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Autonomous Vehicles Driving Growth In Visual Positioning Systems Market: An Emerging Driver Transforming The Visual Positioning System Market Landscape
Visual Positioning System Market Size
What Is the Projected Growth of the Visual Positioning System Market?
The visual positioning system market has grown rapidly in recent years. It will rise from $12.49 billion in 2024 to $14.32 billion in 2025, at a CAGR of 14.6%. This growth is attributed to the surge in smart city initiatives, the need for precise applications like public safety and traffic management, increased investments in automotive sectors, and growing demand for drones and accurate navigation solutions.
The visual positioning system market is expected to experience rapid growth, reaching $24.49 billion in 2029 at a CAGR of 14.4%. The growth is driven by the increased use of automated guided vehicles (AGVs), unmanned aerial vehicles (UAVs), urbanization, smartphone usage, internet connectivity, and autonomous vehicle development. Key trends include demand for AI-enabled optical sensors, technological advancements, visual simultaneous localization and mapping improvements, innovative solutions, and machine vision technology advancements.
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What Are the Different Visual Positioning System Market Segments?
The visual positioning system market covered in this report is segmented -
1) By Component: Sensors, Camera Systems, Markers, Other Components
2) By Type: 1D (One-Dimensional), 2D (Two-Dimensional), 3D (Three-Dimensional)
3) By Solution: Navigation, Analytics, Tracking, Industrial Solutions, Other Solutions
4) By Location: Indoor Positioning System, Outdoor Positioning System
5) By Application: Commercial Application, Retail, Healare, Industrial, Transportation And Logistics, Hospitality, Defense Application, Other Applications
Subsegments:
1) By Sensors: Optical Sensors (Photodetectors), Lidar Sensors (Light Detection And Ranging), Inertial Measurement Units (Imus) (Gyroscopes, Accelerometers), Ultrasonic Sensors (For Distance Measurement), Magnetic Sensors (For Orientation And Positioning), Gps Sensors (For Hybrid Systems)
2) By Camera Systems: Monocular Cameras (Single Lens For Positioning), Stereo Camera Systems (Two Cameras For Depth Perception), 360-Degree Cameras (Panoramic Cameras For Complete Spatial Coverage), Depth Cameras (Time-Of-Flight Cameras), Infrared Cameras (Used For Low-Light Or Night-Time Positioning), Rgb Cameras (Standard Cameras For Image Processing)
3) By Markers: Qr Code Markers (For Machine Vision-Based Positioning), Fiducial Markers (Distinct Visual Patterns For Positioning), Barcodes (For Indoor Navigation And Item Tracking), Ar (Augmented Reality) Markers (Used In Ar-Based Positioning Systems), Optical Flow Markers (For Dynamic And Real-Time Positioning), Custom Visual Markers (Designed For Specific Positioning Needs)
4) By Other Components: Processing Units (Microcontrollers, Gpus For Data Processing), Software And Algorithms (For Image Processing, Position Estimation), Communication Modules (Wi-fi, Bluetooth, Li-Fi), Power Supply Units ( Batteries, Power Management Systems), Mounting Hardware (Brackets, Supports For Sensors And Cameras), Calibration Tools (To Ensure Accurate Measurements And Alignment)
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What Are the Primary Drivers Shaping the Visual Positioning System Market?
The growing number of autonomous vehicles is expected to drive the visual positioning systems market. Autonomous vehicles rely on advanced sensor technologies and AI to navigate without human intervention. Visual positioning systems support these vehicles by providing the necessary spatial accuracy for safe navigation. According to the National Association of Insurance Commissioners, the number of autonomous vehicles on U.S. roads is expected to reach 3.5 million by 2025, contributing to the growth of the visual positioning systems market.
Which Companies Are Leading in the Visual Positioning System Market?
Major companies operating in the visual positioning system market are Google LLC, Qualcomm Inc., Broadcom Inc., ABB Ltd., MediaTek Inc., STMicroelectronics, Infineon Technologies AG, Omron Corporation, Fanuc Corporation, Hexagon AB, Trimble Inc., Sick AG, MiTAC Digital Technology Corporation, Topcon Corporation, Pepperl + Fuchs Inc., Cognex Corporation, Niantic Inc., Twin Disc inc., Sonardyne International Ltd., Navis Engineering, Praxis Automation Technology BV
What Are the Latest Developing Trends in the Visual Positioning System Market?
In the visual positioning system (VPS) market, companies are focusing on augmented reality (AR) platforms to gain a competitive advantage. AR-based VPS enhances users' understanding of their surroundings by integrating virtual information with real-world elements. For example, in May 2022, Niantic introduced the Lightship VPS system, which allows multiple users to see the same AR content in the same physical location. This synchronization is achieved by sharing a common map, ensuring that users experience the same virtual content in real-time.
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What Are the Top Revenue-Generating Geographies in the Visual Positioning System Market?
North America was the largest region in the visual positioning system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the visual positioning system 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 Visual Positioning System Market?
2. What is the CAGR expected in the Visual Positioning System Market?
3. What Are the Key Innovations Transforming the Visual Positioning System Industry?
4. Which Region Is Leading the Visual Positioning System Market?
Why This Report Matters:
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Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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