The SLAM market is projected to be valued at USD 465 million by 2023 from USD 101 million in 2018, growing at a CAGR of 35.77% during the forecast period. Major drivers for the market’s growth are the advancements in visual SLAM algorithm, growth of SLAM in augmented reality (AR), and growing demand for self-locating robotics in homes and enterprises.
Key players in the SLAM market include Intel (US), Microsoft (US), Alphabet (US), Amazon Robotics (US), Apple (US), Clearpath Robotics (Canada), Aethon (US), The Hi-Tech Robotic Systemz (India), Facebook (US), Intellias (Ukraine), Magic Leap (US), Rethink Robotics (US), Skydio (US), Navvis (Germany), and Mobile Industrial Robots APS (Denmark). These players mainly adopt strategies such as product and solution launches and partnerships and collaborations to enhance their business and product line, which helps them to grow in the SLAM market.
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Top two players in the SLAM market:
Intel designs, manufactures, and sells computers and networking and communications platforms globally. It develops computer vision and machine learning-based sensing products, and mapping and driving policy technology solutions for advanced driver assistance systems and autonomous driving technologies. With respect to the SLAM market, the company focused on inorganic strategies (acquisitions, partnerships, and collaborations) during 2016-2017. For instance, in August 2017, Intel acquired Mobileye (Israel) to develop automated driving cloud-to-car solutions. This acquisition positioned Intel as a leading technology provider in the fast-growing fully autonomous vehicles market. This acquisition also enabled it to expand its geographic footprint and position itself in the automotive industry in Israel.
Microsoft offers cloud-based application programming interface (API) for the SLAM market. It provides developers access to advanced algorithms for processing images and returning information. With respect to SLAM technology, the company mainly focuses on machine learning and deep learning. In the SLAM market, it mainly focused on inorganic strategies, such as partnerships, to withstand competition. For instance, in May 2018, DJI (China) partnered with Microsoft to bring Microsoft’s advanced AI and machine learning capabilities into DJI drones.
Simultaneous Localization and Mapping Market by Offering (2D SLAM, 3D SLAM), Type (EKF SLAM, Fast SLAM, Graph-Based SLAM, LSD SLAM, S-PTAM, ORB-SLAM, and ORB-SLAM2), Application (Robotics, UAV, AR/VR, Automotive), and Geography - Global Forecast to 2023
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