Press release
Positioning Services Market Expansion Continues, with Forecast Valuation of $56.13 Billion by 2029
Positioning Services Market
How Large Will the Positioning Services Market Size By 2025?
The market size of positioning services has exhibited swift growth over the past few years. The projections show an increase from $30.83 billion in 2024 to $34.9 billion in 2025, indicating a compound annual growth rate (CAGR) of 13.2%. The historical period growth is due to various factors such as quick-paced urbanization, a thriving automotive industry, widespread use of digital marketing and online platforms, an escalated dependence on location-based information, and a shift in concentration towards consumer-oriented product positioning.
How Big Is the Positioning Services Market Size Expected to Grow by 2029?
Over the coming years, the market size for positioning services is anticipated to experience swift expansion, reaching a value of $56.13 billion in 2029 with a 12.6% Compound Annual Growth Rate (CAGR). This predicted growth can be credited to the increasing focus on smart and interconnected technologies, the rise of precision agriculture applications, the growing need for geospatial imagery analytics, mapping, GIS applications and the integration of 5G networks, as well as the surge of e-commerce. Important trends for the forecasted period encompass the implementation of GPS technology, progress in automotive navigation, advancements in positioning technology, the evolution of satellite technology, and other technological advancements.
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Which Key Market Drivers Powering Positioning Services Market Expansion and Growth?
The rise in autonomous vehicles is anticipated to boost the expansion of the positioning services market. These self-operating vehicles utilize high-end sensor technologies, computer systems, and artificial intelligence in order to navigate and function without the need for constant human supervision or intervention. This rise in autonomous vehicles can be attributed to improvements in artificial intelligence and sensor technology, underscored by significant investments and backing from private corporations and government entities aimed at reinforcing safety and efficiency in transportation systems. Precise and dependable positioning services are essential for the creation and operation of autonomous and self-driving vehicles, allowing for enhanced safety and functionality of automotive vehicles. To illustrate, the National Association of Insurance Commissioners, a non-profit organization based in the U.S., predicted in December 2022 that by 2025, there will be approximately 3.5 million autonomous vehicles on American roads and this number is expected to rise to 4.5 million by 2030. Hence, the growing prevalence of autonomous vehicles is a driving force for the positioning services market.
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Which Fast-Growing Trends Are Poised to Disrupt the Positioning Services Market?
Leading companies in the positioning services market are introducing pioneering solutions such as RTK (Real-Time Kinematic) service, which offers high precision, real-time information for various industrial applications. The RTK service is a satellite navigation method that renders highly precise location data by rectifying GPS signals instantaneously, facilitating centimeter-standard precision for positioning. For example, in August 2024, a Switzerland-based information services firm, Onocoy, introduced onocoy RTK. This system, powered by blockchain technology, is a high-accuracy Real-Time Kinematic (RTK) positioning service with worldwide coverage, providing dependable precision for applications in sectors such as agriculture, construction, and robotics. Onocoy RTK presents a hardware-independent, decentralized network developed for convenient integration and budget-friendly positioning solutions.
What Are the Emerging Segments in the Positioning Services Market?
The positioning servicesmarket 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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Who Are the Global Leaders in the Positioning Services Market?
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.
Which are the Top Profitable Regional Markets for the Positioning Services Industry?
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.
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