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Simultaneous Localization and Mapping (SLAM) Technology is Anticipated to Grow at a CAGR of 66.6%


GPS technology today plays the most crucial role in the transport and infrastructure industry and finds its applications in several day-to-day activities such as shopping, searching locations, and traffic navigation. Despite offering a never-ending list of advantages, GPS technology has its share of disadvantages, inaccuracy and the inability to work inside a closed environment.

The simultaneous localization and mapping (SLAM) technology has emerged as an ideal solution to overcome the shortcomings of GPS technology. SLAM technology converts visual data from the physical world in a format that’s understandable for machines and helps produce suitable outputs. The technology has helped indoor machines in understanding maps of the local environment and adapt themselves according to the surroundings. 

At present SLAM technology is used for a variety of platforms such as robots, unmanned aerial vehicles (UAVs), augmented reality, and autonomous vehicles. Technology giants such as Apple Inc. and Google too are investing in developing SLAM technology-based products. Considering the immense potential that the technology holds and the popularity it is gaining, BIS Research published a market intelligence report titled “Global SLAM Technology Market – Analysis and Forecast (2018 - 2027).”

According to the study, the global SLAM technology market is projected to grow at a double-digit CAGR of 66.6% during the forecast period, 2018 - 2027 and reach $8229.4 million by 2027. The tremendous growth of the market can majorly be attributed to the refinement in the implementation of the technology and the growing demand of the technology from varied end-users, especially from the robotics industry. 

Additionally, the report by BIS Research examines the SLAM technology market for different platforms on the basis of end-users for the respective platform and the global SLAM technology market by region, and also discusses the company profiles of leading players investing in the market. 
With ongoing efforts from prominent players such as Google Inc., Apple Inc., Parrot, KUKA, and Amazon Robotics to develop high-end solutions and products based on SLAM technology, which is significantly expected to increase its area of application and end-users, and consequently, the market is expected to expand widely.

 Related Reports:

 Global Fixed-Wing VTOL Aircraft Market - Analysis and Forecast 2017-2026

 Global Nano Drones Market - Analysis and Forecast 2017-2023

 Global Multi-Rotor Drone Market - Analysis and Forecast 2016-2022

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