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HD Maps for Autonomous Vehicles: A $16.9 Billion Market by 2030
The HD Map for Autonomous Vehicles Market, by value, is estimated to be USD 1.4 billion in 2021 and is projected to reach USD 16.9 billion by 2030, at a CAGR of 31.7% from 2021 to 2030. HD maps are crucial for the development of autonomous vehicles. HD maps are built and updated in real-time by using the data captured by various sensors, cameras, LiDAR. This data helps autonomous vehicles to make better decisions while performing driving tasks. HD maps can also provide localization information, which will help find the vehicle's accurate #position on the map. With recent advancements in computer vision and artificial intelligence, visual Simultaneous Localization and Mapping (SLAM) has gained significant accuracy in determining the #position and orientation of a device with respect to its localization while simultaneously mapping the environment around that device. It is expected that HD maps will also provide advertising services, which will be the key revenue-generating segment for HD maps companies.
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