SLAM Technology Market Is on Track To Hitting $3,747.8 Million by 2030

Posted April 7, 2023 by Ananyjoshi

Computer vision systems employ a sort of technology called simultaneous localization and mapping (SLAM) to gather visual data from the outside environment using a range of built-in sensors.

Computer vision systems employ a sort of technology called simultaneous localization and mapping (SLAM) to gather visual data from the outside environment using a range of built-in sensors. SLAM technology transforms this data into a distinct format that is easier for machines to understand and interpret using visual cues.

Indoor devices had a hard time locating themselves in their environment and comprehending the map of their operational environment prior to the invention of SLAM technology. Because localization needed surrounding area maps and surrounding region maps needed localization, this dilemma was referred to as the "chicken and egg" conundrum.

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The key development factors for the worldwide SLAM technology market are the rise of autonomous cars, the proliferation of AR applications, and the increased use of unmanned aerial vehicles (UAVs). The market is anticipated to produce $3,747.8 million in revenue in 2030 as a result of the aforementioned reasons.

The chicken-and-egg problem is resolved by the SLAM technology, which simultaneously tackles the localization and mapping concerns.

The development of SLAM technology has proven to be a game-changer in augmented reality. The various advantages of SLAM technology, such as improved precision and efficiency, are increasingly displacing marker-based technology.

In marker-based technology, a specified picture must be put in front of the device's camera to experience AR.

The biggest challenge with marker-based AR was the need to produce a picture in order to enjoy augmented reality. This problem has been resolved since SLAM-based AR makes use of sensors to precisely identify the physical surroundings.

In addition, the need for SLAM technology is divided depending on application into UAV, robotics, autonomous vehicle, AR/VR, and others. Due to the growing usage of UAVs across various industries, the UAV category is anticipated to develop the quickest among them. UAVs can carry out reconnaissance, surveillance, position mapping, and intrusion detection thanks to SLAM technology.

Due to the increased need for robots across several sectors, including logistics and warehousing, military and security, entertainment, agriculture, healthcare, public relations, and domestic, the industry for service robots has expanded.

The growing degree of consumer awareness is another important factor supporting the growth of such robots in the market.

Domestic robot uses accounts for a sizable share of the demand for service robots. It is highly challenging to include autonomous capabilities in household and domestic robots. Procedures are growing more complicated as a result of the disorganized home environment.

In this manner, SLAM technology enables robots to pinpoint their locations and map their surroundings.

Recently, advances in UAV technology have been made in sensors, CPUs, machine learning, and AI. Developers of UAV technology are creating AI-based collision prevention systems that act quickly when BVLOS obstacles are detected.

Over 7000 flights were used to test Iris Automation's AI-based collision avoidance system. Drones' automaticity and BVOS range are increased when cutting-edge technology, such as AI-powered sense-and-avoid systems, are integrated onto them.

Autonomous vehicles and self-driving automobiles are thought to be the future of transportation. These cars move with the least amount of help while perceiving their near environment. Several significant international automakers are pursuing the development of driverless vehicles.

SLAM technology is used by Google's Waymo self-driving car initiative to enable autonomous mobility. Using information from LiDAR and other sensors, this system creates a map of the region surrounding the automobile as it travels.
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Issued By Anany Joshi
Country India
Categories Business , Free , Industry
Tags slam technology market , slam technology market size , slam technology market share , slam technology market demand , slam technology market growth , slam technology market trends
Last Updated April 7, 2023