Press release
Positioning Systems Market Size Projected To Reach $198.82 Billion By 2034 With A Cagr Of 16.3%
Positioning Systems
What Is the Projected Growth of the Positioning Systems Market?
The positioning systems market has experienced rapid growth in recent years. It is forecast to grow from $93.34 billion in 2024 to $108.78 billion in 2025 at a CAGR of 16.5%. This growth is attributed to rapid urbanization, the development of smart cities, the rise of GPS-enabled vehicles, increased use of social media, and the growing adoption of e-hailing services.
The positioning systems market is expected to experience rapid growth, reaching $198.82 billion by 2029 with a CAGR of 16.3%. Factors driving this growth include the increasing demand for location-based services (LBS), the adoption of autonomous vehicles, the need for positioning systems in precision agriculture, the integration of 5G networks, and rising smartphone penetration. Major trends include the use of IoT devices, advancements in positioning technology, and integration with connected cars.
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What Are the Different Positioning Systems Market Segments?
The positioning systems market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology: Satellite-Based, Non-Satellite Based
3) By Application: Navigation, Surveying And Mapping, Fleet Management, Geotagging, Other Applications
4) By End-User: Transportation And Logistics, Defense And Military, TH*Care, Aerospace, Agriculture, Consumer Electronics, Other End-Users
Subsegments:
1) By Hardware: GPS Receivers, Antennas, Sensors (Accelerometers, Gyroscopes), Processors, RF Modules, Other Hardware Components
2) By Software: Navigation Software, Mapping And Visualization Software, Positioning Software (GNSS, RTK, And Others), Data Processing Software, Application Software (Location-Based Services, Fleet Management)
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Cloud-Based Positioning Services, Training Services, Data Services (Satellite Data, Location-Based Analytics)
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What Are the Primary Drivers Shaping the Positioning Systems Market?
The increasing number of autonomous vehicles is also expected to drive the growth of the positioning systems market. Autonomous vehicles rely on precise positioning systems to ensure safe and reliable operation. Advances in AI, sensor technologies, and government support are driving the popularity of these vehicles. For instance, the National Association of Insurance Commissioners expects 3.5 million autonomous vehicles on US roads by 2025. As the number of autonomous vehicles increases, so does the need for positioning systems.
Which Companies Are Leading in the Positioning Systems Market?
Major companies operating in the positioning systems market are General Electric Company, A.B Volvo, Qualcomm Inc., Broadcom Inc., ABB Ltd., L3 Harris Technologies Inc., Rolls Royce PLC., Wartsila, Hexagon AB, Trimble Navigation Ltd., Kongsberg Gruppen ASA, MiTAC Digital Technology Corporation, Royal IHC Ltd., Norr Systems Pte Ltd., RH Marine, Twin Disc inc., Moxa Inc., Alphatron Marine BV, Sonardyne International Ltd., Reygar Ltd., Thrustmaster of Texas Inc., Marine Technologies LLC, Navis Engineering, Raytheon Anschutz, Praxis Automation Technology BV
What Trends Are Driving Growth in The Positioning Systems Market?
Companies in the positioning systems market are advancing visual positioning systems (VPS) to enhance localization and navigation in real-world applications. VPS uses visual data from cameras or sensors to track objects or devices. For example, Immersal Oy, a Finland-based company, launched the Immersal City-Scale VPS in February 2023. This system utilizes computer vision and machine learning to provide precise indoor and outdoor positioning, making it valuable for smart city projects, retail, and facility management.
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What Are the Top Revenue-Generating Geographies in the Positioning Systems Market?
North America was the largest region in the positioning systems market in 2023. The regions covered in the positioning systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Positioning Systems Market?
2. What is the CAGR expected in the Positioning Systems Market?
3. What Are the Key Innovations Transforming the Positioning Systems Industry?
4. Which Region Is Leading the Positioning Systems Market?
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