(PharmaNewsWire.Com, November 30, 2021 ) The report "Vision Positioning System Market by Component (Sensors, Camera Systems, Markers), Location (Indoor Positioning, Outdoor Positioning), Solution, Platform, Application (Commercial, Defense), and Region - Global Forecast to 2022" The vision positioning system market is estimated to be valued at USD 5.58 billion in 2017 and is projected to reach USD 9.25 billion by 2022, at a CAGR of 10.65% from 2017 to 2022. With the advent of the GPS (Global Positioning System) technology, the application of positioning systems has increased significantly. Positioning systems are extensively used for outdoor navigation in various sectors, such as defense, tourism, and logistics & transportation, among others. However, for navigation in indoor locations, the GPS-based positioning systems lack accuracy and signal strength. Besides, GPS signals are also restricted over various high sensitive areas, such as military bases, research labs, and underground locations. Hence, vision positioning systems are extensively used for local navigation in these areas.
The camera systems segment is expected to lead in the vision positioning system market.
Camera systems are used to capture real-time images to the processors which store the images in memory. In camera systems various sensors are used, such as pressure, heat, proximity, and accelerometers, among others that provide information about the environment. Other components such as processors and communication devices control operations and provide operational data to operators.
The commercial sector is projected to witness high growth during the forecast period.
The commercial application segment is estimated to account for the largest share of the vision positioning system market in 2017 due to the high usage of vision positioning systems in the automotive industry and increasing automation in various other industries in almost all countries across the world. This segment is also projected to grow at the highest CAGR from 2017 to 2022.
Asia Pacific is the fastest-growing market for vision positioning systems during the forecast period.
The growth of the Asia Pacific vision positioning system market can be attributed to the increased demand for industrial automation in Asian countries such as China, Japan, and India. The Asia-Pacific market growth can be attributed to the increasing use of drones for military surveillance and the increase in industrial automation.
Key players offering vision positioning systems include ABB (Switzerland), DJI (China), Sick AG (Germany), FANUC Corporation (Japan), and Locata Corporation (Australia), among others.
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