Google Maps no longer shows suggestions only from your recent searches. When you start typing a query, Google Maps shows popular locations, searches and local businesses. For example, you can type "red" and the first suggestion is "Redmond, WA, USA".
The suggestions are helpful if you want to type a complicated name like Eyjafjallajökull and you only remember the first letters, but Google doesn't do a great job at ranking the list of suggestions.
The autocomplete feature from Google Maps is the first implementation of Google Suggest that uses HTTPS. Google Maps continues to show personalized suggestions from Google Web History, a feature that has replaced Saved Locations.