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Increasing Demand for UAVs Poised to Support Growth of the Vision Positioning Systems Industry

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Increasing Demand for UAVs Poised to Support Growth of the Vision Positioning Systems Industry

Vision Positioning Systems Industry

Market Research Future (MRFR)’s latest analysis reveals that the global visual positioning system market is expected to mark a CAGR of 10.87% during the projection period 2017 to 2023. The market is presumed to reach a valuation of USD 13.32 Bn towards the end of the assessment period. The developments in the optical sensor technology have led to the penetration of major industry verticals such as automotive, BFSI, etc. This, in conjunction with growing industrial applications, is projected to catalyze the growth of the market over the next couple of years.

The growth trajectory of the vision positioning system market is dictated by its increasing use in the defense sector. The increasing investments by the ministries in unmanned aerial vehicles are likely to augment the market in the foreseeable future. Also, the introduction of industrial automation is expected to revolutionize the growth pattern of the market. The rising adoption of robotics for the completion of the industrial processes has intensified the demand for visual positioning systems. The trend is presumed to perpetuate across the review period.

Visual positioning solutions are being highly implemented for obstacle detection which is poised to accelerate revenue creation for market participants. On the contrary, the risks involved in the deployment of these systems is far too high. In case of malfunctioning, it can cause major damages to the organization which is restricting the growth of the visual positioning systems market.

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.

Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:

By end-user segment, the industrial sector would account for a largest users in Vision Positioning System market due to the increasing trend of adoption of vision sensors. The Automotive is also expected to show considerable positive indication towards Vision Positioning System market.

By Region, MRFR analysis shows that North America accounted for the largest market share of the Vision Positioning market. The Asia-Pacific (APAC) is expected to grow at a highest CAGR in Vision Positioning market due to the growing demand of electronics and automotive industries in the regions. It can be considered that growing adoption of vision based positioning would lead to the high growth in the other sectors as well.

More Information@ 

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R),a Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: [email protected]

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