Selbyville, Delaware, Sept. 04, 2024 (GLOBE NEWSWIRE) --
The automotive 3D map system market valuation is predicted to surpass USD 12.8 billion by 2032, as reported in a research study by Global Market Insights Inc.
The growing focus on vehicle safety and efficiency is a significant driver in the market. According to WHO, the number of annual road traffic deaths has seen a slight decrease, now standing at 1.19 million. As governments and regulatory bodies worldwide implement stricter safety standards, automakers are increasingly incorporating advanced 3D mapping technologies to enhance vehicle safety features. These systems provide real-time, precise mapping data that supports various safety functions, such as lane departure warnings, collision avoidance systems, and adaptive cruise control. Additionally, the push for greater fuel efficiency and reduced emissions is driving the adoption of 3D map systems, as they enable optimized route planning and efficient navigation, helping to minimize fuel consumption and reduce overall vehicle wear and tear.
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The automotive 3D map system market from the software segment will grow rapidly through 2032, driven by the rise of autonomous and semi-autonomous vehicles. Automotive manufacturers and tech companies are investing in sophisticated software solutions that can process vast amounts of data, providing accurate and detailed 3D maps. These maps are essential for safe and efficient navigation, especially in complex urban environments. The software not only supports real-time updates and integration with various sensors but also enhances the overall driving experience by delivering high-resolution, interactive maps that are crucial for advanced driver-assistance systems (ADAS) and autonomous driving technologies.
The augmented reality segment will witness decent growth through 2032, as the integration of AR into navigation allows for a more immersive and intuitive driving experience. This technology enhances situational awareness by providing drivers with real-time, context-aware information, such as turn-by-turn directions, hazard warnings, and points of interest, directly on the windshield or head-up display (HUD). The augmented reality navigation is gaining traction as it offers a safer and more engaging way to navigate, reducing the cognitive load on drivers and helping them make better-informed decisions on the road.
Europe Automotive 3D Map System market size will expand significantly over 2024-2032, driven by a strong automotive sector, coupled with stringent regulations around vehicle safety and emissions. European automakers are at the forefront of integrating 3D map technologies into their vehicles, supported by a well-established infrastructure for autonomous and connected vehicles. Moreover, the region's focus on innovation and sustainability is encouraging the development of more efficient and accurate mapping solutions that cater to the needs of both conventional and electric vehicles. Countries like Germany, France, and the UK are leading the charge, with significant investments in research and development, as well as collaborations between automakers and tech companies.
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Major companies in the automotive 3D map system market include, HERE Technologies, TomTom NV, NVIDIA Corporation, Apple Inc, Google LLC, Waymo LLC, Baidu, Inc, Dynamic Map Platform Co., Ltd, Robert Bosch GmbH. Their growth strategies include investing heavily in research and development to enhance the precision and capabilities of their mapping technologies, forming strategic partnerships and collaborations with automakers and tech firms to integrate advanced 3D mapping solutions into next-generation vehicles, and expanding their presence in key geographical markets. Additionally, they are focusing on acquisitions and mergers to broaden their technological portfolios and enter new market segments. Some are also leveraging artificial intelligence and machine learning to improve real-time data processing and develop more accurate and responsive mapping systems for autonomous and semi-autonomous vehicles.
In August 2024, Hyundai Motor Group announced its plan to collaborate with global tech companies to enhance its future mobility technologies, including autonomous driving, unmanned aerial vehicles (UAMs), and connected cars. Hyundai Autoever Corp., a subsidiary, is reportedly looking to partner with Google to improve its navigation map system as part of these efforts.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Automotive 3D Map System Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2018-2032
Chapter 3 Automotive 3D Map System Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Component supplier
3.2.2 Technology providers
3.2.3 Software providers
3.2.4 Distributors
3.2.5 End users
3.3 Profit margin analysis
3.4 Vendor matrix
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Key news & initiatives
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 The proliferation of autonomous driving technology
3.9.1.2 Rising advancements in sensor technology
3.9.1.3 Integration with cloud computing and connectivity
3.9.1.4 The rise of Electric Vehicles (EVs) and shared mobility services
3.9.2 Automotive 3D Map System Market pitfalls & challenges
3.9.2.1. High cost associated with developing and deploying advanced 3D mapping technology
3.9.2.2 Data privacy and security concerns
3.10 Growth potential analysis
3.11 Porter’s analysis
3.11.1 Supplier power
3.11.2 Buyer power
3.11.3 Threat of new entrants
3.11.4 Threat of substitutes
3.11.5 Industry rivalry
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
