The market for Simultaneous Localization and Mapping (SLAM) was valued at approximately US$ 481.52 million in 2023 and is projected to grow significantly, reaching around US$ 5,572.53 million by 2031. This growth represents an impressive compound annual growth rate (CAGR) of 35.8% from 2023 to 2031.
The SLAM market is divided into five key regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2023, North America led the market, followed closely by the Asia Pacific region and Europe. Notably, in June 2024, ABB Ltd. launched the T702, a tug-style autonomous mobile robot (AMR) that utilizes Visual SLAM navigation to generate a comprehensive 360-degree point cloud, enabling it to navigate effectively in dynamic environments.
The increasing significance of last-mile delivery is propelling the demand for unmanned aerial vehicles (UAVs). The primary focus is on enhancing reliability, improving customer satisfaction, and boosting the competitiveness of the product delivery ecosystem. Consequently, the demand for small drones is on the rise across Europe, which is expected to further stimulate the growth of the SLAM market. Additionally, the heightened governmental emphasis on advancing the healthcare sector is expanding the applications of SLAM technology. For instance, the European Union allocated a budget of US$ 5.81 billion (?5.3 billion) for healthcare initiatives from 2021 to 2027. The rapid technological advancements, particularly the integration of innovative technologies like image-based SLAM (V-SLAM) in healthcare, are also contributing to this growth.
China plays a pivotal role in the Asia Pacific SLAM market, being a major contributor to the sector. In 2022, China accounted for approximately 52% of global robot installations, presenting substantial opportunities for SLAM technology within the country. The increasing adoption of industrial robots and the integration of smart autonomous technologies across various sectors, including automotive, healthcare, and manufacturing, are anticipated to drive the growth of the SLAM market in China. Furthermore, the presence of prominent space technology organizations such as Beijing Spacecraft Manufacturing Co., Ltd., China Aerospace Science and Technology Corporation, and Kongtian Dongli is a significant factor in the market's expansion. The development of new products and strategic collaborations are key drivers of growth for the SLAM market in China.
The SLAM market is categorized based on offerings into two segments: 2D SLAM and 3D SLAM. In 2023, the 2D SLAM segment captured the largest share of the market. This technology is predominantly utilized in service robots, indoor sweepers, cleaning robots, and automated guided vehicles in warehouses. Its widespread application in indoor settings is attributed to its operational flexibility and stable performance. 2D SLAM simplifies the mapping process for robots by excluding dynamic objects from the environment, thereby generating accurate maps. The importance of 2D SLAM technology is underscored by its ability to precisely locate mobile robots in unfamiliar environments, effectively addressing challenges related to localization accuracy and real-time performance that traditional mobile robots face.
Key players in the Simultaneous Localization and Mapping market include Sevensense Robotics AG, Rethink Robotics GmbH, NavVis GmbH, Kudan Inc, Exyn Technologies Inc, Slamcore Ltd, MAXST Co Ltd, FARO Technologies Inc, ANAVS GmbH, Nexxis, Kuka AG, Leica Geosystems AG, Applanix, Leishen Intelligent System Co., Ltd., and Visimind AB, all of whom are profiled in this market analysis.
The overall size of the Simultaneous Localization and Mapping market has been determined through a combination of primary and secondary research methods. Extensive secondary research was conducted using both internal and external sources to gather qualitative and quantitative data related to the SLAM market size. This approach also facilitated an overview and forecast of the market across all segments. Additionally, numerous primary interviews were held with industry stakeholders to validate the findings and gain deeper analytical insights. This process involved engaging with industry experts, including VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the SLAM market.