From GlobeNewswire: 2024-11-19 09:05:00

The global simultaneous localization and mapping market is experiencing significant growth, driven by applications in various industries like oil & gas, automotive, and manufacturing. The market is valued at $481.52 million in 2023 and is expected to grow at a CAGR of 35.8% during 2023-2031, according to a report from The Insight Partners.

Technological innovations in factory automation and robotic technologies are boosting the growth of the simultaneous localization and mapping market, with a focus on resource optimization and energy efficiency. The market is witnessing a surge in demand for SLAM solutions across various sectors.

The simultaneous localization and mapping market is segmented based on offerings, system types, applications, and geographical regions. North America leads the market in 2023, followed by Europe and Asia Pacific. Different segments like 2D and 3D SLAM, camera-based and LiDAR-based systems, robotics, UAVs, and automotive applications are driving market growth.

Key players in the simultaneous localization and mapping market include Sevensense Robotics AG, Rethink Robotics GmbH, NavVis GmbH, and more. These companies are adopting strategies like new product launches and partnerships to maintain a competitive edge.

Recent developments in the market include strategic partnerships between Kudan and XGRIDS for digital twin and autonomous mobile robot markets, as well as collaborations between Sandvik and Exyn for underground mining optimization. These partnerships aim to accelerate technological advancements in the industry.

The simultaneous localization and mapping market is expected to reach $5,572.53 million by 2031, presenting opportunities for solution providers and investors. With a focus on market trends, innovation, and quality, companies can position themselves for success in this dynamic market landscape.



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