What Has Been the Growth of the Simultaneous Localization And Mapping Technology Market So Far?
The simultaneous localization and mapping technology market has seen considerable growth due to a variety of factors.
• In recent years, the market size for simultaneous localization and mapping technology has seen a dramatic surge. The market is projected to escalate from a valuation of $0.55 billion in 2024 to $0.8 billion in 2025, representing a compound annual growth rate (CAGR) of 45.4%.
This significant growth during the historical period can be credited to several factors. These include the growing embracement of autonomous vehicles, heightened emphasis by the automobile industry, expanding usage of SLAM in the field of augmented reality (AR), escalating demand for self-positioning robotics in domestic and commercial settings, and a increased need for cutting-edge technologies.
How Will the Simultaneous Localization And Mapping Technology Market?
The simultaneous localization and mapping technology market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for the technology of simultaneous localization and mapping is predicted to experience a sharp incline in the coming years, with estimates suggesting it will expand to $3.56 billion by 2029, showcasing a compound annual growth rate (CAGR) of 45.0%.
Factors contributing to this prospective growth during the projection period include burgeoning demand for both unmanned aerial vehicles and robots, increased requests for self-operating mapping and navigation solutions, the industrial sector's rising utilization of SLAM technology, and a growing appetite for cutting-edge technologies. The forecast period is also expected to see significant trends such as improved sensor technologies, positive government initiatives, innovative AR and VR experiences, conducive regulatory schemes, and considerable consumer embracement of nascent technologies.
Which Factors Are Boosting Growth In The Simultaneous Localization And Mapping Technology Market?
The surge in demand for unmanned aerial vehicles (UAVs) is anticipated to fuel the expansion of the simultaneous localization and mapping (SLAM) technology market. UAVs are aircrafts that function without an onboard human pilot. These UAVs find utility in numerous applications such as aerial photography, videography, agriculture, construction, infrastructure examination, environmental assessment, search and rescue operations, disaster management, surveillance, and law enforcement. SLAM technology is utilized to facilitate autonomous navigation by producing real-time maps of the surrounding environment and accurately determining their location. This technology thereby enables UAVs to carry out aerial surveying, inspection, and surveillance with high precision and efficiency. An example highlighting this trend is June 2022 prediction made by the Federal Aviation Administration (FAA), a US-based civil aviation body which forecasts that the US commercial drone sector would incorporate almost 589,000 small drones, reflecting a growth rate surpassing 21%. Hence, the rising demand for UAVs is spearheading the growth of the SLAM technology market.
What Key Areas Define The Segmentation Of The Global Simultaneous Localization And Mapping Technology Market?
The simultaneous localization and mapping technology market covered in this report is segmented –
1) By Type: Extended Kalman Filter (EKF), Fast, Graph-Based, Other Types
2) By Offering: Two-Dimensional (2D), Three-Dimensional (3D)
3) By Application: Unmanned Aerial Vehicle (UAV) And Robots, Augmented Reality (AR) And Virtual Reality (VR), Autonomous Vehicles, Other Applications
4) By End User: Commercial, Military, Agriculture And Forestry, Mining, Automotive, Manufacturing And Logistics, Household Appliance
Subsegments:
1) By Extended Kalman Filter (EKF): Monocular EKF SLAM, Stereo EKF SLAM, LiDAR-Based EKF SLAM
2) By Fast: Particle Filter-Based Fast SLAM, Multi-Particle Filter Fast SLAM
3) By Graph-Based: Optimization-Based Graph SLAM, Pose Graph SLAM
4) By Other Types: Visual SLAM (V-SLAM), LiDAR SLAM, RGB-D SLAM, Multi-Sensor Fusion SLAM
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How Are Emerging Trends Reshaping The Dynamics Of The Simultaneous Localization And Mapping Technology Market?
Prominent players in the simultaneous localization and mapping technology market are concentrating on technological advancements like remote sensing payload instrument solutions (RESEPI), with an aim to deliver superior results. A robust, dependable, and economically efficient solution, RESEPI is ideal for remote sensing applications that necessitate high-accuracy and quality. For example, Inertial Labs Inc., a US-based high-performance sensor manufacturer, unveiled the RESEPI scanner in January 2024. Powered by Kudan’s 3D Lidar SLAM engine, it is crafted for digitization tasks. The scanner can generate high-quality point clouds in various sensing modalities, providing precise, high-resolution outputs in several dynamic mapping situations.
Who Are the Key Players In The Simultaneous Localization And Mapping Technology Market?
Major companies operating in the simultaneous localization and mapping technology market report are:
• Samsung Electronics Co. Ltd.
• Microsoft Corporation
• Meta Technologies Inc.
• Huawei Technologies Co. Ltd.
• Hitachi Ltd.
• LG Electronics Inc.
• Intel Corporation
• Telefonaktiebolaget LM Ericsson
• BAE Systems plc
• NEC Corporation
• Capgemini SE
• Wipro Limited
• Rockwell Automation Inc.
• Tech Mahindra Ltd.
• Intellias
• Kudan Inc.
• Skydio
• Magic Leap Inc.
• Locus Robotics Inc.
• NavVis
• Aethon Inc.
• MAXST Co. Ltd.
• Gestalt Robotics GmbH
What Is The Most Dominant Region In The Simultaneous Localization And Mapping Technology Market?
North America was the largest region in the simultaneous localization and mapping technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the simultaneous localization and mapping technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
