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Simultaneous Localization and Mapping Technology Market Growth Analysis, Size, Future Forecast 2024

The latest study provides an in-depth analysis of the market focusing on various market definitions, segmentations, sub-segmentations, products, as well as applications.


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Mayuri V Jain

a year ago | 2 min read

The Simultaneous Localization and Mapping Technology Market is estimated to exceed 2 billion by 2024. The technology is capable of substituting GPS tracking and navigation in big cities. The technology has the ability to measure physical environment precisely, which will offer prolific growth opportunities to SLAM technology market. 

Rapid adoption of various advanced technologies in several industries has pushed simultaneous localization and mapping technology market growth at a considerable pace. Technological advancements, urbanization, and industrialization have promoted adoption of robotics, AR, and Internet of Things (IoT), which has resulted in simultaneous localization and mapping technology industry growth. 

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2D motion has found extensive application in robot mapping technologies and witnessed heavy growth in SLAM technology industry in 2017. But 3D motion is increasingly replacing 2D motion technology due to the incapability of 2D motion to observe landmarks not falling under its measurement plane. In 2014, Goggle had unveiled Cartographer to run real-time simultaneous localization and mapping technology market in 2D and 3D across several platforms and sensor configurations. 

The cartographer has found wide-ranging applications in mapping transit hubs and museums to enable new visualizations of building structures. To capitalize on the soaring popularity of 3D motion technology, various industry players are entering into strategic partnerships to expand their 3D motion capabilities, which will further impel industry growth.

In 2017, robot platform accounted for about 94.7% in the overall simultaneous localization and mapping technology market. The growth can be attributed to the capability of robots to perform complicated tasks, which requires navigation in complex surroundings without any human help. The technology is being integrated into robots to make them suitable for a diverse range of applications. 

Simultaneous localization and mapping technology market integrated robots are capable of providing precise and flexible solutions in car production, military services, space exploration, underwater exploration, remote and invasive surgery. Some more applications of robot platform include investigating hazardous environments, commercializing agriculture, and fixing oil spills among others. SLAM-based surgery robots have the ability to navigate inside or outside the patient's body and find problems to perform invasive surgeries.

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Simultaneous localization and mapping technology market technology market share from manufacturing and logistics applications is forecast to grow at a CAGR of 72.8% over 2018-2024. Automatic guided vehicle is being integrated withtechnology to help these vehicles pick and deliver products with the manufacturing system. Also, research and development activities are being carried out to develop manufacturing applications based on SLAM technology to improve its functionality and capability. Such wide-ranging applications of simultaneous localization and mapping technology in manufacturing and logistics segment are likely to upsurge technology market share. 

Some of the key simultaneous localization and mapping technology market players include Parrot SA, Kuka AG, Google, Microsoft Corporation, Facebook, Apple, Wikitude, and SMP Robotics. A few more industry players are Clearpath Robotics, Ascending Technologies GmbH, NAvVis, Dibotics, Fetch Robotics, and GeoSLAM Ltd. among others.

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