The visual positioning system (VPS) market is experiencing dynamic shifts driven by technological advancements and increasing demand across various industries. VPS, a cutting-edge technology, utilizes computer vision, machine learning, and sensor fusion to provide precise location information by analyzing visual data from cameras. One of the key drivers of market growth is the rapid proliferation of smartphones equipped with advanced camera capabilities, enabling the integration of VPS functionalities into mobile applications. This integration has opened up new avenues for location-based services, such as augmented reality navigation, indoor mapping, and location-based advertising, thereby expanding the market potential.
Furthermore, the adoption of VPS technology is gaining momentum in sectors like retail, logistics, and automotive. In retail, VPS enhances the shopping experience by providing personalized recommendations, indoor navigation assistance, and seamless checkout processes. Retailers are leveraging VPS to track customer movements within stores, optimize product placements, and analyze consumer behavior patterns, leading to improved operational efficiency and increased sales. Similarly, logistics companies are deploying VPS solutions to optimize warehouse management, track inventory in real-time, and streamline last-mile delivery operations, thereby reducing costs and enhancing customer satisfaction.
In the automotive industry, VPS is revolutionizing autonomous driving systems by enabling vehicles to accurately perceive and navigate complex urban environments. VPS enhances the perception capabilities of autonomous vehicles by providing precise localization and mapping data, facilitating safe and efficient navigation in challenging scenarios such as crowded streets, parking lots, and construction zones. Moreover, VPS technology plays a crucial role in advanced driver assistance systems (ADAS), enhancing collision avoidance, pedestrian detection, and lane-keeping functionalities, thereby improving overall road safety.
The competitive landscape of the VPS market is characterized by intense rivalry among key players striving to innovate and differentiate their offerings. Established technology giants, startups, and automotive manufacturers are investing heavily in research and development to enhance the accuracy, reliability, and scalability of VPS solutions. Additionally, strategic partnerships, collaborations, and mergers & acquisitions are prevalent in the market as companies seek to expand their product portfolios, enter new markets, and gain a competitive edge.
Moreover, government initiatives promoting the adoption of VPS technology, stringent regulations related to safety and compliance, and increasing consumer awareness about the benefits of location-based services are further driving market growth. However, challenges such as privacy concerns, data security risks, and technical limitations related to environmental factors such as lighting conditions and occlusions pose significant hurdles to widespread adoption."
Report Attribute/Metric | Details |
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Market Size Value In 2023 | USD 10,123.2 Billion |
Growth Rate | 11.7 % (2023-2032) |
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)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
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)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
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.
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.
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.
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.
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
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.
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.
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