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SLAM Technology Market to showcase significant growth from autonomous vehicle platform segment | | Key Players are Facebook, Google, KUKA Robotics, Microsoft, Parrot, Fetch Robotics, GeoSLAM Ltd, NavVis, Skydio, Aethon, Apple

05-17-2019 09:15 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

SLAM Technology Market

SLAM Technology Market

SLAM Technology Market in autonomous vehicle platform segment is anticipated to grow at the fastest rate in the coming years. The car makers and technology companies are together working toward improving the reliability and mechanics of self-driving vehicles. Various companies are investing in the autonomous vehicle industry to meet the growing customer safety requirements. For instance, in November 2017, Arbe Robotics, an Israel-based startup raised a funding of USD 9 million for building high-resolution radars, offering enhanced safety features to the autonomous cars. This radar works efficiently regardless of the exterior conditions, providing accurate vision to the autonomous vehicle. Along with the radar, the company uses SLAM algorithm, providing improved target separation, enhanced resolution, and removal of false alarms, expanding its adoption rate in the SLAM technology industry.

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The robot platform dominates the SLAM 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. For instance, the SLAM-based surgery robots conduct invasive surgeries by navigating inside or outside the patient?s body to discover the problem. They also have a great opportunity in image-guided surgeries within a static environment.

Growing automotive and manufacturing segments have not only deployed collaborative robots that assist in assembling products but also autonomous robots that roam factory floors and have to face a number of human and stationary obstacles during operations. The need for accurately handling objects and moving across the floor has brought the SLAM technology industry into limelight. Various tech firms have cropped up throughout the world, developing more precise mapping solutions to complement existing and new localization systems. These can be incorporated within robots for purposes like surveying and moving objects from one place to another on congested surroundings. Increasingly declining costs of manufacturing robots will certainly boost their presence in several industry verticals, presenting tremendous growth opportunities for the SLAM technology 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

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The manufacturing and logistics segments in the SLAM 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 advent of virtual and augmented reality has transformed the dynamics of SLAM technology market. A spate of end-users right from the automotive and aerospace to UAV manufacturers have been integrating SLAM technology in their autonomous systems on a large scale. In addition, technology companies like Google have also been involved in the deployment of SLAM technology. The capability of this technology to enhance the 3D vision of surroundings with the assistance of location and mapping function is poised to enhance the simultaneous localization & mapping technology industry share over the years ahead.

Benefitting from higher commodity prices, the top 40 mining companies globally had recorded earnings of nearly USD 496 billion in 2016, demonstrating the massive scale of mining activities and the potential to improve bottom lines. As old mines get exhausted, these companies are expected to start exploring new mines to keep the mineral supply flowing, indicating the possibility of significant expansion for the SLAM technology market. For instance, the Victoria Gold’s Eagle mine, under development in Canada, would become the biggest mine in the territory of Yukon with production anticipated to at 12.5 million tons per year across a 10-year life span. Further, the USD 2.9 billion South Flank iron ore mine in Australia being constructed by BHP is slated to commence production in 2021 and supply ore until at least 2046.

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 Asia Pacific SLAM 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. There is also an increase in the demand for the advanced robotics technology from SMEs for improving the production quality and efficiency, accelerating the SLAM technology adoption rate. Furthermore, with the increasing geopolitical tensions and a growing economy, the budget for the military is also increasing in this region, increasing the demand for advanced UAVs with a positive impact on the SLAM technology market growth.

The extensive use of software-assisted SLAM technology in drones and driverless cars is poised to fuel the simultaneous localization & mapping technology market trends over the years ahead. Taking into account the capability of this system to discover the complex obstacles in the absence of GPS, myriad countries have been deploying drones installed with SLAM technology for surveillance and protecting international borders. In addition, the growing preference for drones across mining and construction projects for the facility management, security, and mapping is slated to enhance the product demand. With the surging use of real-time 3D maps, SLAM technology market will surpass a revenue collection of USD 2 billion by the end of 2024.

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

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
Blog: www.industry-source.org

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