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

03-12-2019 07:43 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

(SLAM) Simultaneous Localization and Mapping Technology Market

(SLAM) Simultaneous Localization and Mapping Technology Market

(SLAM) Simultaneous Localization and Mapping Technology Market is set to exceed USD 2 billion and is anticipated to grow at a CAGR of over 71% from 2018 to 2024. 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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(SLAM) 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.

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

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

North America dominates the global (SLAM) 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.

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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. For instance, in January 2018, Lyft opened its office in Germany and it was the company’s first official European expansion. This hub will focus on developing self-driving cars using the SLAM technology.

The Asia Pacific simultaneous localization and mapping technology market is growing at the fastest pace and is projected to grow at a CAGR of 80.2% over the forecast timeline. The major factors driving the (SLAM)
simultaneous localization and mapping technology market growth in this region include the growing demand for automation, mainly in the manufacturing sector. Moreover, the growth of smart devices along with the rising demand for enhanced features has also propelled the market growth. China dominates the Asia Pacific SLAM technology market, followed by Japan and South Korea.

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.

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

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.

Market expansion and new product developments are the main strategies adopted by the enterprises operating in the (SLAM) 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.

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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.

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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
Blog: www.industry-source.org

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