Overview and Scope
Simultaneous localization and mapping (SLAM) is a technique used in robotics and computer vision to construct a map of an unknown environment while simultaneously tracking the location within that environment. This is useful in scenarios where GPS or other external localization methods are unavailable or unreliable, such as indoor environments or in situations where high precision is required.
Sizing and Forecast
The simultaneous localization and mapping technology market size has grown exponentially in recent years. It will grow from $0.38 billion in 2023 to $0.55 billion in 2024 at a compound annual growth rate (CAGR) of 44.9%. The growth in the historic period can be attributed to the rising adoption of autonomous vehicles, the increasing focus of the automobile industry, the increasing application of SLAM in augmented reality (AR), the rising demand for self-locating robotics in homes and enterprises, and the and the increasing demand for advanced technologies.
The simultaneous localization and mapping technology market size is expected to see exponential growth in the next few years. It will grow to $2.45 billion in 2028 at a compound annual growth rate (CAGR) of 45.1%. The growth in the forecast period can be attributed to increasing demand for unmanned aerial vehicles, growing demand for robots, demand for autonomous navigation and mapping solutions, the increasing adoption of SLAM technology in the industrial sector, and increasing demand for advanced technologies. Major trends in the forecast period include advanced sensor technologies, favorable government initiatives, the latest immersive AR and VR experiences, supportive regulatory frameworks, and high consumer acceptance of emerging technologies.
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The simultaneous localization and mapping technology market covered in this report is segmented –
1) By Type: Extended Kalman Filter (EKF), Fast, Graph-Based, Other Types
2) By Offering: Two-Dimensional (2D), Three-Dimensional (3D)
3) By Application: Unmanned Aerial Vehicle (UAV) And Robots, Augmented Reality (AR) And Virtual Reality (VR), Autonomous Vehicles, Other Applications
4) By End User: Commercial, Military, Agriculture And Forestry, Mining, Automotive, Manufacturing And Logistics, Household Appliance
North America was the largest region in the simultaneous localization and mapping technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the simultaneous localization and mapping technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for unmanned aerial vehicles is expected to propel the growth of the simultaneous localization and mapping technology market going forward. Unmanned aerial vehicles (UAVs) are aircraft operated without a human pilot onboard. THE UAVs are being used in various applications, including aerial photography and videography, agriculture, construction, infrastructure inspection, environmental monitoring, search and rescue, disaster response, surveillance, and law enforcement. Simultaneous localization and mapping (SLAM) technology is used to navigate autonomously by creating real-time maps of their surroundings and accurately determining their position. This enables UAVs to perform precision and efficiency in aerial surveying, inspection, and surveillance. For instance, in June 2022, the Federal Aviation Administration (FAA), a US-based civil aviation organization, anticipated that the US commercial drone sector would include approximately 589,000 small drones in 2021, a growth rate exceeding 21% over 2020. Therefore, the increasing demand for unmanned aerial vehicles is driving the growth of the simultaneous localization and mapping technology market.
Key Industry Players
Major companies operating in the simultaneous localization and mapping technology market report are Samsung Electronics Co. Ltd.; Microsoft Corporation; Meta Technologies Inc.; Huawei Technologies Co. Ltd.; Hitachi Ltd.; LG Electronics Inc. ; Intel Corporation; Telefonaktiebolaget LM Ericsson; BAE Systems plc; NEC Corporation; Capgemini SE; Wipro Limited; Rockwell Automation Inc.; Tech Mahindra Ltd.; Intellias; Kudan Inc.; Skydio; Magic Leap Inc.; Locus Robotics Inc.; NavVis; Aethon Inc.; MAXST Co. Ltd.; Gestalt Robotics GmbH
The simultaneous localization and mapping technology market report table of contents includes:
1. Executive Summary
2. Simultaneous Localization And Mapping Technology Characteristics
3. Simultaneous Localization And Mapping Technology Trends And Strategies
4. Simultaneous Localization And Mapping Technology – Macro Economic Scenario
5. Global Simultaneous Localization And Mapping Technology Size and Growth
…..
32. Global Simultaneous Localization And Mapping Technology Competitive Benchmarking
33. Global Simultaneous Localization And Mapping Technology Competitive Dashboard
34. Key Mergers And Acquisitions In The Simultaneous Localization And Mapping Technology
35. Simultaneous Localization And Mapping Technology Future Outlook and Potential Analysis
36. Appendix
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