Simultaneous Localization and Mapping (SLAM) technology aids in the localization and positioning of a robot or a device in real-time using mathematical and statistical algorithms with different sensors. Major tech companies are focusing on SLAM technology to offer an enhanced AR/VR experience with peripherals such as HTC Vive, Playstation, and others equipped to provide an immersive VR experience. For instance, Google’s AR platform, Tango, uses advanced SLAM to interact with the surroundings.
Advancements in AR/VR Technology to Drive the SLAM Technology Market
SLAM technology is vital for an array of emerging devices such as AR/VR technology. It enables highly accurate 3D mapping and flexibility of a device surrounding and subsequently, offers an improved AR/VR experience as compared to marker-based solutions, which can map only the floor and not the complete surroundings.
Solid-State LiDAR to Hold a Larger Market Share than Traditional LiDAR Systems
Solid-state LiDAR offers a cost-effective solution when compared with mechanical LiDAR systems. Thus, the technology is expected to drive a significant share of the demand during the forecast period. LiDAR systems are highly expensive, sensitive to movements, and difficult to manufacture, but are highly beneficial in developing 3D maps of the environment. Solid-state LiDAR is a system built entirely on a silicon chip, making it more resilient to vibrations, which makes production cheaper.
North America is expected to witness dynamic growth in the SLAM technology market, backed by the presence of prominent market players such as Google, Amazon Robotics, and Microsoft Corporation, among others. With a well-established economy, North America observes significant investments in new technologies for innovative solutions, which in turn drives the demand for SLAM technology in the region.
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Europe is expected to witness significant growth in the SLAM technology market during the forecast period, owing to the rising adoption of robots and UAV technologies in the region. Advancements in drones and robots integrated with localization and mapping techniques are further expected to fuel the demand for SLAM technology in the region.
Asia-Pacific is expected to witness considerable growth in the SLAM technology market with emerging economies in the region accelerating the demand for automation in the manufacturing sector for industrial robots. LAMEA is expected to experience stable growth in the SLAM technology market on account of the increasing adoption of technological advancements across several untapped regions possessing potential opportunities for market growth.
Some of the key players in the global SLAM technology market are Aethon, Amazon Robotics, Apple Inc., Ascending Technologies GmbH, Clearpath Robotics, Facebook, and Google.
In May 2019, GeoSLAM announced the launch of ZEB PANO for the property sector, which offers property professionals the ability to capture floorplans and hi-res photography simultaneously.
SLAM Technology Market Segmentation
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