Market Trends of Automotive Digital Mapping Industry
This section covers the major market trends shaping the Automotive Digital Mapping Market according to our research experts:
Advance Driver Assistance Systems (ADAS) is expected to have significant Growth Rate
- Driver assistance application helps a driver during heavy traffic in the parking zone and on the highways by providing real-time traffic information. It helps in improving the operational assistance of a connected car. This application revenue is expected to witness significant growth in the future. This is mainly because of the high importance of optimal routing and journey management from the end-user perspective.
- The driver assistance system enhances driver safety by using images taken from onboard cameras and RADAR technology. These systems improve the safety of both passengers and pedestrians. Thus, driver assistance application is one of the key services in the connected car segment.
- As the automobile industry continues to incorporate advanced driver assistance systems (ADAS) into cars, the number and variety of semiconductors in the cars continue to increase. The automobile segment continues to represent the largest single application growth opportunity for semiconductor vendors.
- The increased adoption of more sophisticated ADAS functions, which will eventually result in autonomous vehicles, is one of the key factors driving digital maps' growth during the forecast period. As companies continue to understand the sensor data, sensor fusion, and algorithms required for autonomous driving, the large quantities of real-time data that has to be processed could change the vehicle control architecture. Recently, Continental built a new plant for advanced driver assistance systems in the USA.
- Government regulations, including NHTSA's new 5-Star safety rating requirements and EURO NCAP's 5-Star safety, which require some form of collision avoidance and pedestrian safety features, will increase pressure on automobile manufacturers to implement the ADAS functionality.
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North America is Expected to Have Significant Market Share
- The improved precision by the usage of GPS systems is leading to increasing reliance on GPS systems. This, coupled with the increasing number of autonomous vehicles and defense spending, are the primary reasons for the high adoption of these systems in the United States.
- The United States is also leading the world to adopt autonomous vehicles, with around 4.5 million vehicles by 2035. This growth is majorly attributable to technology giants, like Tesla Motors, Ford Motor Company, General Motors, and Chrysler.
- Ontario launched a USD 80 million Autonomous Vehicle Innovation Network (AVIN), which focuses on honing the region's technology. With this, Ford also announced to spend up to USD 337.9 million on a new R&D center in Ontario. Increasing investments in the region are expected to drive the automotive digital mapping market.
- The demand for connected cars in these countries is increasing due to technology-savvy customers, increased spending on connectivity technologies, and the major presence of tech base in Silicon Valley, San Francisco, California, the United States, which is propelling the growth of luxury cars featuring advanced connectivity solutions. In addition, the regulations in the region focus more on driver convenience, safety, and connectivity.
- Compared with other regions, the high sale of luxury cars in the Americas allows OEMs to push for the adoption of advanced connected car technologies like ADAS as an essential accessory. The increase in demand for electronic vehicles contributes to the adoption of the infotainment system in this region, thereby increasing the demand for digital mapping solutions and services.
- In August 2020, according to VelodyneLidar, Inc., KaartaCloud supports Velodyne’s lidar sensors. Kaarta’snew cloud-based application is a platform to process, store, and share 3D spaces. Paired with high-quality lidar to capture the environment in 3D, the data is uploaded into Kaarta Cloud to quickly and easily process it into a point cloud for use. With this high-quality 3D mobile mapping will be available to a broader consumer base.
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