Simultaneous Localization and Mapping Market is expected to reach US$ 5,572.53 Million by 2031

Surging Significance of Small Unmanned Systems for Cargo Deliveries to Fuel Simultaneous Localization and Mapping Market Growth During Forecast Period

According to our latest study, “Simultaneous Localization and Mapping Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Offerings, System Type, Application, and Geography," the market was valued at US$ 481.52 million in 2023 and is expected to reach US$ 5,572.53 million by 2031; it is estimated to record a CAGR of 35.8% from 2023 to 2031. The report includes growth prospects owing to the current simultaneous localization and mapping market trends and their foreseeable impact during the forecast period.

Simultaneous localization and mapping (SLAM) solutions have crucial applications in unmanned aerial vehicles (UAVs). The technology primarily supports autonomous drone operation in real time, allowing UAVs of all kinds to modify their flight paths instantly based on landmarks, objects, and obstacles in their way. Technological advancements in air mobility boost the development of small UAVs or drones for cargo deliveries. Increasing demand for same-day delivery of shipments and mounting requirements for delivering essentials in unreachable and remote locations propel the demand for small UAVs. The UAVs can be utilized to deliver a range of cargo, which primarily includes spare parts, commercial goods, medical supplies, food items, and vaccines. In addition, UAVs can be used to deliver postal in remote construction or offshore sites. The increasing proliferation of UAVs in logistics and freight services is also one of the major driving factors for the simultaneous localization and mapping market.

Simultaneous Localization and Mapping Market Analysis — by Geography

Source: The Insight Partners Analysis

In July 2024, DTDC introduced drone-based deliveries through a strategic collaboration with Skye Air Mobility. In 2022, Wing Aviation LLC collaborated with KFC, Australia, to deliver food products in Queensland. Furthermore, Skye Air Mobility collaborated with Dunzo to test and trial drone-driven food delivery services in Karnataka in 2022. Further, in 2022, Swiggy collaborated with Garuda Aerospace and performed a trial run of drones to deliver groceries in Bengaluru and Delhi NCR. Cargo drones are gaining traction as a viable option to reduce carbon footprint and mitigate environmental pollution levels. Growing focus on lowering the carbon footprint in the logistics and aviation sector fuels the development of cargo drones across the world, which subsequently drives the application of SLAM technology globally. In 2021, Leonardo S.p.A. completed the first trial of its "Sumeri Moderni" drone-based delivery in Turin. In 2022, FedEx Corp. collaborated with Elroy Air to trial their autonomous eVTOL air cargo system for middle-mile logistics operations. Thus, the growing development of small UAVs for cargo deliveries is driving the growth of the global simultaneous localization and mapping market.

Sevensense Robotics AG; Rethink Robotics GmbH; NavVis GmbH; Kudan Inc; Exyn Technologies Inc; Slamcore Ltd; MAXST Co Ltd; FARO Technologies Inc; ANAVS GmbH; Nexxis; Kuka AG; Leica Geosystems AG; Applanix; Leishen Intelligent System Co., Ltd.; and Visimind AB. are among the key players profiled in the simultaneous localization and mapping market report. Several other major players were also studied and analyzed during the market study to get a holistic view of the market and its ecosystem.

The report includes the simultaneous localization and mapping market forecast by offerings, system type, and application. By offering, the market is divided into 2D SLAM and 3D SLAM. The 2D SLAM segment held a larger simultaneous localization and mapping market share in 2023.

The scope of the simultaneous localization and mapping market report focuses on North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Taiwan, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America dominated the market in 2023, followed by Asia Pacific and Europe. The high presence of technology developers and system integrators of simultaneous localization and mapping in North America, such as Applanix, FARO Technologies Inc., and Exyn Technologies Inc., is acting as a significant driver for the simultaneous localization and mapping market growth in the region.

Manufacturing and pharmaceuticals are the major industries in France, boosting the market in the country. In terms of the oil & gas industry, in 2023, France collaborated with Spain and Portugal to develop hydrogen pipelines by 2030. The pipeline is targeted at making the European Union's energy supply more self-sufficient. The rising number of oil & gas development projects is also driving the application of industrial robotics, which is boosting the demand for SLAM. The aviation industry in France accounts for a significant share in Europe. The rising aircraft production in France is propelling the application of simultaneous localization and mapping. In January 2024, Arianespace collaborated with NewSpace India Limited and signed a Memorandum of Understanding for a long-term alliance to support satellite launch missions. In 2023, a French-led consortium received funding for its project to develop an innovative, low-cost small rocket called "Baguette One" and launch it into space.

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