At 39.1% CAGR, Asia Pacific Simultaneous Localization and Mapping Market is Projected to be Worth US$ 1,808.15 million by 2031, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific simultaneous localization and mapping market was valued at US$ 129.24 million in 2023 and is expected to reach US$ 1,808.15 million by 2031, registering a CAGR of 39.1% from 2023 to 2031. Utilization of SLAM technology in space applications and increasing advent of industrial mobile robotics are among the critical factors attributed to driving the Asia Pacific simultaneous localization and mapping market growth.

The rapid advancement of factory automation is trusting industries to adopt smarter and more efficient technologies. Among these advances, industrial mobile robots have high applications across industrial setups, such as warehouse robots, assembly line automation, and inspection in power lines in smart grids. Localization and mapping are essential technologies of mobile robots, and SLAM is considered as a crucial aspect in the overall process. SLAM is usually resource-intensive and requires high-fidelity sensors to effectively navigate an environment. These autonomous machines navigate manufacturing environments, executing critical tasks with precision. Industrial mobile robots are employed in manufacturing and industrial environments for handling delicate parts, transporting materials, inspecting products for quality control, and assisting in logistics. These robots operate autonomously and adapt to changing environments, making them highly valuable in industries such as electronics, automotive, and pharmaceuticals. In mobile robotics, SLAM has high significance because of its applications in the exploration of hard-to-reach places and surveillance in remote industrial setups. In 2022, ABB opened a robotics factory in Kangquiao, Shanghai, China. Thus, the growing advent of automation and the application of robotic technology in the industrial setup is driving the growth of the simultaneous localization and mapping market.

On the flip side, technical limitations of simultaneous localization and mapping solutions hamper the growth of Asia Pacific simultaneous localization and mapping market.

By offerings, the Asia Pacific simultaneous localization and mapping market is divided into 2D SLAM and 3D SLAM. The 2D SLAM segment held a 63.1% share of Asia Pacific simultaneous localization and mapping market share in 2023, amassing US$ 81.51 million. It is projected to garner US$ 1,094.24 million by 2031 to register 38.4% CAGR during 2023-2031.

In terms of system type, the Asia Pacific simultaneous localization and mapping market is bifurcated into camera based and LiDAR based. The camera based segment held 58.4% share of Asia Pacific simultaneous localization and mapping market share in 2023, amassing US$ 75.45 million. It is projected to garner US$ 928.64 million by 2031 to register 36.9% CAGR during 2023-2031.

Based on application, the Asia Pacific simultaneous localization and mapping market is segmented into robotics, UAV, AR or VR, automotive, RTLS, and others. The robotics segment held 33.2% share of Asia Pacific simultaneous localization and mapping market share in 2023, amassing US$ 42.93 million. It is projected to garner US$ 542.87 million by 2031 to register 37.3% CAGR during 2023-2031.

Based on country, the Asia Pacific simultaneous localization and mapping market is categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 36.4% share of Asia Pacific simultaneous localization and mapping market in 2023. It was assessed at US$ 47.07 million in 2023 and is likely to hit US$ 705.00 million by 2031, registering a CAGR of 40.3% during 2023-2031.

Key players operating in the Asia Pacific simultaneous localization and mapping market are ANAVS GmbH; Applanix; Exyn Technologies Inc; FARO Technologies Inc; Kudan Inc; Kuka AG; Leica Geosystems AG; Leishen Intelligent System Co., Ltd; MAXST Co Ltd; NavVis GmbH; Nexxis; Rethink Robotics GmbH; Sevensense Robotics AG; Slamcore Ltd; and Visimind AB, among others.

• In Sep-2024: Rethink Robotics announces the Rethink Ryder line of AMRs at IMTS 2024. The Rethink Ryder line includes two models, the light- to - medium weight MRE 550 model handles payloads of up to 550 kg (1212 pounds), and the heavy-duty MRE 1400 model handles payloads of up to 1400 kg.

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