Rise in UAV applications of the SLAM technology, coupled with the rising adoption of the mapping technology, is boosting the global industry growth.
The global SLAM technology market is expected to be valued at USD 1,829.4 Million in 2027 from USD 149.6 Million in 2019, registering a CAGR of 38.5% through the forecast period. Simultaneous localization and mapping (SLAM) involves generating a map with the assistance of a robot or unmanned vehicle. The robot navigates the surrounding location while creating the map to identify obstacles and overcome unexpected situations efficiently. The SLAM technique forms the base of robot mapping, also known as robotic cartography. SLAM algorithms find profound application in robotic mapping, navigation, and odometry for AR (augmented reality) and VR (virtual reality). Moreover, the SLAM technology is extensively employed in unmanned aerial vehicles (UAVs), self-driving cars, autonomous underwater vehicles, domestic robots, planetary rovers, and in some cases, inside the human body.
The global SLAM technology market is predicted to grow at a significantly high pace over the next few years. The market growth is mainly accelerated by the rising significance of SLAM in VR and AR, technological innovations in visual SLAM algorithms, and the growing adoption of artificial intelligence (AI) and robotics, especially in the emerging economies. The increasing implementation of cloud technology, growing domestic, commercial, and industrial uses of self-locating robots, increasing usage of self-driving cars and UAVs, and rise in disposable incomes of people, mainly in developed countries, are the other critical factors influencing the global market growth.
The extensive deployment of robots and autonomous/unmanned systems in several areas, such as transportation, packaging, manufacturing, medical surgeries, laboratory research, military & defense, and space exploration, is a crucial factor propelling the growth of the global SLAM technology market. In addition, the surging demand for industrial automation, growing adoption of GPS (global positioning system) navigation systems, and escalating demand for automated home appliances, such as robotic vacuum cleaners, create numerous prospects for global market growth in the near future.
Key Highlights from the Report:
- The 2D sub-segment is expected to account for the largest market share over the estimated period based on the offering. The growing deployment of the SLAM technology in industrial robots and autonomous vehicles is a pivotal factor driving the segmental growth.
- In terms of application, the robotics sub-segment is predicted to attain the highest market revenue, registering a significant CAGR of 38.6% over the forecast timeframe. Moreover, the commercial sector is the leading end-user segment, with the largest market share. The emergence of microelectronics, the rising adoption of wireless communication technologies, and the surging use of AR & VR technologies in the commercial sector are the most vital factors driving the growth of this segment.
- Of the key regional segments of the global SLAM technology market, North America is projected to emerge as the most dominant market, retaining the highest revenue share. The rising adoption of SLAM technology for industrial automation, increasing technological advances in SLAM, increasing residential and commercial applications of AR and VR, and huge investments in robotics are the primary factors propelling the regional market growth.
- Key industry participants include Alphabet Inc., Apple Inc., Microsoft Corporation, Amazon Robotics (Kiva Systems), Facebook, Inc., Aethon Inc., Intel Corporation, Fetch Robotics, Inc., Clearpath Robotics, Inc., and Skydio, Inc.
Emergen Research has segmented the global SLAM technology market on the basis of type, offering, application, end-use industry, and region:
By Type (Revenue, USD Million; 2017-2027)
- Extended Kalman Filter
By Offering (Revenue, USD Million; 2017-2027)
By Application (Revenue, USD Million; 2017-2027)
- Autonomous Vehicles
- Virtual Reality (VR)
- Augmented Reality (AR)
By End-use Industry (Revenue, USD Million; 2017-2027)
By Region (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
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