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

Simultaneous Localization and Mapping Technology Market in 3D motion segment is projected to grow at the fastest rate over the forecast timespan. The 3D technology is rapidly being adopted by various applications including AR, UAV, and robotics. With an increase in the adoption of handheld devices, the Handheld Augmented Reality (HAR) introduces AR to numerous consumers. These devices lack the potential to get the precise 3D positioning of the objects as they are unable to correctly map the 3D environment. The usage of SLAM enables exact 3D positioning of virtual objects to the actual environment with improved efficiency and reduced time, accelerating its demand in the market.

Global Simultaneous Localization and Mapping (SLAM) Technology Market was estimated to be over USD 56 million in 2017 and is set to exceed USD 2 billion by 2024; according to a new research report by Global Market Insights, Inc. The rising technological developments and growing awareness regarding the benefits offered by the SLAM technology are primarily driving the market demand. Over the past five years, leading technology companies, such as Google, Facebook, and Amazon, have made significant investments in SLAM technology to indulge into various business expansion strategies such as new product developments and mergers & acquisitions.

Request for a sample of this research report @ www.gminsights.com/request-sample/detail/2928

Numerous mapping technologies, such as marker-based tracking and GPS, are used in various sectors including military, agriculture & forestry, and other commercial sectors. However, these technologies do not work efficiently indoors and even in certain outdoor locations that lack a clear view of the sky. To overcome these drawbacks, companies are now adopting the SLAM technology that works efficiently indoors as well as in urban environments and provides high accuracy. The SLAM technology uses various types of sensors including tactile sensors, image sensors, and LiDAR to develop a map of a space along with determining the location of the device within that space. The other benefits offered by the SLAM technology include easy navigation without reliance on external technologies and real-time formation of 3D maps with reduced cost & power requirements, driving the simultaneous localization and mapping technology market growth.

The prominence of mapping technologies in domestic service robots is growing rapidly as these robots can move smoothly across the tighter and denser spaces in the house. The growing standard of living, rising urbanization, increase in the disposable income, and the aging population are the leading factors enhancing the adoption of domestic robots especially in urban areas. There has been a substantial growth in the demand for domestic robots with around five million units shipped in 2015, which is projected to cross approximately 11.5 million units by 2020. The traditional robots witnessed the issue of navigation especially in the unknown environment, resulting in the robots bumping into the house walls.

Therefore, the inclusion of SLAM for navigation and obstacle avoidance in domestic robots is evolving rapidly. Various companies operating in this segment have launched SLAM-based domestic robots to carry out household chores efficiently with cost effectivity. Neato Robotics, a robotics company in the U.S., launched Neato Botvac, a home robot vacuum. This intelligent robot makes use of SLAM technology to navigate the house for cleaning floors. The company makes this product available to the customers at affordable prices, increasing its adoption rate.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Apple
2. Facebook
3. Google
4. KUKA Robotics
5. Microsoft
6. Omron Automation – Americas
7. Parrot
8. Clearpath Inc.
9. Fetch Robotics
10. GeoSLAM Ltd
11. NavVis, Skydio, Aethon

Make an inquiry for buying this report @ www.gminsights.com/inquiry-before-buying/2928

Growth Drivers:

• Growth in automation across varied industries
• Minimal hardware requirement with enhanced accuracy
• Increasing demand from a varied range of industries
• Rising prominence of mapping technologies in domestic robots
• Enhanced adoption of UAV application

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. The existing image guidance systems have limited functionality with certain restraints, such as inaccuracy and inefficiency, to convey all the available information. The adoption of SLAM technology in the medical systems enhances their accuracy in estimating dynamic information and gives precise inferences of deformation during surgeries.

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. This innovation will render humans from emptying trash bins as the bins will automatically leave their place to be emptied during their pickup time. These robots use the SLAM technology to avoid obstacles and automatically navigate toward the truck on its arrival.

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 Apple, Clearpath Inc., Facebook, Aethon, Fetch Robotics, GeoSLAM Ltd, Google, KUKA Robotics, Microsoft, NavVis, Omron Automation - Americas, Parrot, Skydio, Wikitude, Ascending Technologies | A Part of Intel, DIBOTICS, Inkonova AB (We're Hiring!), and Kudan.

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 detail along with the table of contents:

https://www.gminsights.com/industry-analysis/simultaneous-localization-and-mapping-slam-technology-market

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:https://www.gminsights.com

This release was published on openPR.