Published: June 2020 | Report Code: IM12045 | Available Format: PDF | Pages: 165
Valued at $152.2 million in 2019, the global simultaneous localization and mapping (SLAM) technology market is projected to witness a CAGR of 38.3% during the forecast period (2020–2030). Emergence of autonomous vehicles, increasing number of augmented reality (AR) applications, and rising adoption of unmanned aerial vehicles (UAVs) are some of the key growth factors driving the market.
In 2019, the 2D category accounted for larger market size in the SLAM technology industry, on the basis of offering. This is due to the increasing use of 2D technology in industrial robots and household robots for location mapping. 2D technology is based on RGB-D mapping, which allows robots to take advantage of RGB and depth information coming from Kinect sensor for efficient location mapping.
The fast category, based on type, is projected to witness the fastest growth in the SLAM technology market, during the forecast period. The major advantage of fast SLAM is that it can factorize full posterior distribution into a product of landmark distributions and a vehicle path distribution, which can offer accurate location mapping. With the growing demand for 3D environment mapping, the demand for fast SLAM technology is increasing, owing to its higher capability to map a 3D real environment, effectively.
In 2019, the robotics category accounted for the largest revenue share in the SLAM technology market, on the basis of application. This is due to extensive deployment of SLAM technology in robots for accurate indoor and outdoor location mapping for several purposes, including manufacturing, assembly and packing, transport, earth and space exploration, surgery, weaponry, and laboratory research. SLAM technology-based advanced autonomous robots can optimize their paths and processes in several industries, react to unexpected situations, and navigate around obstacles efficiently.
The commercial category, based on end user, is projected to witness the fastest growth in the SLAM technology market, during the forecast period. This can be primarily due to the constant developments in microelectronics, wireless communications technologies, global positioning system (GPS) navigation systems, and AR & VR devices.
In 2019, North America held the largest share in the SLAM technology market. Increasing investments on robotics, rising AR applications, and presence of a large number of market players are some of the key factors supporting the growth of the industry in the region. Moreover, increasing disposable income and inclination toward technology are the major factors increasing the adoption of automated household appliances, such as vacuum cleaners and lawn mowers, in the region.
The APAC SLAM technology market is projected to record the fastest growth during the forecast period. Increasing digitalization, growing penetration of UAVs, and increasing AR applications are some of the key factors supporting the growth of the regional market. Further, rising household spending on technologies is also supporting the growth of the industry in the region.
Advancement in visual SLAM is a key trend observed in the SLAM technology market. Visual SLAM is quickly becoming an important development in embedded vision with several applications. Visual SLAM is a specific type of SLAM system that leverages 3D vision to perform location and mapping functions. Presently, visual SLAM technology is used in a wide range of applications from AR to field robots. For instance, in AR applications, accurate projection of virtual images onto the physical world requires a precise mapping of the physical environment, and visual SLAM technology is capable of providing this level of accuracy.
Emergence of autonomous vehicles is one of the key factors supporting the growth of the SLAM technology market across the globe. Growth in connected vehicle technology and need for safe, productive, and efficient driving options in several countries are driving the demand for autonomous vehicles, globally. Autonomous cars have the potential to reduce deaths and injuries from car crashes, owing to their advanced sensing capabilities. In addition, autonomous vehicles also offer reduced CO2 emissions and consume less fuel, which are further increasing the popularity of these vehicles among populace.
Increasing number of AR application across all verticals is further supporting the growth of the SLAM technology market, worldwide. Presently, AR has large application areas, ranging from healthcare to industrial development. For instance, AR is used in the healthcare industry for several purposes, including vein visualization, surgery, 3D medical imaging, and training. SLAM is a core technology that plays an important role in AR applications. SLAM technology is required to recognize the surrounding environment, which makes it possible for AR devices to recognize 3D objects and scenes, as well as to instantly track the world, and to overlay digital interactive augmentations.
|Base Year (2019) Market Size||$152.2 million|
|Forecast Period (2020-2030) CAGR||38.3%|
|Report Coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Company Share Analysis, Companies’ Strategical Developments, Product Benchmarking, Company Profiling|
|Market Size by Segments||By Offering, By Type, By Application, By End User, By Region|
|Market Size of Geographies||U.S., Canada, Germany, France, Italy, U.K., Spain, Japan, China, India, Australia, South Korea, Brazil, Mexico, Turkey, Saudi Arabia, U.A.E., and South Africa|
|Secondary Sources and References (Partial List)||Association for Advancing Automation, Augmented Reality for Enterprise Alliance, Association for Unmanned Vehicle Systems International, National Agricultural Aviation Association, Commercial Drone Alliance|
Increasing usage of UAVs for several purposes is another factor that is fueling the demand for SLAM technology. For instance, in defense, UAVs are used for reconnaissance, surveillance, intruder detection, and location mapping; whereas, in agriculture, these are used for crop spraying and livestock monitoring. Moreover, UAVs are also used for pedestrian traffic monitoring, geomagnetic surveys, filmmaking, aircraft maintenance, and several other purposes. Such factors are contributing to the growth of the SLAM technology market.
The global SLAM technology market is highly competitive in nature, due to presence of a large number of companies. Some of the major players in the sector include Apple Inc., Mobile Industrial Robots A/S, Clearpath Robotics Inc., and Google LLC.
In recent years, players in the industry have launched a number of new and advanced products, in order to stay ahead of their competitors. For instance:
The SLAM technology market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Offering
Based on Type
Based on Application
Based on End User
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws