SLAM Technology Market Forecasts Report By Top Key Players like Google, KUKA Robotics, Microsoft, Omron Automation – Americas, Parrot, Facebook, Apple, Skydio, Fetch Robotics, GeoSLAM Ltd, Clearpath Inc., Wikitude

SLAM 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.

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SLAM 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.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Google
2. KUKA Robotics
3. Microsoft
4. Omron Automation – Americas
5. Parrot
6. Facebook
7. Apple
8. Skydio
9. Fetch Robotics
10. GeoSLAM Ltd
11. Clearpath Inc.
12. Wikitude

Simultaneous Localization and Mapping (SLAM) Technology Market size is set to exceed USD 2 billion to grow at a CAGR of over 71% from 2018 to 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.

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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.

The commercial sector dominates the global SLAM 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.

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Europe held around 29.4% of the market share in 2017 in the global SLAM technology market. The major features contributing to the growth in this region include the rising adoption of robots and UAVs in a magnitude of applications across the region. The deployment of user-friendly automation and technological advancements in the robotics field also contribute to the simultaneous localization and mapping technology market growth. This region also showcases various growth opportunities, leading to global companies expanding their businesses in this region.

North America dominates the global SLAM 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.

Some of the leading vendors functioning in the SLAM technology market are 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.

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