ID: MRFR/SEM/2313-HCR | 100 Pages | Published By Shubham Munde on March 2023
The vision positioning system market 2020. The camera, display, and lighting industry reports are produced by Market Research Future, which highlights market options for expansion. The market stands to gain USD 13.32 Billion while progressing at a 10.87% CAGR by 2023.
The vision positioning system is a way of placing a system using optical sensors, image data, and ultrasonic to guide several instruments for identifying its current position. With the help of optical sensors, the system facilitates information of the distance which is required to avoid a collision. The vision positioning system market allows access to a large number of information about the position and location using visual positioning sensors, extracting visual features to straightforward positioning and representation of the environment. Even though it processes a large chunk of data from each sensor, it completes all the complex calculations in real-time. The camera features are the predominant part of the vision positioning systems. The real-time information delivery propels the growth of the global vision positioning system market.
In present times, the rising demand for automation systems in industrial operations is surging the expansion of the vision positioning system market size. Over the years, the adoption and implementation of vision indoor positioning systems in indoor navigation have increased to the next level due to their ability to handle different kinds of operations. The rapid escalation in the adoption of these systems has resulted in the rise of the vision positioning system market share. The consistent evolution in the sensors of CMIOS acts as a market booster for the global vision positioning system market. Through the production of miniature machine vision systems by the vision positioning system manufacturers provides innumerable opportunities for the market players in the same field.
The report depicts a detailed analysis of the global vision positioning system market structure along with the valuation and growth rate during the forecast years. It includes the effect of the CoVID19 pandemic on the vision positioning system market. The report highlights the factor affecting the growth of the vision positioning system market share and discusses the market segments and sub-segments. Along with that, it also explains the key players of the vision positioning system market and provides an analysis of different geographies that influence the market growth.
With the outbreak ofCOVID19 pandemic, the global economy stooped down much lower growth rates. Several businesses and offices remained closed, which incurred heavy financial losses. The stringent lockdown systems have resulted in the closure of operational work in industries due to which the supply chain got disturbed. The gap between the demand to supply kept distancing, and the growth rate in the world economy kept decreasing. However, the global vision positioning system market sustained even in this adverse situation and maintained its rate of growth as the demand for automation for industrial operations increased.
During the lockdown, manual operations were restricted in many industries, which shifted the industrial needs from manual work to automation. Due to this, several industries opted for automation, and the dependence on automation escalated the potential of the vision positioning system market. The ability to perform numerous operations using the vision indoor positioning systems for indoor navigation is raising the demand of the vision positioning system market in the near future.
The global vision positioning system market is emerging at a faster rate in recent years and is anticipated to attain its momentum in the forecast period. The vision positioning sensors enable systems to operate in an automated way for providing location information with collision avoidance. Such a feature makes it quite suitable for industrial operation. The modern world is progressing towards more automation applications in industries that propel the growth of the vision positioning system market. The vision positioning systems are able to process complex calculations in real-time, which advantage the market growth and helps vision positioning system market leaders to increase their profitability. With the advent of miniature machine vision systems, the global vision positioning system market growth is reaching greater heights.
The constant evolution and development in CMIOS image sensors advantage the expansion of vision positioning system market size. There are numerous facilities that the vision positioning system market provides for indoor navigation, which in turn elevates the potential of the vision indoor positioning system market in the forecast years.
Significant opportunities for the market:
With the increase in automation applications of the industries, the global vision positioning system market is evolving rapidly. The ability of vision positioning sensors to analyze distance information allows access to numerous applications in industrial operations. Visual positioning systems allow for processing complex calculations in real-time, which increases its market growth opportunities.
The development of miniature machine vision systems helps vision positioning system manufacturers to improve their profits as the demand is rising at a faster pace. Within few years, the vision indoor positioning system market will progress to the highest levels due to the increase in the utilization of vision positioning systems in indoor navigation. The rising demand for several applications of these systems will boost the growth of the vision positioning system market in the next many years.
The epidemic of coronavirus has affected the global vision positioning system market and acts as a constraint in the path of market growth. During the pandemic, strict lockdown measures forced industrial operations to shut down, which created disruptions in the supply chain which constricted the expansion of vision positioning system market size. However, the closure of manual operations in industries demanded more automated systems, which maintained the growth rate of the vision positioning system market.
Market Growth Challenges:
Vision positioning systems provide a wide range of facilities that enhances the potential of the global vision positioning system market. However, the vision positioning system market possesses certain challenges too. One such major challenge is the requirement of education and intensive training for operating these systems. The need for enabling entry of machine vision systems in the new markets also restrains the growth of the vision positioning system market.
Value Chain Analysis:
The vision positioning system market is one of the fastest-growing markets of recent times, and the revenue generation is reaching maximum heights over the years. By the end of the year 2023, the value of the vision positioning system market share will be way higher and will exceed the previous historic growth of the market.
The global vision positioning system market is fragmented into various parts on the basis of solution, component, platform, location, type, end-user, and region. The vision positioning system market segmentation on the basis of the solution includes tracking solutions, analytic solutions, navigation solutions, industrial solutions, and many more. On the basis of components, the global vision positioning system market segment comprises camera systems, sensors, markers, and others. The platform segment consists of robotics, unmanned aerial vehicles or drones, space vehicles, automated guided vehicles, etc.
The global vision positioning system market segmentation by type involves 1D, 2D, and 3D. On the basis of end-user, the vision positioning system market segment includes automotive, BFSI, industrial, healthcare, commercial, government sectors, and others. By region, the vision positioning system market segment involves different regions like North America, Asia-Pacific, Europe, and other parts of the world.
The global vision positioning system market is studied in certain geographies such as North America, Asia-Pacific, Europe, and other parts of the world. The rise in demand for innovative technology in North America is boosting the vision positioning system market growth in that region. North America accounts for the largest vision positioning system market share due to the increased implementation of drones, robotics, automated guided vehicle, and applications in civil as well as commercial sectors. The European region is also showing positive growth in recent times and is anticipated to reach optimum levels during the forecast period. In Asia-Pacific countries, the commercial segment is expected to drive the global vision positioning system market.
Competitive Landscape of the market:
The global vision positioning system market prominent key players are:
The study reveals that Europe can exhibit a positive growth curve in the global market for Vision Positioning, thanks to the technological advancements and rising demand in aircraft and flight.
The vision positioning system market is expected to attain a growth rate of 10.87 percent between 2017 to 2023.
The Vision Positioning system market growth is dependent on the increasing demand for automation in industrial applications.
Soaring demand for miniaturization of machine vision system is expected to be one of the most lucrative opportunities for the market players in the upcoming years.
The top industry participants are ABB (Switzerland), Pepperl+Fuchs GmbH (Europe), Seegrid Corporation (U.S), Sick AG (Germany), Parrot SA (France), DJI (China), Senion AB (Europe), Omron Corporation (Japan), Cognex Corporation (U.S.), among others.
The global vision positioning system market is projected to reach USD 13.32 billion towards the end of the year 2023.
The North American region holds the maximum vision positioning system market share due to the rapid adoption of innovative technologies.