DUBLIN–(BUSINESS WIRE)–The “Simultaneous Localization and Mapping Technology Market Research Report: By Offering, Type, Application, End User – Industry Trends and Demand Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
SLAM technology market size is expected to grow to $3,747.8 million by 2030 from an estimated $157.5 million in 2021, at a monumental 42.2% CAGR between 2021 and 2030.
After witnessing a slump in 2020 due to the COVID-19 pandemic, the industry is now advancing as companies are focusing on boosting manufacturing and warehousing productivity and efficiency, in order to make up for the revenue lost due to the lockdowns.
This is because this technology allows robots, autonomous vehicles, drones, automatic forklifts, and robot cleaners to map the area around them and locate their destination themselves. To leverage these opportunities, technology vendors are incorporating advancements in visual SLAM, which uses the 3D technology for location and mapping.
For instance, visual SLAM makes the projection of virtual objects into the real-world environment in augmented reality (AR) applications more efficient.
The most-significant firms working on offering SLAM-technology-driven products are Intel Corporation, Apple Inc., Alphabet Inc., Microsoft Corporation, NavVis GmbH, Clearpath Robotics Inc., Parrot Drones SAS, MAXST Co. Ltd., Rethink Robotics GmbH , Hi-Tech Robotic Systemz Limited, and Aethon Inc. Apart from mergers, acquisitions, and collaborations, they are launching SLAM-integrated AR platforms, robots, and mobile mapping systems.
In the coming years, lucrative opportunities for all these simultaneous localization and mapping technology market players will arise in the Asia-Pacific region, which is undergoing rapid economic growth and technological advancements.
Moreover, the Industry 4.0 revolution, going on at full steam, is driving the demand for autonomous mobile industrial robots, which depend on the SLAM technology to make their way around the factory floor.
Key Findings of SLAM Technology Market Report
The rapid adoption of UAVs is a key industry driver because the SLAM technology is used in these platforms for navigation, flight control, and collision avoidance.
Even though the 2D version is more popular in the SLAM technology market, the demand for the 3D version is rising fast, as the latter makes AR/VR devices more accurate.
Presently, the technology is utilized the most in robotics due to the high demand for robots in manufacturing, transport, assembly and packing, earth and space exploration, weaponry, surgery, and laboratory research.
North America is the largest user of the technology because of its high IT spending, advanced military, huge manufacturing sector, rapid economic growth, and presence of numerous market players.
Moreover, a large number of autonomous vehicle development and testing projects are underway in the US, which are driving the demand for SLAM technology.
The highly competitive SLAM technology market has several companies, which are engaging in mergers & acquisitions and collaborations to get an edge.
Clearpath Robotics Inc.
Parrot Drones Sas
Rethink Robotics GmbH
Maxst Co. Ltd.
Hi-Tech Robotic Systemz Limited
Smp Robotics Systems Corp.
Meta Platforms Inc.
Mobile Industrial Robots A/S
Magic Leap Inc.
Key Topics Covered:
Chapter 1.Research Background
1.1 Research Objectives
1.3 Analysis Period
1.4 Market Data Reporting Unit
1.5 Research Scope
1.6 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3.Executive Summary
Chapter 4. Voice of Industry Experts/Kols
Chapter 5. Definition of Market Segments
5.1 By Offering
5.3 By Application
5.3.4 Autonomous Vehicle
5.4 By End-user
5.4.3 Agriculture & Forestry
5.4.6 Manufacturing & Logistics
5.4.7 Household appliance
Chapter 6. Industry Outlook
6.1 Market Dynamics
188.8.131.52 Advancement in Visual Slam
184.108.40.206 Product Launches
220.127.116.11 Emergency of Autonomous Vehicles
18.104.22.168 Increasing Number of AR Applications
22.214.171.124 Rising Applications of Uavs
126.96.36.199 Impact Analysis of Drivers on Market Forecast
188.8.131.52 Unpredictable Performance in Low Dynamic Environments
184.108.40.206 Impact Analysis of Constraints on Market Forecast
6.2 Impact of Covid-19 on Slam Technology Market
6.3 Value Chain Analysis
6.4 Porter’s Five Forces Analysis
Chapter 7. Global Market Size and Forecast
7.1 by Offering
7.2 by Type
7.3 by Application
7.4 by End-user
7.5 by Region
For more information about this report visit https://www.researchandmarkets.com/r/17ahra