Simultaneous localization and mapping (SLAM) involves the mapping of a space, while keeping track of a device's location within that space. This is what allows for mobile mapping, which is the most-important technology for the success of autonomous vehicles. Because areas can be examined using mobile, robots, drones, and automobiles, it allows for map building of enormous areas in much less time. SLAM systems make data collection easier, and they can be utilized in both outdoor and interior settings.
SLAM technology is being already applied in a variety of sectors, as it has significantly improved the ability to map and analyze settings, whether people are indoors, outdoors, in the air, or underground. The worldwide SLAM technology market accounted for $157.5 million in sales revenue in 2021, and it is set to grow with a CAGR of 42.2% from 2021 to 2030, ultimately reaching $3,747.8 million. The introduction of autonomous cars, growing number of AR-integrated apps, and rapid acceptance of unmanned aerial vehicles (UAVs) are all contributing to the market's growth.
Read Full Report: SLAM Technology Market Revenue Estimation and Growth Forecast Report
To deploy SLAM, there are two sorts of technological components that are needed. The first is sensor signal processing, which includes front-end processing and is heavily reliant on the sensors employed. Pose-graph optimization, which includes sensor-agnostic back-end processing, is the second requirement. SLAM systems are quite accurate, now that cameras are being utilized to record data. Monocular cameras are utilized for solutions that are less expensive and physically smaller. Stereo cameras (two cameras) can determine depth in the third dimension, but only to a certain extent.
Based on application, the UAV category is expected to advance at the quickest rate in the SLAM technology market throughout the decade. This can be attributed to the growing usage of UAVs across many sectors for surveillance, reconnaissance, location mapping, and intruder detection. Since all these functionalities need SLAM, the demand for it will grow rapidly. Earlier the prized possessions of militaries, the demand for UAVs in commercial applications has begun to grow since the legalization of such products by governments for civilian use.
Furthermore, one of the major aspects raising the need for this technology is the introduction of autonomous cars. The requirement for them is rising as the connected car technology advances and the necessity of productive, safe, and economical driving solutions rises. These cars emit less CO2 and use less gasoline, thus advancing their appeal among the population. These vehicles have an inertial navigation system, SLAM technology, a variety of sensors, a laser rangefinder, and radar, which allow them to sense and navigate their surroundings and move on their own.
Moreover, visual SLAM advancement is a prominent trend in the worldwide SLAM technology market growth. With a variety of applications, visual SLAM is becoming a crucial advancement in embedded vision. It is a system that uses 3D vision to conduct mapping and location functions. This technology is being employed in a broad range of applications, from AR to field robotics, due to the availability of low-cost sensors, such as cameras and laser rangefinders, and a major rise in computer processing speed.
