Vision Positioning System Market Share, Demand, Growth, Key Opportunities, Key Players and Industry Analysis By 2023
February 25, 2020 by Market-NewsFlash
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.
Global Vision Positioning System Market — Competitive Landscape
The Vision Positioning System market is fiercely competitive owing to the various dynamic and diversified international players existing in the market forming a competitive landscape. Constantly innovating market leaders seek market expansion through various strategic M&A activities and increasing investments in R&D activities strive to develop the portfolio for cost-effective solutions.
Vendors are improving their market performance and acquiring promising companies to expand in the rapidly growing markets. In view of immense revenue generation opportunities of the market new entrants are increasingly getting attracted only to find it further challenging to survive with the new technologies.
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.
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.
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