous technology.

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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?