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).
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.
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Industry/ Innovation/ Related News
April 09, 2018 – Dà-Jiāng Innovations (DJI – China) a leading global technology company launched new filmmaking tools including DJI Master Wheels and DJI Force Pro that offer Professional Gimbal Control Solutions for filmmakers. Introduced at NAB 2018, these tools are built to deliver precise gimbal movements offering to the filmmakers with reliable tools that help capture complex shots with ease while adding a cinematic quality to any scene. Master Wheels consists of the latest sensor positioning technology, dual-band low-latency, and wireless transmission technology that ensures a stable and reliable connection.
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
Global Vision Positioning System Market – Segmentations
For the convenience of the report and enhanced understanding; MRFR has segmented the analysis into 7 key dynamics
- By Components: Comprises Sensors, Camera, and Embedded System among others.
- By Solutions: Navigation Solutions, Tracking Solutions, Analytics Solutions, and Industrial Solutions among others.
- By Locations: Indoor Positioning System and Outdoor Positioning System among others.
- By Platforms: Unmanned Aerial Vehicle (UAVs – Drones), Automated Guided Vehicles (AGV), Robotics, and Space Vehicles among others.
- By End Users: Healthcare, Automotive, Industrial, BFSI, Commercial, Government & Defense, among others.
- By Technologies: Includes 1, 2 & 3D among others.
- By Regions: North America, Europe, APAC and Rest of the World.
Vision Positioning System Market – Geographical Analysis
Globally, North America leads the market for Vision Positioning System with the largest market share. Factors such as the increasing investments transpired into the development of technologies, the presence of the fervent market players that can cutting-edge technologies and increasing uptake of these systems in the defense sector drives the regional market growth. Continuing with the same growth trends, the region is expected to retain its dominance in the global market. The major markets for UAVs (drones), automated guided vehicles and robotics mainly in the US contributes the regional market growth.
While the Europe market accounts for the second largest market for the Vision Positioning System owing to the demand from the various sectors. The resurging economy in the region too contributes to the market growth largely. Moreover, augmented uptake of small drones, automated guided vehicles and robotics for commercial and civil applications fuels the regional market.
On the other hand, Asia Pacific region is expected to witness a healthy growth, emerging as the fastest growing market for the Vision Positioning System. Factors such as increasing urbanization & manufacturing sector coupled with the improving economy in the region fosters the market growth.
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- System Security
- Software investors
- Defense and Government
- Police Departments
- 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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