At 36.2% CAGR, Europe Simultaneous Localization and Mapping Market is Projected to be Worth US$ 1,341.88 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe simultaneous localization and mapping market was valued at US$ 113.21 million in 2023 and is expected to reach US$ 1,341.88 million by 2031, registering a CAGR of 36.2% from 2023 to 2031. Growing significance of advanced algorithms of SLAM technology in healthcare and increasing advent of industrial mobile robotics are among the critical factors attributed to driving the Europe simultaneous localization and mapping market growth.

Endoscopy is one of the crucial subjects in gastroenterology. The expansion of image technology has provided technological support in the medical device sector. The SLAM technology is used to map the location environment and, at the same time, leverage the signal provided by the sensors to trace the sensor system in the environment. In order to streamline the navigation system for normal invasive abdominal surgery, a laparoscopic navigation system based on SLAM was fabricated. Combining medical information with real-time laparoscopic video can enhance the doctor's field of view, assist in detecting critical areas, and facilitate safer and more efficient surgical processes. Furthermore, to enable robots to perform in unknown environments, the SLAM technology is utilized to fabricate a semantic map of healthcare facilities to achieve spatial layouts and identify the surrounding environment. Visual SLAM uses cameras and sensors, including stereo, monocular, and RGB-D cameras, in medical and healthcare applications such as identifying medicines, drugs, and equipment.

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

By offerings, the Europe simultaneous localization and mapping market is divided into 2D SLAM and 3D SLAM. The 2D SLAM segment held a 61.2% share of Europe simultaneous localization and mapping market share in 2023, amassing US$ 69.26 million. It is projected to garner US$ 782.86 million by 2031 to register 35.4% CAGR during 2023-2031.

In terms of system type, the Europe simultaneous localization and mapping market is bifurcated into camera based and LiDAR based. The camera based segment held 55.6% share of Europe simultaneous localization and mapping market share in 2023, amassing US$ 62.98 million. It is projected to garner US$ 656.94 million by 2031 to register 34.1% CAGR during 2023-2031.

Based on application, the Europe simultaneous localization and mapping market is segmented into robotics, UAV, AR or VR, automotive, RTLS, and others. The robotics segment held 31.6% share of Europe simultaneous localization and mapping market share in 2023, amassing US$ 35.72 million. It is projected to garner US$ 382.23 million by 2031 to register 34.5% CAGR during 2023-2031.

Based on country, the Europe simultaneous localization and mapping market is categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 27.4% share of Europe simultaneous localization and mapping market in 2023. It was assessed at US$ 31.00 million in 2023 and is likely to hit US$ 415.35 million by 2031, registering a CAGR of 38.3% during 2023-2031.

Key players operating in the Europe 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 September 2024: Rethink Robotics announces the Rethink Ryder line of AMRs at IMTS 2024.

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