Press release
What's Driving the Positioning Services Market 2025-2034: Autonomous Vehicles Driving Growth In Positioning Systems Market
Driving the Positioning Services Market
The market size for positioning services has seen a rapid increase in recent years. The market is projected to expand from $30.83 billion in 2024 to $35.05 billion in 2025, with a compound annual growth rate (CAGR) of 13.7%. The historical period of growth is due to factors such as swift urbanization, a strong automotive industry, the use of digital marketing and online channels, a growing dependency on location-based data, and a renewed emphasis on the customer's perspective in product positioning.
The market size for positioning services is forecasted to experience exponential growth in the coming years. The prediction states that by 2029, it will reach $57.76 billion, growing at a compound annual growth rate (CAGR) of 13.3%. This growth during the projected period is credited to an increased focus on intelligent and connected technologies, the broadening applications in precision agriculture, a surge in demand for geospatial imagery analytics, mapping, and GIS applications, along with the integration of 5G networks and the rise of e-commerce. The major trends predicted for this forecast period involve the adoption of GPS technology, progress in automotive navigation, advancements in positioning technology, innovations in satellite technology, and other technological advancements.
What Is Stimulating Growth in the Positioning Services Market?
The growth of the positioning services market is anticipated to be fueled by the rising number of autonomous vehicles. Self-driving cars, equipped with advanced sensors, AI and computer systems, are able to function and navigate without incessant human supervision. The rising popularity of these vehicles can be attributed to advancements in AI and sensor tech, along with significant efforts by private entities and governments to promote transport safety and efficiency. Comprehensive, reliable positioning services play a pivotal role in the creation and operation of self-propelled vehicles, enhancing their safety and overall performance. As an example, predictions by the US-based National Association of Insurance Commissioners in December 2022 suggest the presence of 3.5 million autonomous vehicles on US roads by 2025, and 4.5 million by 2030. Consequently, this surge in autonomous vehicles propels the growth of the positioning services market.
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Which Businesses Are at the Forefront of Positioning Services Market Development?
Major companies operating in the positioning services market are Stonex Group Inc., Qualcomm Inc., Honeywell International Inc., Broadcom Inc., Texas Instruments Inc., STMicroelectronics NV, Hexagon AB, Garmin Ltd., Nikon Corporation, Rockwell Collins Inc., Trimble Inc., Topcon Corporation, Leica Geosystems AG, TomTom N.V, NovAtel Inc., CHC Navigation, Eos Positioning Systems, Avidyne Corporation, Hemisphere GNSS Inc., Javad GNSS Inc., Septentrio Inc., Spectra Geospatial, ComNav Technology Ltd., Geneq Inc., Pentax Corporation, Kolida Instrument Co. Ltd.
What Are the Latest Innovations in the Positioning Services Market?
Major firms involved in the positioning services sector are cultivating unique solutions such as Real-Time Kinematic (RTK) service to deliver highly precise and current data for industrial applications. Real-Time Kinematic service is essentially a satellite navigation tool that gives high-fidelity location information by adjusting GPS signals instantly, thereby allowing centimeter-level precision for positioning. For example, in August 2024, Onocoy, an information services company based in Switzerland, unveiled onocoy RTK. This is a high-precision, blockchain-integrated Real-Time Kinematic (RTK) positioning service that offers worldwide reach and trustworthy precision for sectors like agriculture, construction, and robotics. onocoy RTK also provides a decentralized, hardware-neutral network intended for effortless integration and economically efficient positioning solutions.
How Is the Positioning Services Market Segmented?
The positioning services market covered in this report is segmented -
1) By Type: Indoor Positioning, Outdoor Positioning
2) By Application: Navigation, Surveying And Mapping, Fleet Management, Geotagging, Other Applications
3) By End-User: Transportation And Logistics, Defense And Military, Healthcare, Aerospace, Agriculture, Consumer Electronics, Other End-Users
Subsegments:
1) By Indoor Positioning: Wi-Fi-Based Positioning, Bluetooth-Based Positioning, Ultra-Wideband (UWB) Positioning, RFID-Based Positioning, Magnetic-Based Positioning, Infrared (IR) Positioning, Ultrasound Positioning, Zigbee-Based Positioning
2) By Outdoor Positioning: GPS (Global Positioning System), GNSS (Global Navigation Satellite System), Wi-Fi-Based Positioning, Cellular-Based Positioning, Bluetooth Low Energy (BLE)-Based Positioning, Radio Frequency-Based Positioning, Geographic Information Systems (GIS)-Based Positioning, Satellite-Based Positioning Systems (SBPS)
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Where Is the Positioning Services Market Growth Most Prominent?
North America was the largest region in the positioning services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the positioning services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Positioning Services Global Market Report?
- Market Size Analysis: Analyze the Positioning Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Positioning Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Positioning Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Positioning Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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