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Simultaneous Localization and Mapping Technology Market Forecasts By Key Industry Players: Fetch Robotics, NavVis, GeoSLAM Ltd, Omron Automation – Americas, Apple, Facebook, Google, Microsoft, KUKA AG, Clearpath Inc.

10-18-2018 10:44 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Simultaneous Localization and Mapping (SLAM) Technology Market

Simultaneous Localization and Mapping (SLAM) Technology Market

According to a new research report by Global Market Insights, Inc., Simultaneous Localization and Mapping (SLAM) Technology Market is projected to surpass USD 2 billion by 2024. The rapid technological developments, industrialization, and urbanization have resulted in a massive transformation in the business functioning. Internet of Things (IoT), robotics, AR, and other technologies have automated processes, leading to the establishment of new businesses.

With an increased adoption of automation in various industries, there is a corresponding increase in the demand for advanced technologies, which had led to the acceptance of SLAM technology solutions. SLAM technology can replace the GPS navigation and tracking in certain applications, especially in indoor locations or big cities with an obstructed sky view. The technology takes precise measurements of the physical environment, accelerating the SLAM technology market growth.

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The robot platform dominates the simultaneous localization and mapping technology market and held around 94.7% of the market share in 2017. These robots perform complex tasks that need navigation in dynamic and intricate indoor and outdoor surroundings without any human support. With the integration of SLAM technology, the robots have become technologically advanced, offering precise and flexible solutions, making them a preferred choice for a wide range of applications. These include military services, car production, space exploration, remote & invasive surgery, underwater exploration, fixing oil spills, investigating hazardous environments, and commercializing agriculture.

Simultaneous localization and mapping technology market in autonomous vehicles segment is anticipated to grow at the fastest rate over the forecast period. Autonomous driving involves various critical tasks, such as navigation, planning, and collision avoidance, which cannot be fulfilled by sparse map representations. To obtain dense maps, SLAM technology has been used to produce highly accurate maps. Google’s driverless cars employ the SLAM technology that uses roof-mounted LiDAR sensors for creating a 3D map of their surroundings. This is done by the system within 10 seconds as a quick response is necessary since the machine being tracked is moving with high speed and acceleration.

The manufacturing and logistics segments in the simultaneous localization and mapping technology market are projected to grow at a CAGR of 72.8 percent over the forecast timespan. The integration of SLAM into an automatic guided vehicle within a manufacturing system assists in pick & place tasks, allowing the automated guided vehicle to pick and deliver products with the manufacturing system. Furthermore, extensive R&D activities are going on in this field to develop innovative SLAM-based manufacturing applications, enhancing its capability and functionality features.

The commercial sector dominates the global simultaneous localization and mapping technology market with an industry revenue of USD 22.2 million in 2017 anticipated to reach USD 933.4 million by 2024. Various industries using the SLAM technology include healthcare, hospitality, construction, service, education, automotive, retail, and wholesale departments. The healthcare department requires image guidance systems for performing critical surgeries. These systems must be capable of displaying a detailed computer-based 3D visualization that enables the surgeon to rotate the 3D model on the computer for gaining an enhanced understanding of the location of the robot with respect to the anatomical target.

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The Asia Pacific simultaneous localization and mapping technology market is anticipated to grow at the fastest rate due to the presence of a large number of electronics and automotive industries with low manufacturing cost units. The increasing demand for automation in various sectors including healthcare, manufacturing, logistics, and agriculture and the rising aging population also contribute to the market growth.

North America dominates the global simultaneous localization and mapping technology market with an industry share of 50.5% in 2017. The major factor contributing to the growth include the presence of several drone manufacturers in this region. Being home to some of the leading SLAM solution providers including Apple and Google, the region is presenting new growth prospects for advanced adoption of the SLAM technology. The companies functioning in this region are also involved in new product development strategies for expanding their presence in the highly lucrative market.

Market expansion and new product developments are the main strategies adopted by the enterprises operating in the simultaneous localization and mapping technology market. The prominent companies functioning in the industry include Google, Facebook, Apple, Parrot SA, Kuka AG, Microsoft Corporation, SMP Robotics, Wikitude, GeoSLAM Ltd., Kudan, Clearpath Robotics, Inc., DIBOTICS, Aethon, Fetch Robotics, Ascending Technologies GmbH and NavVis.

Browse key industry insights spread across 200 pages with 328 market data tables & 36 figures & charts from the report, Simultaneous Localization and Mapping (SLAM) Technology Market in detail along with the table of contents:

https://bit.ly/2IL0ypq

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

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