The global simultaneous localization and mapping (SLAM) technology market is predicted to progress at a CAGR of 38.3% from 2020 to 2030 and attain a valuation of $3,775.3 million by 2030. The main factors propelling the advancement of the market are the increasing utilization of unmanned aerial vehicles (UAVs), development of autonomous cars, and the ballooning number of AR (augmented reality) applications across the world.
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On the basis of type, the SLAM technology market is categorized into graph-based, fast, extended Kalman Filter (EKF), and others. Out of these, the EKF category had the highest SLAM technology market share in 2019. This is ascribed to the large-scale usage of the EKF algorithm in comparison to the other algorithms, on account of the fact that it provides consistent behavior over a longer time period.
Furthermore, the EKF possesses a lower algorithm complexity as compared to the others, owing to which, it is highly sought after in various applications. This algorithm is mainly used in 2D environment mapping applications. Depending on offering, the 3D category is predicted to record faster market growth in the coming years.
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This market research report provides a comprehensive overview of the SLAM technology market
- Historical and the present size of the SLAM technology market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential