Global SLAM Technology Market to Top USD 13, 331 Million By 2027

Facts and Factors Market Research has published a new report titled "SLAM Technology Market By Platform (Augmented Reality, Unmanned Aerial Vehicle (UAV), Autonomous Vehicles, and Robot) and By End-User (Commercial, Retail, Household, Manufacturing & Logistics, and Military): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 - 2027". According to the report, the global SLAM technology market was valued at approximately USD 135 million in 2018 and is expected to reach a value of around USD 13,331 million by 2027, at a CAGR of around 66.5 % between 2019 and 2027.

SLAM or simultaneous localization and mapping comprise of simultaneous approximation of the condition of a robot that is fitted with on-board sensors and map construction for an environment that sensors experience. It finds myriad application in computer vision systems that receive visual data from the physical world with assistance from many sensors deployed in the equipment. The technology transforms the data in a different form and makes it easy for a machine to interpret the information through different visual points. SLAM technology finds a plethora of applications in indoor tools like robots, augmented reality, and unmanned aerial vehicles. It also finds lucrative applications in self-driven vehicles.

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Escalating use of SLAM technology in the automotive sector to steer the market growth

The massive demand for SLAM technology in self-driven cars is anticipated to steer the growth of the SLAM technology market over the forecast period. For instance, the autonomous cars manufactured by Google make use of SLAM technology.

Furthermore, the utilization of SLAM in drones will add value to innovative technologies and create a lucrative avenue for the market in the automotive industry. Apart from this, the escalating use of the technology in augmented reality due to its applications for identifying 3D objects will boost the market trends. Nonetheless, the availability of restricted bandwidth will hinder the market expansion over the forecast period. However, the need for upgrading the unmanned air vehicle will create lucrative avenues for the market over the forecast period. The new vehicles are likely to enhance the surveillance, navigation, and inter-vehicle communication due to acceptance of SLAM technology.

Augmented Reality to lead the platform segment over the forecast period

The growth of the segment is due to massive usage of SLAM technology in coining of algorithms intended at solving simultaneous localization & mapping issues in the development of augmented reality kits.

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Commercial segment to contribute majorly towards the overall market revenue share by 2027

The constant breakthroughs in microelectronics, GPS navigating systems, and wireless communications technologies is likely to steer the demand for SLAM technology in the commercial segment.

North America to contribute majorly towards the overall regional market revenue share by 2027

The market in North America is set to accrue massive revenue gains over the forecast period. The regional market growth is due to the large-scale acceptance of technologically advanced products along with massive awareness of SLAM technology in the region. Moreover, humungous presence of industry behemoths along with growing partnerships between firms to create new products will further steer the regional market expansion.

Furthermore, the huge presence of SLAM-based UAV sense & avoid systems producers in the countries like the U.S. for commercial as well as the non-commercial purpose will drive the growth of the industry in North America. Additionally, high expenditure on augmented reality technology in countries like the U.S. will propel the regional market growth.

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The key players included in this market are Apple Inc., Google LLC, Morpho, Inc., Dibotics, KUKA AG, Clearpath Robotics Inc., Gestalt Robotics GmbH, Wikitude GmbH, Slamcore LTD, GeoSLAM, Fetch Robotics, Inc., and Navvis.

This report segments the SLAM technology market as follows:

Global SLAM Technology Market: By Platform Segment Analysis

Augmented Reality
Unmanned Aerial Vehicle (UAV)
Autonomous Vehicles
Robot

Global SLAM Technology Market: By End-User Segment Analysis

Commercial
Retail
Household
Manufacturing & Logistics
Military

Global SLAM Technology Market: Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa

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