At 34.0% CAGR, North America Simultaneous Localization and Mapping Market is Projected to be Worth US$ 2,099.57 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America simultaneous localization and mapping market was valued at US$ 202.33 million in 2023 and is expected to reach US$ 2,099.57 million by 2031, registering a CAGR of 34.0% 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 North America simultaneous localization and mapping market growth.

The advancement of autonomous robotic platforms for space applications such as robotic manipulators, satellites, and rovers has fueled the requirement for consistent navigation and control procedures. SLAM algorithms can be utilized to identify the position and orientation of robotic platforms while generating a map of an unknown hostile environment. The global space sector is driven by rising demand for services such as earth observation, satellite communications, and positioning timing and navigation. The space sector is witnessing the growing presence of private players and experiencing heightened demand arising from the need for space information. Constellations of small satellites in Low Earth Orbit are a major part of this movement, known as NewSpace. In November 2023, Exotrail introduced SpaceVan, its first payload-hosting vehicle for low Earth orbit. The geostationary version of the vehicle is anticipated to be launched in 2026. In January 2024, the company announced its plans to launch a new orbital vehicle aimed at small satellites that are required to transit from geostationary transfer orbit to their destination. In January 2024, Japan's lunar lander successfully landed on the moon's surface. With this landing, Japan happens to be the fifth country to land a craft on the moon, after the US, China, Russia, and India. In February 2024, a lunar lander took off for the moon to make the first US landing. SpaceX also launched the private Odysseus lander Falcon 9 rocket as the US lander took off for the moon. In March 2024, Blue Origin announced the launch Blue Moon lunar lander in 2025. In March 2024, SpaceX launched a Starship rocket into orbit on a test flight. Thus, the growing number of initiatives toward space activities are likely to continue to propel the growth of the North America simultaneous localization and mapping market during the forecast period.

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

By offerings, the North America simultaneous localization and mapping market is divided into 2D SLAM and 3D SLAM. The 2D SLAM segment held 59.6% share of North America simultaneous localization and mapping market share in 2023, amassing US$ 120.59 million. It is projected to garner US$ 1,211.65 million by 2031 to register 33.4% CAGR during 2023-2031.

In terms of system type, the North America simultaneous localization and mapping market is bifurcated into camera based and LiDAR based. The camera based segment held 54.1% share of North America simultaneous localization and mapping market share in 2023, amassing US$ 109.53 million. It is projected to garner US$ 1,003.50 million by 2031 to register 31.9% CAGR during 2023-2031.

Based on application, the North America simultaneous localization and mapping market is segmented into robotics, UAV, AR or VR, automotive, RTLS, and others. The robotics segment held 35.2% share of North America simultaneous localization and mapping market share in 2023, amassing US$ 71.27 million. It is projected to garner US$ 666.48 million by 2031 to register 32.2% CAGR during 2023-2031.

Based on country, the North America simultaneous localization and mapping market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.7% share of North America simultaneous localization and mapping market in 2023. It was assessed at US$ 169.30 million in 2023 and is likely to hit US$ 1,792.95 million by 2031, registering a CAGR of 34.3% during 2023-2031.

Key players operating in the North America 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. 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.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com