Simultaneous Localization and Mapping Market Size and Competitive Analysis by 2031

The simultaneous localization and mapping market size is expected to reach US$ 5,572.53 million by 2031 from US$ 481.52 million in 2023. The market is estimated to record a CAGR of 35.8% from 2023 to 2031. The utilization of SLAM technology in space applications is likely to trend in the market.

Simultaneous Localization and Mapping Market Analysis

Rising number of oil & gas plants, increasing government initiatives to build renewable power plants, and rising industrialization are fueling the demand for technologies to monitor, track, and map plant environment and provide a complete view of the plant. This, in turn, helps mitigate some of the major operational challenges. The growing number of oil & gas, mining, and construction projects in remote areas is boosting the expansion of the simultaneous localization and mapping market across the globe.

The increase in substantial investments in the automotive and advanced air mobility sectors boosts the simultaneous localization and mapping market growth. The growing use of simultaneous localization and mapping software in space technologies and unmanned aerial vehicles bolsters the growth of the simultaneous localization and mapping market globally.

Simultaneous Localization and Mapping Market Overview

Development of the simultaneous localization and mapping market is driven by the growing application of various localization, tracking, and mapping techniques in oil & gas, utility, automotive, mining, construction, agriculture, and manufacturing industries. In addition, the increasing application of factory automation and robotic technologies across different sectors for optimum utilization of resources to boost energy efficiency and time management is propelling the growth of the simultaneous localization and global mapping market.

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Simultaneous Localization and Mapping Market: Strategic Insights

Simultaneous Localization and Mapping Market

• Market Size 2023
  US$ 481.52 Million
• Market Size 2031
  US$ 5,572.53 Million

Market Dynamics

GROWTH DRIVERS

• Rising Adoption of Autonomous Vehicles Globally
• Increasing Advent of Industrial Mobile Robotics
• Surging Significance of Small Unmanned Systems for Cargo Deliveries

FUTURE TRENDS

• Utilization of SLAM technology in Space Applications

OPPORTUNITIES

• Integrating SLAM Technology in Metaverse Augmented Reality
• Growing Significance of Advanced Algorithms of SLAM Technology in Healthcare

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Offerings

• 2D SLAM
• 3D SLAM

System Type

• Camera Based
• LiDAR Based

Application

• Robotics
• UAV
• AR or VR
• Automotive
• RTLS

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Simultaneous Localization and Mapping Market Drivers and Opportunities

Rising Adoption of Autonomous Vehicles Globally

Simultaneous localization and mapping (SLAM) is a technological mapping method that allows autonomous vehicles to fabricate a map and localize themselves on the map at the same time. Localization and mapping are required to be combined to get an updated estimate of the map along with an efficient location of the vehicle. SLAM solutions can help autonomous vehicles locate themselves where maps are not available currently or have low connectivity. Moreover, using SLAM, the vehicle can autonomously navigate an unfamiliar environment by developing a map and simultaneously localizing itself.

The growing development in the automotive industry with the integration of advanced technologies is driving the adoption of autonomous vehicles globally. SLAM is employed by leveraging multi-sensor fusion-driven techniques. Sensors include an inertial navigation system (INS), light detection and ranging (LiDAR), high-definition maps (HD Map), and a global positioning system (GPS). The rising number of autonomous vehicles boosts the growth of the simultaneous localization and mapping market. In 2021, Microsoft partnered with Volkswagen Group's CarSoftware Organization to fabricate self-driving cars. General Motors purchased the self-driving startup Cruise in 2016. Cruise began its San Francisco autonomous driving taxi services in 2021. In 2024, the Cruise self-driving vehicle inventory count was 300 cars, and the company predicts to reach ~US$ 1 billion in revenue by 2025. In September 2024, Uber Technologies, Inc. and Waymo LLC expanded their existing partnership to make the availability of Waymo Driver for users. Starting in early 2025, Waymo and Uber are anticipated to bring autonomous ride-hailing to Atlanta and Austin. In September 2024, Tesla announced to introduce its complete self-driving product in Europe and China in early 2025. Thus, the growing development in the automotive sector with the advancement of autonomous vehicles propels the growth of the global simultaneous localization and mapping market.

Integrating SLAM Technology in Metaverse Augmented Reality

AR offers a diverse array of experiences, each with distinctive features and applications, contributing to its increasing versatility and popularity. Metaverse is a combined virtual shared space that brings together the aspects of online gaming, virtual reality, social media, augmented reality, and other immersive technologies. The metaverse concept is an interconnected digital universe where individuals can relate with each other and with digital objects in real time.

SLAM is beneficial in navigation apps, interior design, and industrial applications, enabling the overlay of virtual information onto the real-world environment without specific markers. The concepts of AR and the metaverse are rapidly gaining global interest as the future of technology. In 2022, Epic Games received US$ 2 billion in funding from Sony and KIRKBI to advance Epic's metaverse expansion plans. In 2022, Autodesk, Inc. acquired The Wild, a cloud-connected, extended reality (XR) platform, which includes its namesake solutions, The Wild and IrisVR. Through the acquisition, Autodesk aims to meet the demand for AR and virtual reality (VR) technology advancements globally. In May 2024, Magic Leap signed a multi-faceted, strategic technology partnership with Google to bring a wider range of immersive AR/VR experiences to its end users. The developing SLAM technology and its increasing application in AR, VR, and the metaverse are offering lucrative opportunities in the market.

Simultaneous Localization and Mapping Market Report Segmentation Analysis

Key segments that contributed to the derivation of the simultaneous localization and mapping market analysis are offerings, system type, and application.

• Based on offerings, the simultaneous localization and mapping market is bifurcated into 2D SLAM and 3D SLAM. The 2D SLAM segment held a larger share of the market in 2023.
• By system type, the simultaneous localization and mapping market is categorized into camera based and LiDAR based. The camera-based segment dominated the simultaneous localization and mapping market in 2023.
• In terms of application, the simultaneous localization and mapping market is segmented into robotics, UAV, AR/VR, automotive, RTLS, and others. The robotics segment held the largest share in the simultaneous localization and mapping market in 2023.

Simultaneous Localization and Mapping Market Share Analysis by Geography

• The simultaneous localization and mapping market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Asia Pacific and Europe.
• The Asia Pacific simultaneous localization and mapping market growth is attributed to technology innovation and strategic collaborations. With a strong focus on advancing air mobility, satellite launches, industrial automation, and robotics in Asia Pacific countries, including China, India, Australia, and Japan, have emerged as key players in the simultaneous localization and mapping market. Major industry contributors include leading aerospace and space companies such as Neumann; Space Machines Company; Beijing Spacecraft Manufacturing Co., Ltd; China Aerospace Science; Technology Corporation; and Kongtian Dongli. These companies are renowned for their initiatives in the space technology sector.
• The increasing modernization projects, including Singapore Changi, Beijing Capital International, and Incheon International, are fueling the overall construction sector. Countries such as Indonesia and Thailand are also investing in domestic infrastructural development with more focus on regional airports to improve connectivity. A total of 155 projects out of 425 airport and airport infrastructure development projects across the globe are under development in Asia Pacific with an investment of US$ 209 billion. With an investment of US$ 14.5 billion, Long Thanh International Airport in Vietnam is one of the largest airport development projects in Asia Pacific; it is expected to be completed by 2025. In addition, the expansion of Terminal 5 at Changi Airport, Singapore, is a project worth US$ 10 billion and is expected to be completed by 2030. The growing technological advancement in the construction sector is projected to drive the application of simultaneous localization and mapping technology in Asia Pacific.

Simultaneous Localization and Mapping Market Report Scope

Simultaneous Localization and Mapping Market News and Recent Developments

The simultaneous localization and mapping market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the simultaneous localization and mapping market are listed below:

• NavVis (a global leader in mobile mapping and reality capture) and HERE Technologies (the leading location data and services platform) have teamed up to bring high-definition indoor mapping and visual positioning to parking garage operators and transportation hubs. This partnership leverages three key technologies from NavVis: NavVis mobile mapping systems, NavVis IVION, and NavVis visual positioning technology.

(Source: NavVis, Press Release, February 2022)

• Kudan Inc. announced that Kudan has launched its new business, “Kudan Solution.” Kudan Solution supports the realization of various solutions/platforms that synchronize multiple products incorporating Kudan’s Artificial Perception technology and expand the applications of products using Kudan’s technology.

(Source: Kudan Inc., Press Release, June 2022)

Simultaneous Localization and Mapping Market Report Coverage and Deliverables

The "Simultaneous Localization and Mapping Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:

• Simultaneous localization and mapping market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Simultaneous localization and mapping market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Simultaneous localization and mapping market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the simultaneous localization and mapping market
• Detailed company profiles