SLAM Technology Market 2019 - Autonomous Vehicle Platform Segment to Gain Enormous Proceeds by 2024

Various companies operating in the SLAM technology market are also entering into strategic partnerships to expand their 3D SLAM mapping technology

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 industry.

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Growth drivers
• Growth in automation across varied industries
• Minimal hardware requirement with enhanced accuracy
• Increasing demand from a varied range of industries
• Rising prominence of mapping technologies in domestic robots
• Enhanced adoption of UAV application

Owing to the rapid adoption of advanced technologies by diverse industrial sectors, the simultaneous localization and mapping (SLAM) technology market has been witnessing gradual increase in demand over the last decade. Unprecedented growth in digital and remote communication technology has accelerated the development of robots and UAVs, which are ideal for installing sensors and mapping systems. The eagerness of core industries to utilize modern technology for replacing human workforce in hazardous or time consuming tasks has further pushed the SLAM technology market penetration. Constant innovations in robotics are providing more opportunities to integrate new systems that help in achieving cost-efficiency across distinct processes, boosting demand for the global SLAM technology market, which registered a valuation of over USD 56 million in 2017.

The 2D motion segment dominated the SLAM technology market in 2017. 2D motion is being widely used in robot mapping technologies but is unable to produce 3D information. Landmarks not falling within their measurement plane cannot be observed, leading to a growth in the demand for 3D motion SLAM. In 2014, Google introduced Cartographer for performing real-time SLAM in 2D and 3D across numerous platforms and sensor configurations. The cartographer is used in a large number of applications from mapping transit hubs and museums to enabling new visualizations of buildings, expanding its use in the SLAM technology industry.

Various companies operating in the SLAM technology market are also entering into strategic partnerships to expand their 3D SLAM mapping technology. For instance, in July 2017, NavVis, a leading indoor mapping, navigation, and visualization company partnered with Engie, a leading facility management service provider. This partnership will enable Engie to deliver a comprehensive digital solution using the NavVis advanced technology in its facility management service portfolio. Engie will provide 3D mapping and scanning using the company's M3 Trolley, providing customers an access to a 3D digital model using the SLAM technology.

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 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.

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.

Some Points From Table Of Content: -
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

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