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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Depending on offering, the 3D category is predicted to record faster market growth in the coming years. This is because of the increasing adoption of the 3D SLAM technology in AR (augmented reality)/VR (virtual reality) applications. The main reason behind the large-scale utilization of 3D technology in these applications is the fact that these applications require the accurate mapping of the physical environment in order to achieve completely accurate projection of the virtual images on the physical space and this level of precision can only be provided by 3D technology.
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 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.
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Globally, the Asia-Pacific (APAC) SLAM technology market is predicted to exhibit the most lucrative growth in the forthcoming years. The key factors fuelling the progress of the market in this region are the increasing spending in information technology (IT) sector, improving manufacturing infrastructure and growing manufacturing sector, especially in India and China, rapid economic growth, and increasing utilization of drones in the manufacturing and automotive industries in the region.
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Based on Offering
Based on Type
Based on Application
Based on End User
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