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SLAM Technology Market 2020 - Regional Outlook and Competitive Strategies to 2024

Author : Ronak Bora | Published Date : 2020-08-25 

The manufacturing and logistics segments in the SLAM technology market are projected to grow at a CAGR of 72.8 percent over the forecast timespan. The integration of SLAM into an automatic guided vehicle within a manufacturing system assists in pick & place tasks, allowing the automated guided vehicle to pick and deliver products with the manufacturing system. Furthermore, extensive R&D activities are going on in this field to develop innovative SLAM-based manufacturing applications, enhancing its capability and functionality features.

The robot platform dominates the SLAM technology market and held around 94.7% of the market share in 2017. These robots perform complex tasks that need navigation in dynamic and intricate indoor and outdoor surroundings without any human support. With the integration of SLAM technology, the robots have become technologically advanced, offering precise and flexible solutions, making them a preferred choice for a wide range of applications. These include military services, car production, space exploration, remote & invasive surgery, underwater exploration, fixing oil spills, investigating hazardous environments, and commercializing agriculture. For instance, the SLAM-based surgery robots conduct invasive surgeries by navigating inside or outside the patient's body to discover the problem. They also have a great opportunity in image-guided surgeries within a static environment.

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The autonomous vehicle platform segment is anticipated to grow at the fastest rate in the SLAM technology market. The car makers and technology companies are together working toward improving the reliability and mechanics of self-driving vehicles. Various companies are investing in the autonomous vehicle industry to meet the growing customer safety requirements. For instance, in November 2017, Arbe Robotics, an Israel-based startup raised a funding of USD 9 million for building high-resolution radars, offering enhanced safety features to the autonomous cars. This radar works efficiently regardless of the exterior conditions, providing accurate vision to the autonomous vehicle. Along with the radar, the company uses SLAM algorithm, providing improved target separation, enhanced resolution, and removal of false alarms, expanding its adoption rate in the SLAM technology market.

In the imminent future, integrating simultaneous localization and mapping technology with autonomous mobile robots would be an effective way to build accurate 3D maps of underground mines, helping to plan the overall operations. Aside from mining robots that would replace humans in hazardous environments, companies are also building robots that would work alongside people to assist them in analyzing quality of ore samples, carrying loads and other necessary devices. The SLAM technology industry will consequently experience a prolific growth rate over the next few years, with solutions being developed to automate mining activities. Key factors for the industry propagation would definitely be elimination of safety hazards, reduction in overall costs and time saving.

Benefitting from higher commodity prices, the top 40 mining companies globally had recorded earnings of nearly USD 496 billion in 2016, demonstrating the massive scale of mining activities and the potential to improve bottom lines. As old mines get exhausted, these companies are expected to start exploring new mines to keep the mineral supply flowing, indicating the possibility of significant expansion for the SLAM technology market. For instance, the Victoria Gold’s Eagle mine, under development in Canada, would become the biggest mine in the territory of Yukon with production anticipated to at 12.5 million tons per year across a 10-year life span. Further, the USD 2.9 billion South Flank iron ore mine in Australia being constructed by BHP is slated to commence production in 2021 and supply ore until at least 2046.

The Asia Pacific SLAM technology market is anticipated to grow at the fastest rate due to the presence of a large number of electronics and automotive industries with low manufacturing cost units. The increasing demand for automation in various sectors including healthcare, manufacturing, logistics, and agriculture and the rising aging population also contribute to the market growth. There is also an increase in the demand for the advanced robotics technology from SMEs for improving the production quality and efficiency, accelerating the SLAM technology adoption rate. Furthermore, with the increasing geopolitical tensions and a growing economy, the budget for the military is also increasing in this region, increasing the demand for advanced UAVs with a positive impact on the SLAM technology market growth.

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The companies operating in the SLAM technology market are investing funds to enter into strategic alliances and to develop innovative solutions, gaining a competitive edge in the market. Some of the major vendors in the SLAM technology market are Kuka AG, Parrot SA, Google, Facebook, Microsoft Corporation, Apple, SMP Robotics, Wikitude, Clearpath Robotics, Dibotics, Fetch Robotics, NAvVis, GeoSLAM Ltd., and Ascending Technologies GmbH.

Table of Contents (ToC) of the report:

Chapter 5.   SLAM Technology Market, By Motion

5.1.  Key trends, by motion

5.2.  2D      

5.2.1. Market estimates and forecast, 2015 - 2024

5.2.2. Market estimates and forecast, by region, 2015 – 2024

5.3.  3D

5.3.1. Market estimates and forecast, 2015 - 2024

5.3.2. Market estimates and forecast, by region, 2015 - 2024

Chapter 6.   SLAM Technology Market, By Platform

6.1.  Key trends, by platform

6.2.  Robot

6.2.1. Market estimates and forecast, 2015 – 2024

6.2.2. Market estimates and forecast, by region, 2015 – 2024

6.2.3. Market estimates and forecast, by motion, 2015 – 2024

6.3.  UAV

6.3.1. Market estimates and forecast, 2016 – 2024

6.3.2. Market estimates and forecast, by region, 2016 – 2024

6.3.3. Market estimates and forecast, by motion, 2016 – 2024

6.4.  Augmented Reality (AR)

6.4.1. Market estimates and forecast, 2017 – 2024

6.4.2. Market estimates and forecast, by region, 2017 – 2024

6.4.3. Market estimates and forecast, by motion, 2017 – 2024

6.5.  Autonomous Vehicle

6.5.1. Market estimates and forecast, 2019 – 2024

6.5.2. Market estimates and forecast, by region, 2019 – 2024

6.5.3. Market estimates and forecast, by motion, 2019 – 2024

Chapter 7.   SLAM Technology Market, By Application

7.1.  Key trends, by application

7.2.  Commercial

7.2.1. Market estimates and forecast, 2015 - 2024

7.2.2. Market estimates and forecast, by region, 2015 – 2024

7.3.  Household

7.3.1. Market estimates and forecast, 2015 – 2024

7.3.2. Market estimates and forecast, by region, 2015 – 2024

7.4.  Military

7.4.1. Market estimates and forecast, 2015 – 2024

7.4.2. Market estimates and forecast, by region, 2015 – 2024

7.5.  Agriculture & forestry

7.5.1. Market estimates and forecast, 2015 – 2024

7.5.2. Market estimates and forecast, by region, 2015 – 2024

7.6.  Mining

7.6.1. Market estimates and forecast, 2015 – 2024

7.6.2. Market estimates and forecast, by region, 2015 – 2024

7.7.  Manufacturing & logistics

7.7.1. Market estimates and forecast, 2015 – 2024

7.7.2. Market estimates and forecast, by region, 2015 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/simultaneous-localization-and-mapping-slam-technology-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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