Vision Positioning System Market Size
A new market study, titled “Vision Positioning System Market Size Trends ” has been featured on Market Research Future.
Global Vision Positioning System market intends to high its valuation over the next six years with its growing applications across the world. Market Research Future reveals that the market has high potential to gain valuation worth USD ~$13.32 Billion by 2023 while staggering at ~10.87% of CAGR in the course of years from 2017 to 2023, which has also been considered as forecast period of the market.
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Market Top Drivers & Key Challenges
The market of vision positioning is characterized by the positioning of a system that uses optical sensors, ultrasonic, and image data to identify its current position. The optical sensors used are mainly for confirming distance information for collision avoidance. Therefore, the market is observing a substantial rise from previous years by witnessing mounting usage of vision positioning systems, mostly in industrial automation and indoor navigation, to handle various kinds of operations. The new technology of Vision Positioning System has leveraged the market of it to an exceptional level, resulting in substantial growth of the market.
Some of the factors becoming influential for the market’s rise is the budding applications of Automated Guided Vehicles (AGVs) that are used for commercial and defense purposes, growing used of Unmanned Aerial Vehicles (UAVs), as well as the upsurge in demand for Artificial Intelligence (AI), -enabled optical sensors. These have significantly contributed the most to the market’s growth and will continue in the forecast period, as per the research conducted.
Continued technological innovations, on the other side, are keeping pace with changing industrial needs. In the case of point, Google, Inc. broadcasted about developing a ‘visual positioning service’ using its Tango 3D sensing computer technology. This was to offer a comprehensive indoor location positioning system. With the help of augmented reality technology coupled with real-world information, the action to locate the distinct visual features of an area might become accessible, which can eventually be also used to create a map of the location.
Apart from this, the study also discovered that commercial drones play a pivotal part in capitalizing on the market. Its global demand has essence the market of rising at a substantial rate during the assessment period set. The principal use of drones comes for security and law enforcement as well as agricultural purposes, and due to its efficiency, the market got a considerable drive and growth happened, which expects to expand during the market’s forecast period further.
Furthermore, renowned companies such as the U.S., the U.K, France, Germany, China, Japan, and South Korea are capitalizing heavily on the development of sensors intending to reduce human workload. This is yet another factor leading the global vision positioning market to expand in the future. On the contrary, factors such as intensive training and education and essential requirement, enabling entry of machine vision in newer markets is posing as a kind of restrain towards the growth of vision positioning system market growth.
Market Segmentation
The segmental analysis of the global vision positioning system market has been studied among various segments such as solution, component, platform, type, location, and end-user.
Depending on the component segment, the market includes sensors, camera systems, markers, and more.
Depending on the solution segment, the market includes navigation solutions, tracking solutions, analytics solutions, and industrial solutions.
Depending on the location segment, the market includes an indoor positioning system and an outdoor positioning system.
Depending on the platform segment, the market includes Unmanned Aerial Vehicle – drones, automated guided vehicles, robotics, and space vehicles.
Depending on the type segment, the market includes 1D, 2D, and 3D.
Depending on the end-user segment, the market includes BFSI, healthcare, automotive, industrial, commercial, and government & defense.
Regional Framework
The regional analysis of the Vision Positioning System market is being studied for the main regions of Europe, North Americas, Asia Pacific, and Rest of the World.
The growing demand for innovative technology is driving the Vision Positioning System in the North American region tremendously. Due to this reason, this region has become the leading country in the world. The study also reveals that the highest usage in small drones, automated guided vehicles, and robotics for commercial and civil applications are observed in this region, resulting in high growth notions for the market in the future as well.
The study further reveals that Europe is the next highest region is showing positive growth in the Vision Positioning System market in the present days and will reach to the highest point in forecast periods.
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The Vision Positioning System market is driven by the innovation in vision positioning technology and also the advancements in commercial services to the make the technology more advanced and cost effective.
A recent trend to track the location on a live map is smart technologies boosting the Vision Positioning System market.The study signifies that the increasing usage of smart robotics and unmanned aerial vehicles has led to the growth of the market in commercial and defense applications globally and will act as a key driver for Vision Positioning System market.
The adoption industrial solutions is the largest solution segment for vision positioning systems due to the rapid growth in industrial automationThe Vision Positioning System market is growing rapidly over 10.87% of CAGR and is expected to reach at USD ~$13.32 billion by the end of forecast period.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.
Vision Positioning System Market Size 2021-2027New Study Reports " Vision Positioning System Market Size 2021, Global Key Players Analysis, Share, Trends, Future Opportunities Forecasts 2027" has been Added on MarketResearchFuture.Report OverviewThis published report for the Vision Positioning System Market Size analyzes and forecasts the marketing statistics of the product/service market on a global as well as the regional level.
In addition to this, the report also studies the opportunities that are available in the report at the global level.
The market stands to gain USD 13.32 Billion while progressing at a 10.87% CAGR by 2023.The advantage of optical sensors is estimated to guide the Vision Positioning System Market Size in the approaching period.
The restoration and everyday operations are estimated to take some time, which will lead to intensive development of backlog in delivery.
The need to build sustainability into the core assets of the companies will help companies’ battle situations like the current pandemic more effectively.
The constraints of growth are expected to be significant and considerable support will be needed to transform the market effectively.The outstanding companies in the Vision Positioning System Market Size are Senion AB (Europe), Cognex Corporation (U.S.), Sick AG (Germany), ABB (Switzerland), Parrot SA (France), Omron Corporation (Japan), Pepperl+Fuchs GmbH (Europe), Seegrid Corporation (U.S) among others and more.This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Vision Positioning System.Complete Report Details@ https://www.marketresearchfuture.com/reports/vision-positioning-system-market-3204Segmental AnalysisThe segmental investigation of the Vision Positioning System Market Size has been conducted on the basis of platform, solution, location, component, type, end-user, and region.
Market Scenario:A Vision Positioning System is the method of positioning of a system that uses optical sensors, ultrasonic and image data to help the various instruments to identify its current position.
The growth of the vision positioning system market is driven by the increasing use of vision positioning systems in industrial automation and indoor navigation to handle various kinds of operations.
Being a new technology the Vision Positioning System market is also driven by the continuous evolution of CMIOS image sensor.The study indicates that the Vision Positioning System Market is method that provide the volume of information about the localization using vision information, extraction of visual features for positioning straightforward and representing the environment.
However, it processes information from every sensor and completes complex calculations in real time.
The Vision Positioning system industry is expected to grow during the forecast period due to rise in demand for automation in industrial applications.
However, intensive training and education, an essential requirement to enable entry of machine vision in newer markets, restrain the vision positioning system market growth.
