Global Vision Positioning System Market – Synopsis
Vision Positioning System, a method of positioning of a system help to identify the current position of various instruments, using optical sensors, ultrasonic and image data. These systems provide volumes of information about the localization of an object using vision information, extraction of visual features for positioning and the environment.
These systems are increasingly used in industrial automation and indoor navigation to handle various operations. Augmented uptake of Vision Positioning System is predominantly driving the market growth. Over the past few years, CMIOS image sensors have evolved greatly, resultantly contributing the market growth and escalating the market on the global platform.
Accrediting the impressive growth records the global VPS Market holds, demonstrating potentiality of the further growth, Market Research Future (MRFR) recently published a brilliant study report giving out the complete market forecast till 2023. In its analysis, MRFR asserts that the global Vision Positioning System Market will escalate to USD ~13.32 Billion, by 2023, registering a striking ~10.87 % of CAGR, during the forecast period (2017 – 2023).
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Factors such as demand for improved situational awareness, need for terrain mapping, and growing trend of industrial automation foster the market growth of VFS largely. Increasing uptake of UAVs and robotics for military and defense applications coupled with the various commercial applications, such as precision agriculture, inspection, and surveys provide impetus to the market growth significantly.
However, the operation of VPSs demands an extensive training and knowledge, which impedes the market growth.
Key Players:
The prominent players in the Vision Positioning System Market are – DJI (China), Omron Corporation (Japan), Cognex Corporation (U.S.), Sick AG (Germany), ABB (Switzerland), Parrot SA (France), Pepperl+Fuchs GmbH (Europe), Senion AB (Europe), Seegrid Corporation (U.S) among others
Industry News:
In March 2019, Virtek, a provider of best-in-class laser positioning solutions, unveiled its Iris™ 3D with Vision Positioning System (VPS) for showcasing at JEC 2019.
In January 2019, Scape Technologies, a computer vision startup, finished raising of USD 8 Mn for its visual positioning system that would provide centimeter-accurate location data at city-scale.
In August 2018, Blippar, a technology company that specialized in augmented reality, unveiled its indoor positioning system for anchoring augmented reality.
In May 2018, Google, an American multinational technology company, announced the introduction of its visual guidance and Visual Positioning System for Google map navigation.
Market Segmentation:
- By component, the global vision positioning system market has been segmented into sensors, camera systems, markers, and others.
- By solution, the vision positioning system market has been segmented into tracking solutions, navigation solutions, analytics solutions, industrial solutions, and others.
- By location, the global vision positioning system market has been segmented into indoor positioning system, outdoor positioning system, and others.
- By platform, the vision positioning system market has been segmented into unmanned aerial vehicle – drones, automated guided vehicles, robotics, space vehicles, and others.
- By type, the global vision positioning system market has been segmented into 1D, 2D, and 3D.
- By end-user, the vision positioning system market has been segmented into BFSI, automotive, healthcare, government & defense, industrial, commercial, and others.
Regional Analysis:
By region, the global vision positioning system market has been segmented into Asia Pacific, North America, Europe and the Rest of the World (RoW). North America is currently placed at the pole position of the marketplace and is projected to retain its position over the assessment period. The rising demand for small drones, UAVs, robotics, etc. in the region is anticipated to expedite the growth of the market over the next few years. Europe is also an important growth pocket and is forecasted to exhibit healthy growth in the years to come. Visual positioning system market in Asia Pacific is likely to scale a decent growth rate across the forecast period. Its growth is primarily attributable to the thriving commercial market for visual positioning systems in China and India.
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Intended Audience
- System Security
- Software investors
- Defense and Government
- Police Departments
- BFSI
- Private Companies
- Component Suppliers
- Investors and Venture Capitalist
- Police Departments
- Vision Positioning System Service Provider
- Vision Positioning System Agencies
- Technology Integrators
- Research/Consultancy firms
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