Simultaneous Localization and Mapping (SLAM) technology is used across various end-user industries such as commercial, household, manufacturing, logistics, and military. Owing to the SLAM technologies’ accuracy and continuous advancement of this technology, it is gaining traction, globally. According to the latest market intelligence report by BIS Research titled, ‘Global SLAM Technology- Analysis and Forecast (2018-2027),’ the market generated a revenue of $50 million in 2017 with robots’ platform holding the highest market share. This significant share of robots is attributed to the increasing demands for robots across various end-user industries. The market for SLAM technology is expected to grow at the highest rate for autonomous vehicles segment as compared to other segments.
SLAM technology receives input in the form of visual data and converts the received data into a form that can be understood by machines. The demands for SLAM technology are swiftly increasing among different end-users on a global scale. The market for SLAM technology is driven by the rise in automation across various industries, growing penetration of mapping technologies in domestic robots, and increasing number of augmented reality applications. Some of the key market players of the SLAM technology market are SLAM core Limited, Fetch Robotics Inc., Parrot SA, Clear path Robotics Inc., Apple Inc., Google LLC, and KUKA AG, among others.
The demands for SLAM technology have experienced a considerable rise in the last few years, and the same is anticipated in the future. This significant rise of SLAM technology is owing to its high accuracy and minimal hardware requirement. The rise in the number of industries moving towards automation and UAVs are expected to present a plethora of opportunities for the growth of SLAM technology. Some of the major platforms where SLAM technology is used are Robots, UAVs, augmented reality, and autonomous vehicles. The global market for SLAM technology can be segmented by types, end-users, and by geographical regions, among others.
North America is expected to lead the global market for SLAM technology during the forecast period followed by Europe and Asia-Pacific (APAC). The United States is the dominating country for the SLAM technology market, worldwide and is expected to maintain its dominance from the period 2018-2027. The dominance of United States is owing to the presence of numerous commercial and non-commercial drone manufacturers in the country. Asia-Pacific is expected to grow at the highest CAGR from 2018-2027 with China dominating the market in the respective region. The market is anticipated to garner more attraction in the future owing to its improvised implementation, significant demands from different end-users, and rise in the awareness about the technology.
BIS Research has conducted extensive research on the global SLAM technology market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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