Global Vision Positioning System Market By Component (Sensors, Camera Systems, Markers, Others), Location (Indoor Positioning System, Outdoor Positioning System), Type (1D, 2D, 3D), Solution (Navigation, Analytics, Tracking, Industrial Solutions, Others), Platform (UAVs/Drones, AGV, Robotics, Space Vehicle, AUV, Others), Application (Commercial Application, Defense Application), End-User (Retail, Healthcare, Industrial, Transportation & Logistics, Hospitality, Aerospace & Defense, Automotive, Electrical & Electronics, BFSI), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Vision Positioning System Market
Global Vision Positioning System Market is expected to rise from its initial estimated value of USD 6.08 billion in 2018 to an estimated value of USD 14.16 billion by 2026, registering a CAGR of 11.15% in the forecast period of 2019-2026. This rise in market value can be attributed to the rapid growth and development caused by the significant levels of investments undergoing in the market.
Market Definition: Global Vision Positioning System Market
Vision positioning system is a location identifying system where different sensors, cameras and technologies combine to identify the objects in the environment even in secluded locations, where GPS might not be as accurate. These sensors, cameras combine to formulate the information regarding the surroundings which is interpreted by the system and an accurate location is formulated. This system helps in easier navigation, and provides information regarding the afar objects.
- Rapid adoption of automated systems and industrial automation amid growth of Industry 4.0
- Increasing levels of usage of robotic systems in commercial and aerospace & defense industries expected to drives the growth of the market.
- Strict regulations and compliances regarding the usage of drones from the various authorities of different regions; this factor is expected to restrain the market growth
- Concerns regarding malfunctioning of systems such as cameras, sensors is expected to restrain the market growth
Segmentation: Global Vision Positioning System Market
- By Component
- Camera Systems
- By Location
- Indoor Positioning System
- Outdoor Positioning System
- By Type
- By Solution
- Industrial Solutions
- By Platform
- Unmanned Aerial Vehicles (UAVs)/Drones
- Automated Guided Vehicle (AGV)
- Space Vehicle
- Autonomous Underwater Vehicle (AUV)
- By Application
- Commercial Application
- Defense Application
- By End-User
- Transportation & Logistics
- Aerospace & Defense
- Electrical & Electronics
- Banking, Financial Services & Insurance (BFSI)
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In January 2019, Scape Technologies Ltd announced they had raised USD 8 million seed investment for the development of their visual positioning system which is able to provide centimetre-accurate locations for cities. Their VPS (visual positioning system) will be able to differentiate between the objects of the environment
- In October 2018, Quest Solution Inc. announced that they had acquired HTS Imaging Processing, Inc. This acquisition will help Quest Solution Inc. in providing automated logistics monitoring systems helping in creating of AI-powered patterns recognition in the environment
Global vision positioning system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of vision positioning system market for global, Europe, North America, Asia-Pacific and South America.
Major Market Competitors/Players
Few of the major competitors currently working in vision positioning system market are ABB; ADTECH (SHENZHEN) TECHNOLOGY CO., LTD.; Quest Solution Inc.; Pepperl+Fuchs; Cognex Corporation; Parrot Drones SAS; FANUC CORPORATION; Senion; SICK AG; Seegrid Corporation; DJI; infsoft GmbH; LOCATA CORPORATION PTY. LIMITED.; Navigine; HTS; Scape Technologies Ltd; OMRON Corporation and Maxar Technologies Ltd.
Research Methodology: Global Vision Positioning System Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved