PUBLISHER: The Insight Partners | PRODUCT CODE: 1765020
PUBLISHER: The Insight Partners | PRODUCT CODE: 1765020
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; it is estimated to register a CAGR of 36.2% from 2023 to 2031.
Surging Significance of Small Unmanned Systems for Cargo Deliveries Drives Europe Simultaneous Localization and Mapping Market
SLAM solutions have crucial applications in unmanned aerial vehicles (UAVs). The technology primarily supports autonomous drone operation in real time, allowing UAVs of all kinds to modify their flight paths instantly based on landmarks, objects, and obstacles in their way.
Technological advancements in air mobility boost the development of small UAVs or drones for cargo deliveries. Increasing demand for same-day delivery of shipments and mounting requirements for delivering essentials in unreachable and remote locations propel the demand for small UAVs. The UAVs can be utilized to deliver a range of cargo, which primarily includes spare parts, commercial goods, medical supplies, food items, and vaccines. In addition, UAVs can be used to deliver postal in remote construction or offshore sites. The increasing proliferation of UAVs in the logistics and freight services is also one of the major driving factors for the simultaneous localization and mapping (SLAM) market.
Cargo drones are gaining traction as a viable option to reduce carbon footprint and mitigate environmental pollution levels. Growing focus on lowering the carbon footprint in the logistics and aviation sector fuels the development of cargo drones across the world, which subsequently drives the application of SLAM technology globally. In 2021, Leonardo S.p.A. completed the first trial of its "Sumeri Moderni" drone-based delivery in Turin. In 2022, FedEx Corp. collaborated with Elroy Air to trial their autonomous eVTOL air cargo system for middle-mile logistics operations.
Thus, the growing development of small UAVs for cargo deliveries is driving the growth of the Europe simultaneous localization and mapping market.
Europe Simultaneous Localization and Mapping Market Overview
Germany, France, Italy, the UK, and Russia are among the major economies in Europe. The increasing industrialization across the region propels the application of industrial robotics across Europe. The Europe simultaneous localization and mapping market is driven by the collaborative initiatives facilitated by organizations such as the European Space Agency (ESA). Partnerships foster research and development, encourage the exchange of knowledge and expertise regarding space-related technologies and developments among member states. The region's commitment to space exploration is evident in projects such as the Copernicus program, which emphasizes Earth observation and environmental monitoring. As the demand for small satellites and satellite consortiums is rising, the Europe simultaneous localization and mapping market is positioned to thrive. This contributes to the advancements in space technology and reinforces Europe's position as a key region in the global space sector.
Europe Simultaneous Localization and Mapping Market Revenue and Forecast to 2031 (US$ Million)
Europe Simultaneous Localization and Mapping Market Segmentation
The Europe simultaneous localization and mapping market is categorized into offerings, system type, application, and country.
By offerings, the Europe simultaneous localization and mapping market is divided into 2D SLAM and 3D SLAM. The 2D SLAM segment held a larger share of the Europe simultaneous localization and mapping market share in 2023.
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 a larger share of the Europe simultaneous localization and mapping market share in 2023.
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 the largest share of the Europe simultaneous localization and mapping market share in 2023.
Based on country, the Europe simultaneous localization and mapping market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Germany segment held the largest share of Europe simultaneous localization and mapping market in 2023.
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 are some of the leading companies operating in the Europe simultaneous localization and mapping market.