Simultaneous Localization and Mapping Technology Market | 2031

Report Description

Simultaneous Localization and Mapping (SLAM) Technology Market Outlook 2031

The global simultaneous localization and mapping (SLAM) technology market size was valued at USD 342.69 Million in 2022 and is likely to reach USD 5354.22 Million by 2031, expanding at a CAGR of 35.72% during 2023 – 2031. The market's growth is attributed to the growing adoption of autonomous vehicles and the increasing number of robots.

Robots need simultaneous localization and mapping technology to create a map and localize themself on the map, which allows robots to map out unknown or unidentified environments. Therefore, the increasing number of robots is expected to boost the demand for the simultaneous localization and mapping (SLAM) technology market. For instance,

• As per the report published by the International Federation of Robotics on February 16, 2023, there are 3.5 million operational robots present around the globe. The installation value for these robots reached up to USD 15.7 billion.

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The simultaneous localization and mapping technology is a vital and complex algorithm that maps an unknown environment. Advanced devices and appliances such as robots use SLAM technology to create a virtual map of the location by localizing themselves in the map. SLAM technology combines with environmental information and creates a 3D map of an environment to provide a more accurate path to the device destination.

Simultaneous localization and mapping technology is majorly adopted in autonomous vehicles to localize themselves on the map. It uses multiple sensors to create a map of the unknown environment including areas where GPS signals are completely unavailable or with poor GPS signals.  Thus, the growing adoption of autonomous vehicles is projected to fuel the market growth. For instance,

• As per the research report published on September 23, 2022, the autonomous car is slowly gaining market share. The number of these cars is expected to surpass 54 million in 2024 compared to 2019 which was 31 million cars.

The research report finds that the COVID-19 pandemic impeded the demand for simultaneous localization and mapping technology. Simultaneous localization and mapping technology is widely used in autonomous vehicles, the production of autonomous vehicles drastically fell during the COVID-19 pandemic, due to the shortage of semiconductor chips that are used to manufacture autonomous vehicles. So, with the lack of semiconductor chips, the production of autonomous vehicles was reduced, which hampered the demand for simultaneous localization and mapping technology (SLAM).

Impact of Artificial Intelligence (AI) on Simultaneous Localization and Mapping Technology

Emergence of artificial intelligence in SLAM technology has enhanced the market. Simultaneous localization and mapping technology has the potential to revolutionize several industries, particularly autonomous and robotics. The integration of AI in SLAM allows several benefits to robotic and automated navigation. AI uses machine learning algorithms to improve the efficiency and accuracy of simultaneous localization and mapping technology by training algorithms on large sensor data.

AI-powered robots and automated devices equipped with SLAM technology learn to recognize patterns and features in their environment, which allows them to build more accurate maps and estimate their position more precisely. AI-powered SLAM technology uses machine learning algorithms and predictive analytics to analyze sensor data, which allows automated devices and robots to recognize and classify objects in their surroundings. For instance,

• On April 25, 2023, ABB introduced a new Visual simultaneous localization and mapping (Visual SLAM) technology for its autonomous mobile robots (AMRs) to make intelligent navigation decisions based on their surroundings. Visual SLAM combines AI and 3D vision technologies to guarantee superior performance in comparison to other guidance techniques for AMRs.

Simultaneous Localization and Mapping (SLAM) Technology Market Dynamics

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Major drivers

Growing adoption of mobile augmented reality is projected to boost the demand for simultaneous localization and mapping technology. SLAM is utilized in mobile augmented reality apps to recognize 3D objects & scenes and track the world. It is used in augmented reality to overlay digital interactive augmentations. Thus, the growing adoption of mobile augmented reality is estimated to propel the market. For instance,

• As per the report, the mobile augmented reality (AR) market was valued at USD 12.45 billion and is projected to reach USD 36 billion by 2026.

Existing Restraints

The technical complexity associated with simultaneous localization and mapping technology is anticipated to restrict market growth. Applying SLAM technology in robotics, AR/VR, and automated cars offers intricate challenges such as detecting loop closers and blurring effects in robotics, which is expected to impede market growth. Moreover, lack of awareness about simultaneous localization and mapping technology among small and medium enterprises is projected to hamper the market as the technology is still in the early stage of development and testing.

Emerging Opportunities

Increasing demand for autonomous drones for beyond visual line of sight (BVLOS) is expected to create an immense opportunity in the market.  Autonomous drones are equipped with SLAM technology to provide the framework for path planning for surveillance or search and rescue operations. Moreover, companies are collaborating to develop new products and solutions in simultaneous localization and mapping technology creating lucrative opportunities in the market. For instance,

• On October 19, 2022, Kudan Inc. and ADLINK Technologies Inc. partnered to announce the launch of AMR Visual SLAM Solution for autonomous mobile robots (AMRs) and auto-guided vehicles. AMR visual SLAM solution is introduced to boost the performance of robots, especially in challenging environments of AMR applications such as indoor and outdoor mixed applications, dynamic objects, and scenery changes.

Scope of the Simultaneous Localization and Mapping (SLAM) Technology Market Report

The report on the market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Offering Segment Analysis

Based on offerings, the simultaneous localization and mapping (SLAM) technology market is divided into 3D SLAM and 2D SLAM. The 2D SLAM segment showed rapid growth in 2022, due to increasing demand for self-driving vehicles and autonomous robots. The 2D SLAM technique is utilized in autonomous vehicles and robots for mapping, localizing, and planning. It creates 2D maps of unknown environments by deploying 2D sensors and extracting 2D measurements from surrounding environments. Moreover, 2D SLAM is easy to implement and is less complex than 3D SLAM, which is estimated to propel market growth.

The 3D SLAM segment is projected to grow at a quick pace in the coming years, owing to the increasing adoption of drones and the rising usage of augmented reality. 3D SLAM uses a LiDAR-based SLAM system to generate a 3D map of the surrounding environment, which enables AR applications to recognize 3D objects & scenes. It measures the distance of an object such as a wall, tree, or others, encouraging autonomous drone manufacturers to offer 3D SLAM techniques with their upcoming self-driving drones.

Type Segment Analysis

In terms of types, the global market is categorized into EKF SLAM, fast SLAM, and graph-based SLAM. The graph-based SLAM dominated the market in 2022 and is expected to continue its dominance throughout the projected period, owing to its ability to provide better accuracy and consistency. Graph SLAM accurately obtains the map and the robot path by resolving the data set of soft constraints, represented by a sparse graph, which increases the consistency of autonomous devices such as robots, drones, and self-driving cars. This in turn is expected to boost the demand for simultaneous localization and mapping (SLAM) technology.

The EKF SLAM is estimated to grow at a significant pace in the coming years, owing to finding new landmarks and associations. EKF SLAM-based devices use the Kalman filter to generate simultaneous localization and mapping (SLAM) by taking the observed landmarks from the environment and comparing them with known landmarks to find associations and new landmarks. This benefit offered by EKF SLAM is projected to boost the demand for simultaneous localization and mapping technology.

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Application Segment Analysis

Based on the application, the simultaneous localization and mapping (SLAM) technology market is segregated into UAV & robots, AR/VR, and autonomous vehicles. The UAV (drone) & robots segment held a large market share in 2022, due to increasing demand for robots. SLAM technology is utilized in UAVs & robots to offer them independent movement. Robots equipped with SLAM technology create their live map of the surroundings by gathering information through cameras and sensors.

The UAVs & robots deployed in industries such as security and cleaning are equipped with SLAM technology for object detection and scene perception to map out unknown environments. Thus, increasing demand for UAVs (drones) & robots is projected to enhance market growth. For instance,

• As per the report, the drone market is expected to grow at a CAGR of 3.20% and is expected to reach 9.3 million by 2028.

The autonomous vehicle is anticipated to grow at a considerable pace during the assessment period, owing to greater road safety and reduced congestion. Autonomous vehicles use SLAM technology to produce an up-to-date image of their surroundings and the path ahead through cameras and sensors, which remove the risk of human error and enhance safety for drivers and pedestrians. This in turn is expected to boost the sales of autonomous vehicles, significantly boosting demand for SLAM technology.

Regional Outlook

Based on region, the simultaneous localization and mapping (SLAM) technology market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market in 2022 and is expected to continue its dominance throughout the forecast period, due to the presence of major market players such as Microsoft, Rethink Robotics GmbH, Magic Leap, Inc., and Intel Corporation. Moreover, growing demand for autonomous vehicles in the region is projected to boost the demand for SLAM technology as this technology is primarily adopted in autonomous vehicles to maintain and create a map of their surrounding environments by using several sensors located in different parts of the vehicle. For instance,

• According to a report, the number of autonomous vehicles is expected to reach 20.8 million in the US by 2030.

Europe is estimated to witness a high CAGR growth during the projection period, owing to the increasing technological advancements and rising adoption of robots. Robots in the region are widely adopted for home automation and security, which is anticipated to boost market growth as SLAM technology is commonly used in robots to simultaneously locate the robot in real-time and generate a coherent map of surrounding landmarks such as trees, buildings, and others. Thus, the rising adoption of robots is projected to drive the market growth. For instance,

• According to the report published on June 28, 2023, by the International Federation of Robotics, Robot installations in European countries reached a total of 84,000 units in 2022 with an increase of 3%.

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