Simultaneous Localization And Mapping Technology market size, share, revenue, trends and drivers for 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, June 24, 2024 /EINPresswire.com/ -- The simultaneous localization and mapping technology market has experienced robust growth in recent years, expanding from $0.38 billion in 2023 to $0.55 billion in 2024 at a compound annual growth rate (CAGR) of 44.9%. The growth in the historic period can be attributed to the rising adoption of autonomous vehicles, the increasing focus of the automobile industry, the increasing application of SLAM in augmented reality (AR), the rising demand for self-locating robotics in homes and enterprises, and the and the increasing demand for advanced technologies.

Strong Future Growth Anticipated
The simultaneous localization and mapping technology market is projected to continue its strong growth, reaching to $2.45 billion in 2028 at a compound annual growth rate (CAGR) of 45.1%. The growth in the forecast period can be attributed to increasing demand for unmanned aerial vehicles, growing demand for robots, demand for autonomous navigation and mapping solutions, the increasing adoption of SLAM technology in the industrial sector, and increasing demand for advanced technologies.

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Growth driver of the simultaneous localization and mapping technology market
Simultaneous localization and mapping (SLAM) is a technique used in robotics and computer vision to construct a map of an unknown environment while simultaneously tracking the location within that environment. This is useful in scenarios where GPS or other external localization methods are unavailable or unreliable such as indoor environments or in situations where high precision is required.

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Simultaneous Localization And Mapping Technology Market Major Players and Market Trends
Key players in the simultaneous localization and mapping technology market include Samsung Electronics Co. Ltd., Microsoft Corporation, Meta Technologies Inc., Huawei Technologies Co. Ltd., Hitachi Ltd., LG Electronics Inc.

Major companies operating in the simultaneous localization and mapping technology market focus on technological advancements such as remote sensing payload instrument solutions (RESEPI), to generate high-quality results. This RESEPI solution is a robust, reliable, and cost-effective solution for remote sensing applications requiring high-quality, accurate results.

Simultaneous Localization And Mapping Technology Market Segments:
1) By Type: Extended Kalman Filter (EKF), Fast, Graph-Based, Other Types
2) By Offering: Two-Dimensional (2D), Three-Dimensional (3D)
3) By Application: Unmanned Aerial Vehicle (UAV) And Robots, Augmented Reality (AR) And Virtual Reality (VR), Autonomous Vehicles, Other Applications
4) By End User: Commercial, Military, Agriculture And Forestry, Mining, Automotive, Manufacturing And Logistics, Household Appliance

Geographical Insights: North America Leading the Market

North America was the largest region in the simultaneous localization and mapping technology market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of simultaneous localization and mapping technology.

Simultaneous Localization And Mapping Technology Market Definition
Simultaneous localization and mapping (SLAM) is a technique used in robotics and computer vision to construct a map of an unknown environment while simultaneously tracking the location within that environment. This is useful in scenarios where GPS or other external localization methods are unavailable or unreliable such as indoor environments or in situations where high precision is required.

Simultaneous Localization And Mapping Technology Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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