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Autonomous Vehicles Driving Growth In Positioning Systems Market: Core Growth Enabler in the Positioning Systems Market, 2025
Positioning Systems Market
What Will the Positioning Systems Industry Market Size Be by 2025?
In recent years, the market size for positioning systems has witnessed swift expansion. It is projected to increase from a value of $93.34 billion in 2024 to $108.78 billion in 2025, yielding a compound annual growth rate (CAGR) of 16.5%. Factors contributing to the growth during the historical period include fast-paced urbanization, the emergence of smart cities, an increase in the number of GPS-enabled vehicles, a swell in social media usage and a rise in the demand for e-hailing services.
What's the Long-Term Growth Forecast for the Positioning Systems Market Size Through 2029?
The market size of positioning systems is anticipated to witness significant expansion over the coming years, reaching $198.82 billion by 2029, with a compound annual growth rate (CAGR) of 16.3%. The projected growth within this period is due to factors such as escalating demand for location-based services (LBS), the rise in the usage of autonomous vehicles, mounting requirement for positioning systems in precision farming, the incorporation of 5g networks, and the expanding infiltration of smartphones. Key trends that are expected to dominate this period are the employment of Internet of Things (IoT) devices, advancements in the technology of positioning, focus on driver-assistance technologies and connected cars, large-scale infrastructure enhancement, and integration of GPS technology.
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What Are the Key Growth Drivers Fueling the Positioning Systems Market Expansion?
The growth of the positioning systems market is predicted to be accelerated by the rising number of self-driving cars. These autonomous vehicles use complex sensor technologies, computer systems, and artificial intelligence, negating the need for ongoing human supervision or intervention. The proliferation of these vehicles is due to advancements in artificial intelligence and sensor technology, bolstered by significant investment and support from private firms and government bodies, aimed at boosting safety and efficiency in the transport sector. Positioning systems play a pivotal role as they provide the essential accuracy, integrity, and shared reference frame needed for reliable autonomous driving as these vehicles gain popularity. For example, the National Association of Insurance Commissioners, a non-profit organization in the US, predicts that by 2025 there will be 3.5 million autonomous vehicles on US roads, rising to 4.5 million by 2030. Consequently, the surge in autonomous vehicles propels the positioning systems market.
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What Are the Key Trends Driving Positioning Systems Market Growth?
Key players in the positioning systems market are concentrating on the advancement of positioning technology such as Visual Positioning Systems (VPS) to establish a competitive advantage. VPS technology allows for precise object or device placement and navigation in the physical environment through the use of visual data gathered from sensors or cameras. For instance, in February 2023, the Finland-based augmented reality firm Immersal Oy debuted the Immersal City-Scale Visual Positioning System. This revolutionary system employs computer vision and machine learning to offer dependable and accurate indoor and outdoor positioning that enhances augmented reality experiences. The Immersal system provides numerous advanced functions, such as auto 3D mapping, real-time localization, and compatibility with many devices, making it a helpful tool for numerous applications like smart city initiatives, facility management, and retail experiences.
How Is the Positioning Systems Market Segmented?
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, Healthcare, 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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Which Companies Are Leading the Charge in Positioning Systems Market Innovation?
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
Which Regions Are Leading the Global Positioning Systems Market in Revenue?
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.
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