10-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “SLAM Technology Market By Offering (2D SLAM & 3D SLAM), By Type (EKF SLAM, Fast SLAM, Graph-Based SLAM & Others), By Application (Robotics, UAV, AR/VR, Automotive, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026”. According to the report, the global SLAM technology market was valued at approximately USD 103 Million in 2020 and is expected to reach a value of around USD 435 Million by 2026, at a CAGR of around 29.7% between 2021 and 2026.
SLAM or simultaneous localization and mapping comprise of simultaneous approximation of the condition of a robot that is fitted with onboard sensors and map construction for an environment that sensors experience. It finds myriad applications 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.
Browse the full “SLAM Technology Market By Offering (2D SLAM & 3D SLAM), By Type (EKF SLAM, Fast SLAM, Graph-Based SLAM & Others), By Application (Robotics, UAV, AR/VR, Automotive, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026” Report at https://www.fnfresearch.com/slam-technology-market-by-platform-augmented-reality-unmanned-157
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 surveillance, navigation, and inter-vehicle communication due to the acceptance of SLAM technology.
Augmented Reality to lead the platform segment over the forecast period
The growth of the segment is due to the massive usage of SLAM technology in the coining of algorithms intended at solving simultaneous localization & mapping issues in the development of augmented reality kits.
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 are 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, the 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 non-commercial purposes 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.
Top Market Players
The key market participants for the global SLAM technology market are Apple, Inc., Microsoft Corporation, Facebook, Inc., Alphabet, Inc., Aethon, Inc., Fetch Robotics, Inc., Intel Corporation, Amazon Robotics, Skydio, Inc., Clearpath Robotics, Inc., The Hi-Tech Robotic Systemz, Intellias, Rethink Robotics, NavVis, and Mobile Industrial Robots ApS, among others.
This report segments the SLAM technology market as follows:
Global SLAM Technology Market: By Offering Segment Analysis
Global SLAM Technology Market: By Type Segment Analysis
- EKF SLAM
- Fast SLAM
- Graph-Based SLAM
- Others
Global SLAM Technology Market: By Application Segment Analysis
- Robotics
- UAV
- AR/VR
- Automotive
- Others
Global SLAM Technology Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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