Simultaneous Localization and Mapping Technology Market $2bn by 2024

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SLAM Technology Market to reach USD 2 billion by
2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from SLAM Technology Market

• Global Simultaneous Localization and Mapping
  (SLAM) Technology Market to reach USD 2 billion
  to grow at a CAGR of over 71 from 2018 to 2024
  according to a new research report by Global
  Market Insights, Inc. The rising technological
  developments and growing awareness regarding the
  benefits offered by the SLAM technology are
  primarily driving the market demand.
• Over the past five years, leading technology
  companies, such as Google, Facebook, and Amazon,
  have made significant investments in SLAM
  technology to indulge into various business
  expansion strategies such as new product
  developments and mergers acquisitions. For
  instance, in 2015, Apple acquired an AR company,
  Metaio, after the company announced a SLAM
  capability in its Software Development Kit (SDK).
  This acquisition has assisted Apple to include
  Metaios technical SLAM base into its product,
  ARkit, an AR framework for developers.

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Continued...

• Numerous mapping technologies, such as
  marker-based tracking and GPS, are used in
  various sectors including military, agriculture
  forestry, and other commercial sectors. However,
  these technologies do not work efficiently
  indoors and even in certain outdoor locations
  that lack a clear view of the sky. To overcome
  these drawbacks, companies are now adopting the
  SLAM technology that works efficiently indoors as
  well as in urban environments and provides high
  accuracy.
• The SLAM technology uses various types of sensors
  including tactile sensors, image sensors, and
  LiDAR to develop a map of a space along with
  determining the location of the device within
  that space. The other benefits offered by the
  SLAM technology include easy navigation without
  reliance on external technologies and real-time
  formation of 3D maps with reduced cost power
  requirements, driving its market growth.

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Singapore SLAM Market Share, By Application, 2017

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Continued...

• The autonomous vehicles segment is anticipated to
  grow at the fastest rate over the forecast
  period. Autonomous driving involves various
  critical tasks, such as navigation, planning, and
  collision avoidance, which cannot be fulfilled by
  sparse map representations. To obtain dense maps,
  SLAM technology has been used to produce highly
  accurate maps. Googles driverless cars employ
  the SLAM technology that uses roof-mounted LiDAR
  sensors for creating a 3D map of their
  surroundings.
• This is done by the system within 10 seconds as a
  quick response is necessary since the machine
  being tracked is moving with high speed and
  acceleration. These mappings are then augmented
  over the existing Google maps. With the aid of
  these readings, the autonomous system makes
  important driving decisions using the statistical
  probabilistic algorithms, creating a more
  enhanced autonomous driving experience.

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Continued...

• The commercial sector dominates the global SLAM
  technology market with an industry revenue of USD
  22.2 million in 2017 anticipated to reach USD
  933.4 million by 2024. Various industries using
  the SLAM technology include healthcare,
  hospitality, construction, service, education,
  automotive, retail, and wholesale departments.
  The healthcare department requires image guidance
  systems for performing critical surgeries. These
  systems must be capable of displaying a detailed
  computer-based 3D visualization that enables the
  surgeon to rotate the 3D model on the computer
  for gaining an enhanced understanding of the
  location of the robot with respect to the
  anatomical target.
• The existing image guidance systems have limited
  functionality with certain restraints, such as
  inaccuracy and inefficiency, to convey all the
  available information. The adoption of SLAM
  technology in the medical systems enhances their
  accuracy in estimating dynamic information and
  gives precise inferences of deformation during
  surgeries.

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Industry Coverage

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Continued...

• North America dominates the global SLAM
  technology market with an industry share of 50.5
  in 2017. The major factor contributing to the
  growth include the presence of several drone
  manufacturers in this region. Being home to some
  of the leading SLAM solution providers including
  Apple and Google, the region is presenting new
  growth prospects for advanced adoption of the
  SLAM technology. The companies functioning in
  this region are also involved in new product
  development strategies for expanding their
  presence in the highly lucrative market.
• AI Incorporated, a leading Canadian AI and
  robotics research firm, launched the design of
  the mobile autonomous robot, a new application
  for mobile robotics. This innovation will render
  humans from emptying trash bins as the bins will
  automatically leave their place to be emptied
  during their pickup time. These robots use the
  SLAM technology to avoid obstacles and
  automatically navigate toward the truck on its
  arrival.

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Continued...

• Market expansion and new product developments are
  the main strategies adopted by the enterprises
  operating in the SLAM technology market. The
  prominent companies functioning in the industry
  include Google, Facebook, Apple, Parrot SA, Kuka
  AG, Microsoft Corporation, SMP Robotics,
  Wikitude, GeoSLAM Ltd., Kudan, Clearpath
  Robotics, Inc., DIBOTICS, Aethon, Fetch Robotics,
  Ascending Technologies GmbH and NavVis.

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Table OF Content
Chapter 1. Methodology Scope 1.1.
Methodology 1.1.1. Initial data
exploration 1.1.2. Statistical model and
forecast 1.1.3. Industry insights and
validation 1.1.4. Scope 1.1.5. Definition 1.1.6.
Methodology and research parameters 1.2. Data
Sources 1.2.1. Primary 1.2.1.1. Paid
Sources 1.2.1.2. Public Sources 1.2.2.
Secondary Chapter 2. Executive Summary 2.1.
SLAM technology industry 360º synopsis, 2015 -
2024 2.1.1. Business trends 2.1.2. Regional
trends 2.1.3. Motion trends 2.1.4. Platform
trends 2.1.5. Application trends
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