The vision positioning system market is projected to grow from USD 5.58 Billion in 2017 to USD 9.25 Billion by 2022, at a CAGR of 10.65% during the forecast period. Vision positioning systems provide real-time information about the surroundings in which they are installed. Factors such as growth in usage of indoor and outdoor positioning system as well as increasing industrial automation for efficiency and lower operating expenses are driving the growth of the market.
Vision positioning systems consists of various components such as sensors, camera systems, markers, and other electronic components. These components are used to carry out various tasks. Camera systems is the largest and fastest-growing component sub segment of the market.
The market is segmented based on location of implementation into indoor and outdoor environment. Indoor systems are used in factories, indoor warehousing, and indoor navigation, among others. Outdoor systems are used for outdoor mapping, warehousing in container depots, drones, and military robotics. Indoor segment is the largest segment for market, by location.
Based on application, the market has been segmented into commercial and defense. The commercial segment is projected to grow at the highest CAGR during the forecast period of 2017 to 2022. The demand from commercial applications is due to the rise in industrial automation in logistics & warehouse management. Other commercial applications include healthcare and navigation in retail stores. Drone based vision positioning systems are increasingly being used in media & entertainment and security applications.
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Vision positioning systems are installed on UAV drones, automated guided vehicles, robotics, automated undersea vehicles, space vehicles, and other platforms. The robotics and automated guided vehicles segment is the largest platform segment of the vision positioning system market. In this platform, vision positioning systems are extensively used in manufacturing and warehouse management. The UAV drones are used for surveillance and location mapping. Drones are also used extensively in commercial and defense applications. Autonomous undersea vehicles are an emerging platform for vision positioning systems. They are used for deep sea exploration and surveillance to depths where manned vehicles are dangerous to operate or unable to operate due to design limitations. UAV drone is the largest platform for vision positioning systems.
Based on solution, the vision positioning system market is segmented into tracking, navigation, analytics, industrial solutions, and others. Industrial solutions is the largest solution segment for vision positioning systems due to the rapid growth in industrial automation. Analytics and navigation solutions are widely used in healthcare and retail sectors to manage these places using big data.
Government regulations are a hurdle for use of drone platforms in civilian aerospace. Their widespread usage has led to privacy, security, and safety related issues. Many countries have banned usage of drones without registration.
Key players profiled in the vision positioning system market report are DJI (China), ABB (Switzerland), Sick AG (Germany), Cognex Corporation (U.S.), Omron Corporation (Japan), FANUC Corporation (Japan), Seegrid Corporation (U.S.), and Senion AB (Sweden), among others. Contracts is the major growth strategy adopted by the top market players to strengthen their position in the market.
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