Insights on the Simultaneous Localization and Mapping Global Market to 2026 – Players Include Apple, Google & Microsoft Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Simultaneous Localization and Mapping Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The simultaneous localization and mapping market is expected to grow at a CAGR of 26.78% during the forecast period.
The growing adoption of wireless technology, increasing investment in developing robust autonomous technology, rising demand for service robots for domestic applications, are some of the major factors driving the growth of the simultaneous localization and mapping market.
Companies Mentioned
- ClearPath Robotics
- Apple Inc.
- Google LLC
- Microsoft Inc.
- Amazon Robotics
- Kudan Inc.
- MAXST Developers
- Aethon Inc.
- Rethink Robotic.
- Hi-tech Robotic Systemz Ltd
Key Market Trends
UAVs and Robots Will Experience Significant Growth and Drive the Market
- UAVs are seeing growing applications from defense to agriculture in the recent years, in addition to this, the technology is increasingly becoming commercial for various purposes such as emergency response, disaster relief & control, agriculture, weather forecasting, mining, construction planning, and many more. Additionally, innovations in camera technology have had a significant impact on the growing application of UAVs. Drones with thermal imaging cameras have provided emergency response teams with an ideal solution for identifying victims, which are difficult to spot with the naked eye. For instance, in 2017, drones were used to help restore power to areas damaged by Hurricane Harvey, as well as to conduct survey damage to flooded areas and assist in search and rescue effort.
- Further, various vendors in the market are expanding their UAV offerings to industries with hazardous work environments where SLAM based UAVs can work autonomously. For example, Japan-based Terra Drone Corporation has signed an investment agreement with Unmanned Aerial Services Incorporated UAS Inc to form a new subsidiary in Canada, Terra Drone Mining, to offer unmanned mapping and inspection services to underground mines.
- With the recent outbreak of Covid-19, which highlighted the demand for automating various repetitive tasks to mitigate the risk of workforce shortage is expected to further augment the demand for automation over the coming years. With the growing number of automation, the demand for SLAM technology in various industrial spaces is also expected to see a positive boost.
North America is Expected to Experience Significant Growth
- North America’s simultaneous localization and mapping market is expected to hold a significant share due to the favorable government regulations and increasing military spending on drones for the research and development of unmanned systems in the air, ground, and sea. The Department of Defense has requested approximately USD 9.39 billion for unmanned systems and associated technologies in the financial year 2019 budget, which would include funding for the procurement of 3,447 new air, ground, and sea drones. Moreover, according to the Teal Group, United States will continue to lead the investment in military unmanned aerial vehicle systems with research and development spending increasing from an estimated USD 2.2 billion in 2020 to USD 2.7 billion in 2029.
- Additionally, the growing gaming industry in the United States commands a prominent share of the demand for AR headsets and owing to which various vendors in the market are increasingly focusing on developing solutions specific to the industry. Various vendors in the market are building their own enhanced SLAM solutions to be incorporated in their offerings.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Penetration of Mapping Technologies in Domestic Robots and UAV
4.2.2 Advancements in Visual SLAM Algorithm
4.2.3 Increasing Application of SLAM in Augmented Reality
4.3 Market Challenges
4.3.1 High Initial Investment and Technical Complexities Involved
4.4 Market Opportunities
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.6 Impact of COVID-19
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 EKF SLAM
5.1.2 Fast SLAM
5.1.3 Graph-Based SLAM
5.1.4 Others
5.2 By Offering
5.2.1 2D SLAM
5.2.2 3D SLAM
5.3 By Application
5.3.1 UAV and Robots
5.3.2 AR/VR
5.3.3 Autonomous Vehicles
5.3.4 Other Applications
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdoms
5.4.2.3 France
5.4.2.4 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Japan
5.4.3.4 Rest of Asia-Pacific
5.4.4 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers & Acquisitions
6.3 Company Profiles*
7 FUTURE OUTLOOK OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/fk0vox
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