What is Automotive Maps Market?
Automotive Maps is a process of compiling collected data to produce maps in the form of virtual images, which accurately represent a geographical area, major roads, rivers, and important landmarks such as airports, tourist attractions, and hospitals in and around the region. The automotive industry has been at the forefront of improvement and has been proactively accepting technology to provide an enhanced experience to the end-user.
Highlights from Automotive Maps Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | TomTom(Netherlands), HERE Technologies(Netherlands), Waymo(United States), NVIDIA(United States), NavInfo(China), The Sanborn Map Company (United States), Waymo (United States), Deepmap, Inc. (United States) and Navmii (United Kingdom) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing , and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Automotive Maps market throughout the forecasted period.
TomTom(Netherlands), HERE Technologies(Netherlands), Waymo(United States), NVIDIA(United States), NavInfo(China), The Sanborn Map Company (United States), Waymo (United States), Deepmap, Inc. (United States) and Navmii (United Kingdom) are some of the key players profiled in the study. Automotive Maps Market Segmentation:
Scope | Sub-Segments |
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Type | HD maps and Ordinary maps |
Components | Hardware {Camera, Global Positioning System (GPS), LIDAR, and Inertial Measurement Unit (IMU), Other},Software {Standalone, Integrated},Service {Advertisement, Mapping, Localization, Update & Maintenance} |
Deployment Mode | Cloud-Based,Embedded |
Usage | Passenger,Commercial |
On the basis of geography, the market of Automotive Maps has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Shift to cloud-based services
Market Growth Drivers:
The major factor driving the growth of automotive maps market size is the integration of navigation-supported safety features and An increase in the number of vehicles on the road has increased accident rates globally
Challenges:
The high cost of mapping equipment
Restraints:
The high cost of mapping equipment
Opportunities:
Growing support for open source and standard platforms for application development in automotive infotainment is one of the key trends
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Automotive Maps provider, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
Market Leaders & Development Strategies
In November 2022, TomTom launched a new map platform. The new maps claim to offer greater geographic coverage, an expanded set of supported data types, and faster update cycles. market.
In December 2019 Mitsubishi and NTT to buy 30% of self-driving mapping company Here Technologies, a digital map provider. Digital map provider for self-driving cars, in an attempt to compete against Silicon Valley in future mobility services.