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The simultaneous localization and mapping market size is expected to reach US$ 5,572.53 million by 2031 from US$ 481.52 million in 2023. The market is estimated to record a CAGR of 35.8% from 2023 to 2031. The utilization of SLAM technology in space applications is likely to trend in the market.
Simultaneous Localization and Mapping Market Analysis
Rising number of oil & gas plants, increasing government initiatives to build renewable power plants, and rising industrialization are fueling the demand for technologies to monitor, track, and map plant environment and provide a complete view of the plant. This, in turn, helps mitigate some of the major operational challenges. The growing number of oil & gas, mining, and construction projects in remote areas is boosting the expansion of the simultaneous localization and mapping market across the globe.
The increase in substantial investments in the automotive and advanced air mobility sectors boosts the simultaneous localization and mapping market growth. The growing use of simultaneous localization and mapping software in space technologies and unmanned aerial vehicles bolsters the growth of the simultaneous localization and mapping market globally.
Simultaneous Localization and Mapping Market Overview
Development of the simultaneous localization and mapping market is driven by the growing application of various localization, tracking, and mapping techniques in oil & gas, utility, automotive, mining, construction, agriculture, and manufacturing industries. In addition, the increasing application of factory automation and robotic technologies across different sectors for optimum utilization of resources to boost energy efficiency and time management is propelling the growth of the simultaneous localization and global mapping market.
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Simultaneous Localization and Mapping Market: Strategic Insights
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Simultaneous Localization and Mapping Market: Strategic Insights
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Simultaneous Localization and Mapping Market Drivers and Opportunities
Rising Adoption of Autonomous Vehicles Globally
Simultaneous localization and mapping (SLAM) is a technological mapping method that allows autonomous vehicles to fabricate a map and localize themselves on the map at the same time. Localization and mapping are required to be combined to get an updated estimate of the map along with an efficient location of the vehicle. SLAM solutions can help autonomous vehicles locate themselves where maps are not available currently or have low connectivity. Moreover, using SLAM, the vehicle can autonomously navigate an unfamiliar environment by developing a map and simultaneously localizing itself.
The growing development in the automotive industry with the integration of advanced technologies is driving the adoption of autonomous vehicles globally. SLAM is employed by leveraging multi-sensor fusion-driven techniques. Sensors include an inertial navigation system (INS), light detection and ranging (LiDAR), high-definition maps (HD Map), and a global positioning system (GPS). The rising number of autonomous vehicles boosts the growth of the simultaneous localization and mapping market. In 2021, Microsoft partnered with Volkswagen Group's CarSoftware Organization to fabricate self-driving cars. General Motors purchased the self-driving startup Cruise in 2016. Cruise began its San Francisco autonomous driving taxi services in 2021. In 2024, the Cruise self-driving vehicle inventory count was 300 cars, and the company predicts to reach ~US$ 1 billion in revenue by 2025. In September 2024, Uber Technologies, Inc. and Waymo LLC expanded their existing partnership to make the availability of Waymo Driver for users. Starting in early 2025, Waymo and Uber are anticipated to bring autonomous ride-hailing to Atlanta and Austin. In September 2024, Tesla announced to introduce its complete self-driving product in Europe and China in early 2025. Thus, the growing development in the automotive sector with the advancement of autonomous vehicles propels the growth of the global simultaneous localization and mapping market.
Integrating SLAM Technology in Metaverse Augmented Reality
AR offers a diverse array of experiences, each with distinctive features and applications, contributing to its increasing versatility and popularity. Metaverse is a combined virtual shared space that brings together the aspects of online gaming, virtual reality, social media, augmented reality, and other immersive technologies. The metaverse concept is an interconnected digital universe where individuals can relate with each other and with digital objects in real time.
SLAM is beneficial in navigation apps, interior design, and industrial applications, enabling the overlay of virtual information onto the real-world environment without specific markers. The concepts of AR and the metaverse are rapidly gaining global interest as the future of technology. In 2022, Epic Games received US$ 2 billion in funding from Sony and KIRKBI to advance Epic's metaverse expansion plans. In 2022, Autodesk, Inc. acquired The Wild, a cloud-connected, extended reality (XR) platform, which includes its namesake solutions, The Wild and IrisVR. Through the acquisition, Autodesk aims to meet the demand for AR and virtual reality (VR) technology advancements globally. In May 2024, Magic Leap signed a multi-faceted, strategic technology partnership with Google to bring a wider range of immersive AR/VR experiences to its end users. The developing SLAM technology and its increasing application in AR, VR, and the metaverse are offering lucrative opportunities in the market.
Simultaneous Localization and Mapping Market Report Segmentation Analysis
Key segments that contributed to the derivation of the simultaneous localization and mapping market analysis are offerings, system type, and application.
- Based on offerings, the simultaneous localization and mapping market is bifurcated into 2D SLAM and 3D SLAM. The 2D SLAM segment held a larger share of the market in 2023.
- By system type, the simultaneous localization and mapping market is categorized into camera based and LiDAR based. The camera-based segment dominated the simultaneous localization and mapping market in 2023.
- In terms of application, the simultaneous localization and mapping market is segmented into robotics, UAV, AR/VR, automotive, RTLS, and others. The robotics segment held the largest share in the simultaneous localization and mapping market in 2023.
Simultaneous Localization and Mapping Market Share Analysis by Geography
- The simultaneous localization and mapping market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Asia Pacific and Europe.
- The Asia Pacific simultaneous localization and mapping market growth is attributed to technology innovation and strategic collaborations. With a strong focus on advancing air mobility, satellite launches, industrial automation, and robotics in Asia Pacific countries, including China, India, Australia, and Japan, have emerged as key players in the simultaneous localization and mapping market. Major industry contributors include leading aerospace and space companies such as Neumann; Space Machines Company; Beijing Spacecraft Manufacturing Co., Ltd; China Aerospace Science; Technology Corporation; and Kongtian Dongli. These companies are renowned for their initiatives in the space technology sector.
- The increasing modernization projects, including Singapore Changi, Beijing Capital International, and Incheon International, are fueling the overall construction sector. Countries such as Indonesia and Thailand are also investing in domestic infrastructural development with more focus on regional airports to improve connectivity. A total of 155 projects out of 425 airport and airport infrastructure development projects across the globe are under development in Asia Pacific with an investment of US$ 209 billion. With an investment of US$ 14.5 billion, Long Thanh International Airport in Vietnam is one of the largest airport development projects in Asia Pacific; it is expected to be completed by 2025. In addition, the expansion of Terminal 5 at Changi Airport, Singapore, is a project worth US$ 10 billion and is expected to be completed by 2030. The growing technological advancement in the construction sector is projected to drive the application of simultaneous localization and mapping technology in Asia Pacific.
Simultaneous Localization and Mapping Market Report Scope
Simultaneous Localization and Mapping Market News and Recent Developments
The simultaneous localization and mapping market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the simultaneous localization and mapping market are listed below:
- NavVis (a global leader in mobile mapping and reality capture) and HERE Technologies (the leading location data and services platform) have teamed up to bring high-definition indoor mapping and visual positioning to parking garage operators and transportation hubs. This partnership leverages three key technologies from NavVis: NavVis mobile mapping systems, NavVis IVION, and NavVis visual positioning technology.
(Source: NavVis, Press Release, February 2022)
- Kudan Inc. announced that Kudan has launched its new business, “Kudan Solution.” Kudan Solution supports the realization of various solutions/platforms that synchronize multiple products incorporating Kudan’s Artificial Perception technology and expand the applications of products using Kudan’s technology.
(Source: Kudan Inc., Press Release, June 2022)
Simultaneous Localization and Mapping Market Report Coverage and Deliverables
The "Simultaneous Localization and Mapping Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Simultaneous localization and mapping market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Simultaneous localization and mapping market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Simultaneous localization and mapping market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the simultaneous localization and mapping market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The robotics segment led the simultaneous localization and mapping market with a significant share in 2023.
The simultaneous localization and mapping market is expected to reach US$ 5,572.53 million by 2031.
Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period.
Utilization of slam technology in space applications is expected to drive the growth of the simultaneous localization and mapping market in the coming years.
The key players operating in the simultaneous localization and mapping market include 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.
Rising adoption of autonomous vehicles globally, increasing advent of industrial mobile robotics, and surging significance of small unmanned systems for cargo deliveries are the driving factors of simultaneous localization and mapping market.
The simultaneous localization and mapping market was estimated to be valued at US$ 481.52 million in 2023 and is anticipated to grow at a CAGR of 35.8% over the forecast period.
The List of Companies - Simultaneous Localization and Mapping Market
- ANAVS GmbH
- Applanix
- Exyn Technologies Inc
- FARO Technologies Inc
- Kudan Inc
- Kuka AG
- Leica Geosystems AG
- Leishen Intelligent System Co., Ltd.
- MAXST Co Ltd
- NavVis GmbH
- Nexxis
- Rethink Robotics GmbH
- Sevensense Robotics AG
- Slamcore Ltd
- Visimind AB
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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