Tech Peak » Growing Popularity of Consumer Drones Driving Integration of SLAM Technology

Growing Popularity of Consumer Drones Driving Integration of SLAM Technology

by ananyjoshi
Middle East and Africa HVAC Market Segmentation Analysis Report

SLAM has the probability to be transformative across many different devices and technologies from mobile to autonomous automobiles. There are four areas where SLAM will advance and essentially change the lives of customers and businesses in the coming years. These areas are navigation, retail, social, and retail including day-to-day communications with friends, family, and fans online.

Read Full Report: SLAM Technology Market Revenue Estimation and Growth Forecast Report

Navigation will be Made Easy

SLAM will bring about a greater understanding of the physical environment – both outdoors and indoors so that improving it with virtual essentials becomes a possibility. As SLAM fetches position and mapping info to the software level then developers can make use of this and overlay the environment with illustrations helping users steer to their destination. This can be attained through a number of arrows marked on a street or an indoor corridor, or through simulated characters guiding people to their destination. SLAM by now reached millions of phones because of Google and Apple.

Gaming Like Never Before

SLAM will offer the environmental context to make games ‘on the go. Using Dense SLAM will be the ultimate goal for gaming, as the semantics will give creators huge freedom to express their imagination to engage users. Today’s Sparse SLAM is a massive advancement compared to what was there before. If the developers could offer an engaging and popular game like Pokémon Go deprived of SLAM, you can think of the endless possibilities of this technology. This possibility in gaming could be really thrilling progress for mobile devices.

Changing the Way, We Shop

SLAM could not just alter physical shopping, but online shopping as well. Online sellers could make use of the technology to provide a 3D virtual object contrary to real-world metrics. Consumers who shop online can then drag and drop the simulated object to see if it fits in the room. If the article fits in the virtual world, then users can be sure that it will certainly fit in their space. It is just like trying a virtual frame or clothing, that has more or less become a reality on the websites like Lenskart. So, SLAM is not only helping consumers buy the right things but also decreasing the number of products returned.

Changing the Way to Use social media

SLAM opens the door for the new potential for developers to transform the way that social media is used and how people share experiences. Social media is a pretty broad term and it is not easy to jot down the number of use cases where SLAM is applicable. Though, there are a few potential examples, like having a status above your head as you walk and live performances with virtual characters. Another instance is turning a room into a virtual TV studio for live performances, which offers a range of prospects on video-sharing platforms, like YouTube. This has the probability of turning an amateur vlogger’s productions into something looking far more professional.

With the world becoming more and more virtual, the need for SLAM technologies will certainly be on the roll and will reach nearly $3,748 million by 2030.

2D and EKF Categories Dominate Market

Simultaneous localization and mapping (SLAM) involves the mapping of a space, while keeping track of a device’s location within that space. This is what allows for mobile mapping, which is the most-important technology for the success of autonomous vehicles. Because areas can be examined using mobile, robots, drones, and automobiles, it allows for map building of enormous areas in much less time. SLAM systems make data collection easier, and they can be utilized in both outdoor and interior settings.

SLAM technology is being already applied in a variety of sectors, as it has significantly improved the ability to map and analyze settings, whether people are indoors, outdoors, in the air, or underground. The worldwide SLAM technology market accounted for $157.5 million in sales revenue in 2021, and it is set to grow with a CAGR of 42.2% from 2021 to 2030, ultimately reaching $3,747.8 million. The introduction of autonomous cars, growing number of AR-integrated apps, and rapid acceptance of unmanned aerial vehicles (UAVs) are all contributing to the market’s growth.

UAV and Military Categories To Witness Highest Growth Rates

To deploy SLAM, there are two sorts of technological components that are needed. The first is sensor signal processing, which includes front-end processing and is heavily reliant on the sensors employed. Pose-graph optimization, which includes sensor-agnostic back-end processing, is the second requirement. SLAM systems are quite accurate, now that cameras are being utilized to record data. Monocular cameras are utilized for solutions that are less expensive and physically smaller. Stereo cameras (two cameras) can determine depth in the third dimension, but only to a certain extent.

Based on application, the UAV category is expected to advance at the quickest rate in the SLAM technology market throughout the decade. This can be attributed to the growing usage of UAVs across many sectors for surveillance, reconnaissance, location mapping, and intruder detection. Since all these functionalities need SLAM, the demand for it will grow rapidly. Earlier the prized possessions of militaries, the demand for UAVs in commercial applications has begun to grow since the legalization of such products by governments for civilian use.

Asia-Pacific Market To Witness Fastest Growth in Coming Years

Furthermore, one of the major aspects raising the need for this technology is the introduction of autonomous cars. The requirement for them is rising as the connected car technology advances and the necessity of productive, safe, and economical driving solutions rises. These cars emit less CO2 and use less gasoline, thus advancing their appeal among the population. These vehicles have an inertial navigation system, SLAM technology, a variety of sensors, a laser rangefinder, and radar, which allow them to sense and navigate their surroundings and move on their own.

Moreover, visual SLAM advancement is a prominent trend in the worldwide SLAM technology market growth. With a variety of applications, visual SLAM is becoming a crucial advancement in embedded vision. It is a system that uses 3D vision to conduct mapping and location functions. This technology is being employed in a broad range of applications, from AR to field robotics, due to the availability of low-cost sensors. such as cameras and laser rangefinders, and a major rise in computer processing speed.

Adoption of the SLAM technology will grow fast in the coming years owing to the burgeoning sale of autonomous vehicles.

The research offers market size of the global simultaneous localization and mapping (SLAM) technology Market for the period 2017–2030.

Market Segmentation by Offering

  • Two-Dimensional (2D)
  • Three-Dimensional (3D)

Market Segmentation by Type

  • Extended Kalman Filter (EKF)
  • Fast
  • Graph-Based
  • Others

Market Segmentation by Application

  • Robotics
  • Unmanned Aerial Vehicle (UAV)
  • Augmented Reality (AR)/Virtual Reality (VR)
  • Autonomous Vehicle
  • Others

Market Segmentation by End User

  • Commercial
  • Military
  • Agriculture & Forestry
  • Mining
  • Automotive
  • Manufacturing & Logistics
  • Household Appliance

Market Segmentation by Region

  • North America SLAM Technology Market
    • By offering
    • By type
    • By application
    • By end user
    • By country – U.S. and Canada
  • Europe SLAM Technology Market
    • By offering
    • By type
    • By application
    • By end user
    • By country – Germany, France, U.K., Italy, Spain, and Rest of Europe
  • Asia-Pacific (APAC) SLAM Technology Market
    • By offering
    • By type
    • By application
    • By end user
    • By country – Japan, China, India, Australia, South Korea, and Rest of APAC
  • Latin America (LATAM) SLAM Technology Market
    • By offering
    • By type
    • By application
    • By end user
    • By country – Brazil, Mexico, and Rest of LATAM
  • Middle East & Africa (MEA) SLAM Technology Market
    • By offering
    • By type
    • By application
    • By end user
    • By country – Turkey, Saudi Arabia, U.A.E., South Africa, and Rest of MEA

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