Simultaneous Localization and Mapping (SLAM) Market: Global Industry and Forecast 2023-2029

Simultaneous Localization and Mapping (SLAM) Market is expected to grow at a CAGR of 48.76 % over the forecast period 2023-2029, to account for US$ 4469.06 Mn. in 2029. The 3D SLAM is one of the segments reviewed in the MMR report dominating the Simultaneous Localization and Mapping (SLAM) Market.
Simultaneous Localization and Mapping (SLAM) Market Overview & Dynamics:
Simultaneous localization and mapping (SLAM) is the process of building a map while navigating the environment with the help of an autonomous vehicle or a robot. A system used in robotic cartography or robot mapping is simultaneous localization and mapping. To navigate, this mechanism employs a complicated set of computations, algorithms, and sensory inputs.

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Market Growth is fuelled by the Emergence of Autonomous Vehicles and the Rising Number of AR Applications:

One of the major factors driving the global SLAM market is the introduction of autonomous vehicles. The need for autonomous vehicles is increasing as connected vehicle technology advances and the necessity for safe, productive, and economical driving solutions grows. These vehicles emit less CO2 emissions and use less gasoline, increasing their popularity among the general public. These vehicles have an inertial navigation system, a variety of sensors, a laser rangefinder, SLAM technology, and a radar, which allow them to sense and navigate their surroundings. The implementation of SLAM technology in the automobile industry will increase as demand for autonomous vehicles grows.

Visual SLAM Advancement Is a Major Market Trend:

Visual SLAM advancement is a prominent trend in the global SLAM market. With a variety of applications, visual SLAM is soon becoming an essential development in embedded vision. It's a type of SLAM system that uses 3D vision to conduct mapping and locating operations. This technology is being employed in a wide range of applications from AR to field robots, thanks to major increases in computer processing speed and the availability of low-cost sensors like cameras and laser rangefinders.

Hampering Factor for Simultaneous Localization and Mapping (SLAM) Market:

Rising limitations of SLAM in dynamic contexts, as well as increasing unpredictable performance and dependability in untested environments, are among the primary factors that will restrict market growth. The SLAM technique is linked to problems like addressing the loop closure problem using visual information in life-long scenarios that are affected by dynamic components like illumination, weather, or seasons. Furthermore, the algorithms used in these environments are time-consuming and inefficient, resulting in their use in limited environments, which can stifle market expansion.
Simultaneous Localization and Mapping (SLAM) Market Segmentation:
Simultaneous Localization and Mapping (SLAM) Market is segmented into Type, Offering, and Application. The MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the Simultaneous Localization and Mapping (SLAM) Market size.

The 3D SLAM Segment is expected to Account for the Largest Market Share By 2029.

Based on the Offering, 3D SLAM segment is expected to grow at a CAGR of 49.5% over the forecast period. The demand for 3D motion SLAM is rapidly expanding because to the rapid expansion of the AR and autonomous car industries. Companies are forming strategic alliances to give better solution capability in order to address expanding client expectations.



UAV Segment is projected to dominate the Market during the Forecast Period.

By Application, UAV segment dominated the market, with projected to grow at the highest CAGR of xx% during 2022-2029. UAVs have rapidly become popular for real-time mapping, monitoring, and assessment in a variety of applications, including surveillance, building inspection, search and rescue operations, aerial photography, precise crop monitoring, and disaster relief supplies. Many suppliers are increasing their UAV products to include industries with hazardous work situations where SLAM-based UAVs can operate independently. Terra Drone Corporation of Japan, for example, has inked an investment agreement with Unmanned Aerial Services Incorporated UAS Inc to develop Terra Drone Mining, a new company in Canada that will provide unmanned mapping & inspection services to underground mines.

North America is an Emerging Market:

Geographically, North America Market valued US$ xx Mn. in 2022 and is expected to reach a value of US$ xx Mn. by 2029, with a CAGR of xx% during 2022-2029. This is growth is attributed to the region's high concentration of commercial and non-commercial drone camera makers. Thanks to an increase in demand for robots across various industries, Europe is expected to hold the largest share of the worldwide simultaneous localization and mapping market during the forecast period. Because of the rise of the automobile sector in rising countries such as India, China, and others in the region, the simultaneous localization and mapping market in Asia Pacific is likely to grow rapidly in the near future. Due to advancements in mapping technologies in domestic robot applications, the simultaneous localization and mapping market in South America and the MEA is expected to grow at a moderate rate.
Key Development:
In recent years, major players in the SLAM market have taken several strategic measures, such as facility expansions and partnerships. Such as,

• In May 2022, Intel, one of the world's leading technology corporations, has announced a partnership with Semtech, a semiconductor hardware and software company, to develop optical semiconductor platforms for LiDAR. Semtech's laser drivers and programmable trans-impedance amplifiers will be included into Intel's RealSense LiDAR Camera L515, allowing for the creation of power-efficient, high-resolution consumer LiDAR, according to the agreement.

• In February 2022, Facebook Inc. acquired an unspecified amount for Scape Technologies, a visual positioning service provider based in the United Kingdom. The former hoped to add value to its next-generation platforms, such as virtual reality (VR) and augmented reality (AR), with this acquisition.

The objective of the report is to present a comprehensive analysis of the global Simultaneous Localization and Mapping (SLAM) Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Simultaneous Localization and Mapping (SLAM) Market dynamic, structure by analyzing the market segments and projecting the Simultaneous Localization and Mapping (SLAM) Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Simultaneous Localization and Mapping (SLAM) Market make the report investor’s guide.
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Simultaneous Localization and Mapping (SLAM)l Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US$ 277.21 Mn.


Forecast Period 2023 to 2029 CAGR:
48.76%
Market Size in 2029:
US$ 4469.06 Mn.


 Segments Covered:
by Type
• EKF SLAM
• Fast SLAM
• Graph-Based SLAM
• Others


by Offering
• 2D SLAM
• 3D SLAM


by Application
• Robotics
• UAV
• AR/VR
• Automotive
• Other



Simultaneous Localization and Mapping (SLAM) Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Global Simultaneous Localization and Mapping (SLAM) Market Key Players are:
• Alphabet
• Amazon Robotics
• Apple
• Microsoft
• Clearpath Robotics
• Aethon
• The Hi-Tech Robotic Systemz
• Facebook
• Intellias
• MAXST
• Intel
• Magic Leap
• Rethink Robotics
• Skydio
• NavVis
• Mobile Industrial Robot Aps

Frequently Asked Questions:

1] What segments are covered in the Simultaneous Localization and Mapping (SLAM) Market report?
Ans. The segments covered in the Simultaneous Localization and Mapping (SLAM) Market report are based on Offering, Type, and Application.

2] Which region is expected to hold the highest share in the Simultaneous Localization and Mapping (SLAM) Market?
Ans. North America region is expected to hold the highest share in the Simultaneous Localization and Mapping (SLAM) Market.

3] What is the market size of the Simultaneous Localization and Mapping (SLAM) Market by 2029?
Ans. The market size of the Simultaneous Localization and Mapping (SLAM) Market by 2029 is US$ 4469.06 Mn.

4] What is the forecast period for the Simultaneous Localization and Mapping (SLAM) Market?
Ans. The forecast period for the Simultaneous Localization and Mapping (SLAM) Market is 2023-2029.

5] What was the market size of the Simultaneous Localization and Mapping (SLAM) Market in 2022?
Ans. The market size of the Simultaneous Localization and Mapping (SLAM) Market in 2022 was US$ 277.21 Mn.