According to the study published by Evolve Business Intelligence, The global HD maps market size is expected to reach $14,935.2 Million by 2028 growing at the CAGR of 36.4% from 2021 to 2028. Some of the major factors impacting the overall growth of the HD Maps market include increasing investment by start-ups in the development of HD Maps and the growing trend of autonomous cars. One of the factors hindering the growth of the market is limited standardization in HD Maps. However, the advancement in 5G technology is expected to register a significant opportunity to market.
According to Evolve Business Intelligence “the recent COVID scenario is expected to provide significant growth in HD-Map Market through various factors such as adopting HD maps on a semi-autonomous vehicle, even raising investment on autonomous vehicle and growing partnership with OEMs and HD-Map Providers”
TomTom to hold the highest market share in HD Maps
The HD Maps market has witnessed several new additions to the number of players offering the product. Some of these players are TomTom, Here Technologies Inc, Google, Blickfeld, and Mapbox.TomTom launched GO Discover, its quickest and most powerful satnav, with a large 7-inch HD screen for exceptional clarity. Leia Inc., Continental, and HERE Technologies are partnering to bring 3D maps and navigation into Lightfield displays for automotive OEMs.
The HD Maps market report published today includes market revenue generated through the sale of components such as hardware, software, services. The report also includes the analysis of the market based on deployments such as on-cloud, on-premises, and the report also includes the analysis of the market based on end-users are automotive, defense & aerospace, others.