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Visual Positioning System Market Analysis

ID: MRFR//10356-HCR | 160 Pages | Author: Aarti Dhapte| November 2024

The Visual Positioning System (VPS) market is influenced by a multitude of factors, each playing a significant role in shaping its trajectory. Firstly, technological advancements serve as a cornerstone, driving innovation and expanding the capabilities of VPS solutions. As computing power increases and algorithms become more sophisticated, VPS systems can offer higher accuracy, faster processing speeds, and enhanced functionalities, appealing to a wider range of industries and applications.


Market demand also heavily influences the growth of the VPS market. Industries such as retail, logistics, healthcare, and automotive are increasingly adopting VPS solutions to improve navigation, asset tracking, and augmented reality experiences. The rising demand for precise indoor positioning, especially in complex environments like shopping malls, airports, and warehouses, is propelling the market forward.


Additionally, regulatory factors play a crucial role in shaping the VPS market landscape. Government policies and regulations regarding privacy, data security, and spectrum allocation impact the development and deployment of VPS technologies. Compliance with standards and regulations is essential for VPS providers to gain trust and confidence from both businesses and consumers.


Competitive dynamics also drive the evolution of the VPS market. As the industry grows, competition intensifies among VPS solution providers, leading to innovations in product features, pricing strategies, and market positioning. Established players continually strive to maintain their market dominance, while new entrants disrupt the market with novel approaches and solutions.


Moreover, macroeconomic factors such as economic growth, consumer spending, and infrastructure development influence the adoption of VPS technologies. Strong economic conditions often translate to increased investments in innovation and technology, fostering the expansion of the VPS market. Conversely, economic downturns may slow down investments and deployments in VPS solutions, affecting market growth.


Global trends, such as urbanization and the proliferation of smart devices, also shape the VPS market landscape. As more people move to cities and urban areas become increasingly dense, the demand for indoor navigation and location-based services grows. The ubiquitous use of smartphones equipped with cameras and sensors further accelerates the adoption of VPS solutions, as these devices serve as the primary interface for accessing VPS applications.


Furthermore, partnerships and collaborations play a vital role in driving market expansion. VPS providers often collaborate with hardware manufacturers, software developers, and industry-specific solution providers to create integrated solutions that address the unique needs of different sectors. Strategic alliances help VPS companies leverage complementary technologies and expertise, enabling them to offer comprehensive solutions to customers.


 


Lastly, societal factors, including changing consumer behaviors and preferences, influence the adoption of VPS technologies. As consumers increasingly seek convenience, personalization, and immersive experiences, businesses are compelled to integrate VPS solutions into their offerings to stay competitive. The growing acceptance of augmented reality (AR) and location-based services among consumers further accelerates the adoption of VPS technologies across various industries.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Component, Location , Type , Solution , Platform, Application, and Region

Visual Positioning System Market Overview


Visual Positioning System Market Size was valued at USD 9,320.3 million in 2022. The Visual Positioning System market industry is projected to grow from USD 10,123.2 Million in 2023 to USD 27,419.6 million by 2032, exhibiting a compound annual growth rate (CAGR) of 11.7% during the forecast period (2023 - 2032).


The Visual Positioning System (VPS) is a system that determines the location and orientation of a device or vehicle in the actual environment using computer vision and machine learning techniques. It works by comparing the images produced by the device's camera to a database of pre-mapped photos and then use machine learning techniques to estimate the device's location and orientation based on the similarities and differences between the captured images and the pre-mapped images. The growing market for artificial intelligence (AI)-enabled optical sensors, as well as increased use of commercial drones for security, law enforcement, and agricultural uses worldwide, are the key market drivers boosting the growth of the Visual Positioning System market.


Figure1: Visual Positioning System Market, 2019 - 2032 (USD Million)


Visual Positioning System Market Overview


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Visual Positioning System Market Trends




  • Increasing trend of Industrial Automation




Indoor Visual Positioning System (VPS) is a technology that determines the location and orientation of a device or vehicle within an indoor environment using computer vision and machine learning techniques. The growing need for artificial intelligence (AI)-enabled optical sensors, as well as the increased use of commercial drones for security, law enforcement, and agricultural uses, is propelling the visual positioning system market forward. The increasing rate of industrial automation and the increasing use of smart robots in commercial and defense applications both have an impact on the visual positioning system market.  Furthermore, the increased use of technology in applications related to safety and security, research and development activities, and an increase in investment by the commercial and public sectors all have a beneficial impact on the visual positioning system market. Furthermore, in the forecast period of 2023 to 2032, the growth in demand for sensors equipped with artificial intelligence and technological developments provides profitable prospects to visual positioning system market competitors.


Indoor VPS can be used to develop immersive and interactive training experiences for a wide range of industries, including healthcare, manufacturing, and the military. It can improve training efficacy and efficiency by offering a realistic and dynamic learning environment. Indoor VPS can boost efficiency and productivity by allowing accurate positioning and orientation of industrial equipment like as robotic arms and conveyor belts. By delivering real-time position and orientation information, it can also improve the safety and dependability of industrial processes. Indoor VPS allows robots to navigate and interact with their surroundings in a more natural and intuitive manner, boosting robotic task precision and accuracy.


Visual Positioning System Market Component Segment Insights:




  • Visual Positioning System Component Insights




Based on Components, the Visual Positioning System Market segmentation includes Sensors, Camera, Systems, Markers, and Others. The component Camera Systems segment held the majority share in 2022, contributing around ~51.8% to the market revenue. As the name suggests, Cameras emerged as the dominant segment in the market, with the highest revenue share in 2022. Cameras are essential components of positioning systems because they collect images of an area or track the position of automated equipment to supply input data into the system. Sick AG, Omron Corporation, and Menzel Vision and Robotics are among the major manufacturers of location cameras. These firms provide 2D vision and smart cameras with optic sensors. Photometric cameras using Charge-Coupled Device (CCD) arrays are the most often utilized cameras.


Figure2: Visual Positioning System Market, by Type, 2022 VS 2032 (USD Million)


Visual Positioning System Market, by Type, 2022 VS 2032


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Visual Positioning System Market Location Segment Insights:




  • Visual Positioning System Location Insights




Based on Location, the Visual Positioning System Market segmentation includes Indoor Positioning Systems and Outdoor Positioning Systems. The Outdoor Positioning System segment held the majority share in 2022. This is due to increased demand for unmanned aerial vehicles (UAVs) and outdoor AGVs, particularly in the defense, commercial, retail, and industrial sectors.


Indoor positioning systems are predicted to increase rapidly during the projection period. This increase can be ascribed to the increased demand for precise positioning in interior navigation, where satellite-based systems such as the Global Positioning System (GPS) are ineffective. This is especially true in industries such as manufacturing, storage and logistics, retail, and hospitality.


Visual Positioning System Market Type Segment Insights:




  • Visual Positioning System Type Insights




Based on the Type, the Visual Positioning System Market segmentation includes 1D, 2D, and 3D. By Type, 2D segment hold the majority market share in 2022. This is due to an increase in the demand for 2D cameras. Visual positioning estimates the 3D position and 3D orientation of moving products using a small 2D camera. It is utilised for large-scale indoor positioning applications that require great reliability and precision of position data to function successfully. 2D vision systems capture an object's image using digital cameras. A two-dimensional map (X, Y) of reflected intensity is recorded and processed with 2D vision.


Visual Positioning System Market Solution Segment Insights:




  • Visual Positioning System Solution Insights




Based on the Solution, the Visual Positioning System Market segmentation includes Navigation, Analytics, Tracking, Industrial Solutions, and Others. By Solution, the Industrial Solutions segment holds the majority of the market share in 2022. This is because industrial automation is rapidly expanding. While big data analytics and navigation technologies are frequently employed in the healthcare and retail sectors to manage these sites.


Visual Positioning System Market Platform Segment Insights:




  • Visual Positioning System Platform Insights




Based on the Platform, the Visual Positioning System Market segmentation includes UAVs/Drones, AGV, Robotics, AUV, and Others. By Platform, the Robotics segment holds the majority of the market share in 2022. Industrial robots in business environments have grown in popularity because they can do any mechanized work more efficiently than humans. They are far more capable than residential robots, justifying increased spending on such equipment. Because of the widespread use of these systems, most commercial spaces today have predictable and dependable communication infrastructure that allows for easy navigation using positioning technology. This can be accomplished without the use of GPS or other satellite communications.


The UAV platform's rapid expansion is characterized by its broad range of applications in a variety of industrial verticals, including homeland security, military, retail, and agriculture. Military applications have a substantially higher demand for UAVs than commercial applications. Increased usage of unmanned aerial vehicles (UAVs) by government organizations for scientific research and development, infrastructure, law enforcement, environmental studies, and disaster management is expected to drive demand over the forecast period.


Visual Positioning System Market Application Segment Insights:


Visual Positioning System Application Insights


Based on the Application, the Visual Positioning System Market segmentation includes Commercial Applications and Defense Applications. By Application, the Commercial Application segment holds the majority of the market share in 2022. Retail, healthcare, industrial, transportation and logistics, and hospitality are all business sectors where these systems are in high demand. Defense accounted for more than 40% of total sales and is expected to be the fastest-increasing market throughout the forecast period. This is mostly due to the increased use of UAVs and AGVs in the defense sector. Drones are employed for mapping, patrolling, and aerial strikes in war zones.


Visual Positioning System Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. In terms of revenue, North America held the largest share of 35.6% in the Visual Positioning Systems market in 2022 and is expected to maintain its dominance during the forecast period. This is because the region has big players as well as a vast consumer base. Furthermore, there has been a considerable increase in the usage of UAVs, AGVs, industrial robots, and space vehicles.


Because of its strong adoption of UAVs, AGVs, industrial robots, and space vehicles, the United States accounts for a significant revenue share in the region. Furthermore, several of the key companies involved in offering these solutions are headquartered in North America.


Companies such as Google, Apple, and Qualcomm are substantially investing in the development of VPS technology, and they are projected to dominate the market in the next years. The United States government has been a major contributor of research and development. The US Department of Defense awarded the University of California, Berkeley a $10 million grant in 2016 to build a VPS system for military uses.


Also driving the market for visual positioning systems in North America are factors such as the leader in technology development and strong expenditure in R&D for the creation of efficient manufacturing processes. Furthermore, due to the early adoption of industrial automation and the presence of a sizable number of market vendors with local roots, the regional market is expected to grow significantly throughout the projection period.


Figure3: VISUAL POSITIONING SYSTEM MARKET SIZE BY REGION 2022 VS 2032


VISUAL POSITIONING SYSTEM MARKET SIZE BY REGION 2022 VS 2032


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Asia Pacific and the Middle East and Africa (MEA) are likely to emerge as market-growth-friendly regions. DJI, a Chinese drone manufacturer, is a global leader in the development of high-precision positioning systems. Its "Guidance" product is a visual sensing system that includes ultrasonic sensors, integrated visual cameras, and a sophisticated computer vision algorithm. A central CPU and five sensor modules are included in the package. It can detect any barrier in real-time and offer position-based information over any terrain because of its high-precision stereo algorithms. Developers can construct customized applications for its ultrasonic and visual sensors to meet unique needs. With international firms significantly investing in the Chinese drone market, manufacturers such as Yuneec International and Hover Camera are expected to see increased demand for positioning devices in future.


Europe is also predicted to grow significantly between 2023 and 2032 due to the presence of key companies, technological advancement, and more foreign investment in the region.


Visual Positioning System Key Market Players & Competitive Insights


With a strong presence across different verticals and geographies, the Visual Positioning System market is highly competitive and dominated by established, pure-play vendors. Over 30 vendors cater to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting new technologies to make business more effective. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Visual Positioning System market is highly competitive, with many vendors offering similar products and services.


The major players in the market include Google, Apple, Huawei, Samsung, Sony, Qualcomm, MediaTek, Infineon, STMicroelectronics, Broadcom, Texas Instruments, NXP Semiconductors, Infineon Technologies, Epson, and Zebra Technologies. Qualcomm Vision Enhanced Precise Positioning (VEPP) software combines the output of multiple currently implemented automotive sensors Global Navigation Satellite Services (GNSS), camera, Inertial Measurement Unit (IMU), and wheel sensors — to provide highly accurate and cost-effective global vehicle positioning to less than one meter.


The Visual Positioning System Market is a consolidated market due to increasing competition, acquisitions, mergers, and other strategic market developments and decisions to improve operational effectiveness.


Key Companies in the Visual Positioning System market include



  • Google

  • Apple

  • Huawei

  • Samsung

  • Sony

  • Qualcomm

  • MediaTek

  • Infineon

  • STMicroelectronics

  • Broadcom

  • Texas Instruments

  • NXP Semiconductors

  • Infineon Technologies

  • Epson

  • Zebra Technologies

  • Niantic


Visual Positioning System Industry Developments



  • In September 2022, Google Maps now has augmented reality search results. After introducing augmented reality walking navigation in 2019 and interior AR navigation in 2021, it is currently displaying augmented reality search results. Augmented reality search results will place markers in the video feed that are positioned in 3D space. It's a dream interface for augmented reality eyewear, but for the time being, it'll only operate on a phone.

  • In May 2022, Niantic introduced its Lightship VPS system, which allows developers to pinpoint the location of AR devices to centimeter accuracy (in enabled locations). Niantic claims that its platform would let developers to create location-based, persistent, and multi-user AR experiences using the underlying VPS map, which will hopefully one day span the globe.


Visual Positioning System Market SegmentationVisual Positioning System Component Outlook



  • Sensors

  • Camera Systems

  • Markers

  • Others


Visual Positioning System Location Outlook



  • Indoor Positioning System

  • Outdoor Positioning System


Visual Positioning System Type Outlook



  • 1D

  • 2D

  • 3D


Visual Positioning System Solution Outlook



  • Navigation

  • Analytics

  • Tracking

  • Industrial Solutions

  • Others


Visual Positioning System Platform Outlook



  • UAVs/Drones

  • AGV

  • Robotics

  • AUV

  • Others


Visual Positioning System Application Outlook



  • Commercial Application

  • Retail

  • Healthcare

  • Industrial

  • Transportation & Logistics

  • Hospitality

  • Others

  • Defense Application


Visual Positioning System Regional Outlook




  • North America

    • US

    • Canada




  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe




  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific




  • Rest of the World

    • Middle East

    • Africa

    • Latin America



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