Adoption of simultaneous localization and mapping (SLAM) technology is estimated to grow rapidly during the forecast period

The recent study on the simultaneous localization and mapping market covers an in-depth analysis of the market on the basis of type, offering, application, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2019-2024.

According to the report titled “Simultaneous Localization and Mapping Market – Forecast from 2019 to 2024”, the market is estimated to witness an exponential growth throughout the course of the forecast period. The report has segmented the simultaneous localization and mapping market by type (EKF SLAM, Fast SLAM, Graph-based SLAM, others), by offering (2D, 3D), by application (robotics, automotive, unmanned aerial vehicle, AR/VR, others) and by geography such as Americas (United States, Canada, Brazil, others), Europe Middle East and Africa (Germany, France, United Kingdom, Italy, others), and Asia Pacific (China, Japan, India, Taiwan, others). The growing indoor applications of robotics is significantly driving the demand for simultaneous localization and mapping technology. In fact, the value of service robots sold increased by 39% to US$6.6 billion while the total number of robot sold by volume increased by 85% in 2017 as compared to 2016 (Source: International Federation of Robotics). Furthermore, the ability of the SLAM technology to quickly finish the set of operations as compared to other available technologies is leading to growing popularity and demand.

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The Asia Pacific is estimated to hold a significant share in the market.
Asia Pacific simultaneous localization and mapping market is estimated to hold a significant share on account of the growing production of robots in the region. In fact, the production capacity of Japan-based firms for industrial robots reached 153,000 in 2016, delivering 52% of the global supply (source: International Federation of Robotics). Simultaneously, the government of South Korea has recently announced its plans to provide aid and promote local manufacturers in order to boost the production of robots in the country.
Some of the major players discussed in the reports are Intel Corporation, Skydio, and Intellias among others.

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