Simultaneous Localization and Mapping (SLAM) Technology Market Set to Register Robust CAGR During 2019-2024 | Kuka AG, Parrot SA, Google, Facebook, Microsoft Corporation, Apple, SMP Robotics

The manufacturing and logistics segments in the simultaneous localization and mapping (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.

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The 2D motion segment dominated the simultaneous localization and mapping (SLAM) technology market in 2017. 2D motion is being widely used in robot mapping technologies but is unable to produce 3D information. Landmarks not falling within their measurement plane cannot be observed, leading to a growth in the demand for 3D motion SLAM. In 2014, Google introduced Cartographer for performing real-time SLAM in 2D and 3D across numerous platforms and sensor configurations. The cartographer is used in a large number of applications from mapping transit hubs and museums to enabling new visualizations of buildings, expanding its use in the Simultaneous Localization and Mapping (SLAM) Technology Market.

The autonomous vehicle platform segment is anticipated to grow at the fastest rate in the simultaneous localization and mapping (SLAM) technology market. 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 simultaneous localization and mapping (SLAM) technology market.

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 simultaneous localization and mapping (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.

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With many such mines being explored to fulfil the global requirement of essential minerals like copper, gold, silver, coal and uranium, the Simultaneous Localization and Mapping (SLAM) Technology Market could establish a strong hold due to the need for safe mapping of underground mines as well as open quarries. Increasing production of consumer electronics has elevated the demand for minerals like silver, strengthening the global mining industry. The simultaneous localization and mapping (SLAM) technology market is expected to grow at a CAGR of 71% over 2018-2024, influenced by the rising need for mitigating safety risks and improving bottom lines.

Glimpse of Table of Content (ToC)

Chapter 3. Simultaneous Localization and Mapping (SLAM) Technology Market Insights
3.1. Introduction
3.2. SLAM technology industry segmentation
3.3. SLAM technology industry landscape, 2015 - 2024
3.4. SLAM technology industry ecosystem analysis
3.5. SLAM technology industry evolution
3.6. SLAM technology techniques
3.7. SLAM technology industry architecture
3.8. Regulatory landscape
3.8.1. Federal Aviation Administration (FAA)
3.8.2. Robotic Industries Association (RIA)
3.8.3. Unmanned Aerial Vehicle Systems Association
3.8.4. U.S. Association for Unmanned Aerial Vehicle (UAVUS)
3.8.5. South African Civil Aviation Authority
3.8.6. Dubai Civil Aviation Authority
3.8.7. Civil Aviation Authority of Singapore
3.8.8. Unmanned Systems Association of India
3.9. Technology & innovation landscape
3.9.1. Cloud computing
3.9.2. Monocular SLAM
3.10. Industry impact forces
3.10.1. Growth drivers
3.10.1.1. Growth in automation across varied industries
3.10.1.2. Minimal hardware requirement with enhanced accuracy
3.10.1.3. Increasing demand from a varied range of industries
3.10.1.4. Rising prominence of mapping technologies in domestic robots
3.10.1.5. Enhanced adoption of UAV application
3.10.2. Simultaneous Localization and Mapping (SLAM) Technology Market pitfalls & challenges
3.10.2.1. Huge initial investment
3.10.2.2. Increasing safety concerns
3.10.2.3. Technical complexities
3.11. Growth potential analysis
3.12. Porter's analysis
3.13. PESTEL analysis

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