Unprecedented Revenue Jump Predicted in Global SLAM Technology Market During 2020—2030

The global simultaneous localization and mapping (SLAM) technology market generated a revenue of $152.2 million in 2019 and is predicted to reach a valuation of [**$3,775.3 million**](https://www.psmarketresearch.com/market-analysis/slam-technology-market-report) in 2030. Furthermore, the market is predicted to advance at a CAGR of 38.3% between 2020 and 2030. The rising popularity of augmented reality (AR) applications, the increasing usage of unmanned aerial vehicles (UAVs), and the development of autonomous vehicles are the main growth drivers of the market.


The rapid development of autonomous vehicles is a major factor driving the advancement of the SLAM technology market around the world. The rising requirement for efficient, productive, and safe driving options and the growing popularity of connected vehicle technology in various countries are massively pushing up the sales of autonomous vehicles across the globe. These vehicles have the ability to significantly reduce the incidence of road accidents and fatalities, on account of their advanced sensing capabilities.

Additionally, autonomous vehicles consume lesser fuel and generate lesser CO2 emissions than the conventionally used automobiles. This is making them highly popular all over the world. The rising popularity of AR applications in various industries is also propelling the expansion of the market. Currently, AR is being widely used in various applications such as industrial development and healthcare. For example, in the healthcare industry, AR is being heavily used for surgery, vein visualization, training, and 3D medical imaging.

Depending on type, the SLAM technology market is divided into fast, Extended Kalman Filter (EKF), and graph-based. Amongst these, the EKF category recorded the highest growth in the market in the past. This was because of the large-scale utilization of the EKF algorithm, due to its ability to exhibit constant behavior, in terms of state variables, for a long period of time. Furthermore, EKF has a lower algorithm complexity than the other algorithms.

When application is taken into consideration, the SLAM technology market is classified into unmanned aerial vehicle (UAV), robotics, augmented reality/virtual reality (AR/VR), and autonomous vehicle. Out of these, the AR/VR category is predicted to register the fastest growth in the market in the coming years. This would be due to the growing usage of AR/VR devices in various industries. SLAM technology is required in these devices for different purposes such as location recognition, location tracking, display, interaction, and graphics.

Globally, the SLAM technology market is predicted to demonstrate lucrative growth in the Asia-Pacific (APAC) region in the upcoming years. The main factors powering the advancement of the market in this region are the rapid economic development, the surging IT spending, expanding manufacturing sector, especially in India and China, the rising UAV penetration, soaring applications of AR, and the increasing usage of drones in the manufacturing and automotive industries in the regional countries.

Hence, it can be said with certainty that the market would exhibit huge expansion all over the world in the coming years, mainly because of the rising usage of AR/VR devices-integrated with SLAM technology in various industries and the increasing deployment of autonomous vehicles in several countries around the world.