Skip to main content

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

Comments

Popular posts from this blog

Farm Management Software and Data Analytics Market Future Prospects And Competitive Analysis 2020-2026

The growth in the global farm management software and data analytics market is expected to be driven by increasing demand for agricultural mechanization and automation along with increasing average farm size in certain countries such as Australia and Canada. Report Preview is available at: https://bisresearch.com/industry-report/global-farm-management-software-data-analytics-market.html Farm management software and data analytic solutions not only offer increased transparency in the agricultural field but also decrease the chances of pest attack and crop failure. Increased agricultural production will help in catering to the growing population and uplifting the global agricultural industry. A major factor driving the farm management software and data analytics market is the increase in government initiatives and support toward agricultural digitization. Government initiatives increase the awareness regarding the farm management software and the benefits these solutions entail when appl...

Unmanned Aerial Vehicles (UAV) Market

This report is intended to be a comprehensive study of the global Unmanned Aerial Vehicles (UAV) market . The report focuses largely on providing market information for UAVs, covering stakeholder analysis and geography. Further, the market estimated for UAVs considered “2017-2021” as the forecast period. The research methodology design adopted for this specific study includes a mix of data collected from primary and secondary sources. The research exhaustively use both primary sources (in-house experts, industry leaders and market players) and secondary sources (a host of paid and unpaid databases) along with analytical tools to build forecast and predictive models. Primary Data Sources The primary sources involve the industry experts from the Unmanned Aerial Vehicles (UAV) industry including the experts from drone manufacturers, software providers and key innovators among others. Primary resources such as CEOs, vice presidents, marketing directors, and technology directors, a...

Intelligent Lighting Controls Market Report

The report constitutes an extensive study of intelligent lighting controls market. It includes a thorough analysis of different component types as well as different connection types used in the intelligent lighting controls. Intelligent lighting controls market has further been segmented in terms of application which helps in understanding the behavior of different verticals in using intelligent lighting controls. It further explains the driving forces, challenges and growth opportunities of the intelligent lighting controls market. Major players have been identified on the basis of revenue generation, geographical presence and developments related to intelligent lighting controls. A detailed company profiling has been done in order to understand the player’s strategic behavior. The intelligent lighting controls market is further explained and analyzed on the basis of geography. The geographical analysis has been categorized into four regions namely: North America, Europe, Asia-Pa...