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Simultaneous Localization and Mapping Market: By Type, By Offering, By Application and Geography
Simultaneous Localization and Mapping Market: By Type, By Offering, By Application and Geography
Simultaneous Localization And Mapping Market was valued at US$ 174.2 million in 2022 and is poised to grow at a CAGR of 41.2% from 2023-2029. Some of the key factors propelling the market growth include rise in the acceptance of simultaneous localization and mapping in UAV, robot, and augmented reality applications, growing adoption of automation across industries in emerging countries, advancements in visual SLAM algorithm and proliferation of cloud-based visual SLAM for outdoor applications. However, factors such as limitation of SLAM in dynamic environments and incorrect initialization and loop closure can significantly alter SLAM accuracy are hampering the market growth.
Study Period
2024-2030Base Year
2023CAGR
41.2%Largest Market
North AmericaFastest Growing Market
Asia-Pacific
Simultaneous Localization and Mapping (SLAM) consists in the concurrent construction of a model of the environment (the map), and the estimation of the state of the robot moving within it. The SLAM community has made astonishing progress over the last 30 years, enabling large-scale real-world applications, and witnessing a steady transition of this technology to industry Simultaneous Localization and Mapping (SLAM) refers to the problem of using various sensors like laser scanner, RGB cameras, RGB-D cameras, etc, to estimate the position of the robot, and concurrently construct the 2D/3D map of the environment. In order to establish the position of a robot, a vehicle, or a moving camera in an environment, and at the same time, construct a representation of the explored zone. SLAM is an essential task for the autonomy of a robot. The computer vision techniques employed in visual SLAM, such as detection, description and matching of salient features, image recognition and retrieval, among others, are still susceptible of improvement.
Asia Pacific accounted for larger revenue share in global simultaneous localization and mapping market with considerable CAGR. The growth in this region can be attributed to growing demand for automation, mainly in the manufacturing sector. Moreover, the growth of smart devices along with the rising demand for improved features has also boosted the market growth. In addition, China is likely to acquire significant share in Asia Pacific SLAM market, followed by Japan and South Korea.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 174.2 million |
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Market CAGR |
41.2% |
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By Type |
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By Offering |
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By Application |
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Asia Pacific is the fastest-growing for simultaneous localization and mapping market
The simultaneous localization and mapping market size was valued at US$ 174.2 million in 2022
The simultaneous localization and mapping market key players are: Intel (US), Microsoft (US), Alphabet (US), Amazon Robotics (US), Apple (US)
Table of Content
16. Key Assumptions and Acronyms
Key Market Players
Author
Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of experience in the field of market research. Sravani is adept at creating competitive evaluations, precise market estimations, and market projections, emphasizing the food and beverage and information and communication technology (ICT) industries. Her areas of competence are identifying important players, projecting market trends, and assessing the potential for industry growth. She applies a strong analytical approach to provide precise market estimates and thorough industry analysis, empowering organizations to make data-driven decisions. Sravani's estimating and forecasting abilities are essential for businesses to take advantage of new opportunities and effectively manage dynamic market environments.