Analysts forecast the global automotive HD maps market to grow at a CAGR of 13.79% during the period 2018-2022. One trend in the market is adoption of high bandwidth automotive networks.
Currently, the majority of vehicles use controller area network (CAN) and local interconnect network (LIN) for networking in the vehicle. The main reasons for the popularity of these networking technologies are low cost and high flexibility.
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Major key players in the global automotive HD maps market: HERE, Intel, NVIDIA, and TomTom.
According to the automotive HD maps market report, one driver in the market is maturing autonomous vehicles concept - boosting need for HD maps. Companies, such as Delphi, Continental, Bosch, Daimler, Scania, and Volvo (among others) are working on expanding the autonomous driving concept.
Such campaigns and promotions have widened the market acceptance of semi-autonomous features in passenger cars and commercial vehicles.
Further, the market report states that one challenge in the market is high cost associated with HD mapping. HD maps have accurate and dense map data for enabling autonomous driving.
One of the data sources for HD maps is map generated from hardware-based mapping solutions, which rely on components, such as stereo cameras, 360-degree camera rigs, radar, and high-precision GPS connectivity among others. The purchase of such components requires huge initial investments, which acts as a deterrent for the HD maps market.
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Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?