Vision Positioning System Market Size, Share & Trends Analysis Report By Component (Sensors, Camera, Markers), By Location (Indoor, Outdoor), By Platform, By Application (Defense, Healthcare), By Region, And Segment Forecasts, 2024 - 2030

Vision Positioning System Market Trends

The global vision positioning system market size was estimated at USD 5.40 billion in 2023 and is growing at a CAGR of 12.6% from 2024 to 2030. The market expansion of visual positioning systems is primarily fueled by the increasing demand for automation in a variety of industrial operations. These systems are crucial for enabling automation and boosting industry operational efficiency. Furthermore, the rising popularity of unmanned aerial vehicles (UAVs), increasing demand for Artificial Intelligence (AI) enabled optical sensors, and growing application of Automated Guided Vehicles (AGVs) for commercial and defense applications are all anticipated to significantly contribute to market growth.

The market is witnessing an upsurge in demand owing to the deployment of UAVs, which are used to collect data from remote locations. Companies across various industries have been actively exploring and implementing new launches of UAVs to enhance their operations and services. For instance, in November 2023, Airbus U.S. Space and Defense collaborated with the U.S. Department of Defense and launched a new business segment focused on military UAVs. With an emphasis on system deployment, scaling, and optimization led by experienced industry professionals and former military drone operators. This initiative aims to address the evolving needs of defense applications with advanced UAV technology.

The growing popularity of autonomous vehicles, including drones and cars, is propelling innovation and the adoption of visual positioning systems. Companies such as Tesla, Waymo, Amazon, UPS, and DHL are actively exploring VPS technology for their autonomous vehicle projects. The growing prevalence of VPS technology for transportation solutions is a result of a global emphasis on developing smart cities. Furthermore, VPS plays a significant role in assisting sustainable urban planning initiatives. By providing valuable data on traffic patterns, pedestrian movements, and public space utilization, VPS contributes essential insights for urban planners to design more efficient and environmentally friendly cities.

The ongoing advancements in camera systems, sensors, artificial intelligence (AI), and data analytics are leading to developments in vision positioning systems. Constant innovations, business expansion strategies, new product launches, and strategic alliances formed by the companies in the industry are expected to further fuel market growth. Companies are strategically leveraging these technologies to enhance their products and services For instance, in February 2024, ABB Ltd. acquired Sevensence, a supplier of AI-driven 3D vision navigation technology for autonomous mobile robots (AMRs). This acquisition signifies a strategic investment in advanced AI-driven navigation technology that is poised to reshape the landscape of autonomous mobile robotics and drive innovation across industries.

Industrial automation is gaining popularity across multiple industries due to the growing demand for high-quality products and the necessity for productive and affordable manufacturing processes. Operations have become more efficient and productive due to the application of robotics and artificial intelligence in manufacturing, logistics, and other fields. The incorporation of vision positioning systems within industrial automation processes has revolutionized business operations. These systems utilize cameras and sensors to provide real-time feedback on the position and orientation of objects in each space. By leveraging this technology, companies can enhance their production efficiency, ensure precise positioning of components during assembly processes, optimize material handling operations, and improve overall quality control measures. The growing adoption of these technologies, driven by the demand for high-quality products, efficient manufacturing processes, and increased productivity, is reshaping the market landscape.

Market Concentration & Characteristics

The degree of innovation in the market is anticipated to be high. Highly precise navigation systems that can operate in a variety of settings and conditions are becoming increasingly crucial as companies continue to embrace automation and autonomous technology. As a result, new technologies including deep learning-based object recognition, visual-inertial odometry, and simultaneous localization and mapping (SLAM) are being developed. For instance, HVIOnet is a deep learning-based system that combines visual and inertial data for odometry. This technology involves camera calibration, feature selection, tracking, outlier rejection, feature matching, and motion estimation. HVIOnet represents an innovative approach to integrating visual and inertial data for accurate odometry in various applications.

The level of merger and acquisition activities in the market is expected to be moderate. Companies in the VPS market are actively engaging in mergers and acquisitions to gain a competitive edge, access new markets, and drive innovation.The strategic moves are being made by key players to strengthen their positions, expand their product portfolios, and enhance their technological capabilities. For instance, in September 2022, Trimble announced the acquisition of B2W Software, a leading provider of estimating and operations solutions for the heavy civil industry. This strategic acquisition aimed to enhance Trimble's offerings in the vision positioning systems market and strengthen its position by integrating B2W Software's solutions into its portfolio.

The impact of regulations on the market is expected to be moderate to high. There is a continued focus on developing strict safety standards for autonomous systems equipped with VPS. The rising trend of standardization of data formats and communication protocols across the vision positioning systems industry is expected to further improve interoperability and facilitate communication between different systems.

The competition from product substitutes in the market is expected to be relatively low. VPS is characterized by advanced technology and specialized features that are not easily replicated by substitutes. Developing a competitive substitute for vision positioning systems requires significant investment in research and development, as well as expertise in sensor technology, computer vision, and artificial intelligence. The complexity of these systems creates a high barrier to entry for potential competitors, further reducing the likelihood of substitute products entering the market.

The end-user concentration in the market is anticipated to be high. To improve autonomous navigation and vehicle and machine operation, there is a growing need for reliable and precise positioning systems across a range of industries, including manufacturing, logistics, agriculture, and healthcare.

Component Insights

The camera segment recorded the largest revenue share of 66.5% in 2023. The growing popularity of drone deliveries for various applications such as e-commerce, logistics, and emergency services has increased the demand for advanced camera technologies. Furthermore, the expansion of this segment is driven by the need to gather visual data of the surroundings, machine vision advancements, and the emergence of autonomous vehicles, drone deliveries, and automated guided vehicles (AGVs).

The markers segment is projected to register the fastest CAGR of 13.6% over the forecast period. The increasing adoption of AI-based markers and the growing demand for marker-based VPS solutions in various industries like healthcare, defense, industrial, transportation & logistics, hospitality, and others is fueling the market growth. In addition, the growth is driven by the growing application of LiDAR (Light detection and ranging) along with other sensors beside cameras to provide an exhaustive view of the surroundings.

Location Insights

The outdoor segment accounted for the largest market share in 2023. This can be attributed to the rising demand for vision positioning systems that are more reliable, accurate, and data-rich to navigate around traditional GPS limitations in outdoor settings. The market is growing owing to the escalating popularity of VPS in building infrastructure and smart city programs. In addition, advancements in accuracy, resilience in severe outdoor environments, and real-time data processing are some of the innovations in VPS technology that are driving the market's expansion.

The indoor segment is expected to register a considerable CAGR from 2024 to 2030. This growth is attributed to the increasing need for precise indoor positioning solutions across various industries like manufacturing, warehousing, logistics, retail, and hospitality. Furthermore, as smartphones with advanced sensors and cameras become more prevalent, consumers are adopting VPS-enabled applications, which is propelling the market's growth. The market is also being fueled by the application of VPS by industries such as augmented reality (AR) and virtual reality (VR) to produce immersive interior experiences.

Application Insights

The defense segment accounted for the largest revenue share in 2023. VPS's effectiveness in defense applications is boosted by its integration with other cutting-edge technologies like artificial intelligence and machine learning, which enable adaptive navigation in difficult surroundings and autonomous decision-making. The defense sector of the VPS market is anticipated to experience steady expansion, driven by continued R&D activities and rising defense budgets globally, as defense agencies prioritize innovative solutions to handle changing security threats.

The healthcare segment is expected to register the fastest CAGR from 2024 to 2030. The growth is attributed to various factors such as technological advancements, increased demand for quality healthcare services, and the rising prevalence of chronic diseases. VPS plays a crucial role in healthcare applications, including surgical navigation, medical imaging, patient monitoring, and robotics-assisted surgeries. These systems provide accurate real-time positioning data, enhance precision during procedures, improve patient outcomes, and streamline workflow efficiency in healthcare settings.

Platform Insights

The unmanned aerial vehicles (UAVs) segment accounted for the largest revenue share in 2023. The growing popularity of UAVs in a wide range of sectors, including construction, surveying, infrastructure inspection, and agriculture, is one of the primary drivers. Furthermore, UAVs' capacity to navigate and operate in difficult settings is becoming more reliable owing to advancements in technology in visual positioning systems, including enhancements of sensors, cameras, and image processing algorithms. This makes them more suitable for a wider range of applications, which is driving the market expansion.

The automated guided vehicles segment is anticipated to record a significant CAGR from 2024 to 2030. The growth is attributed to the increasing adoption of AGVs in various industries for material handling and transportation tasks, contributing to enhanced operational efficiency, reduced manual labor, and streamlined material flow within industrial and logistical environments. The integration of AGVs into existing systems and processes, along with the development of AI-integrated AGVs equipped with advanced technologies like machine learning and natural language processing, is expected to present lucrative growth opportunities within the AGVs.

Regional Insights

North America accounted for the largest market share of 37.4% of the overall revenue in 2023, owing to the region's significant investments in VPS innovation, adoption, and implementation across a range of industries, including aerospace, logistics, and the automotive industry. Furthermore, the presence of tech businesses, research centers, and a thriving startup ecosystem is further fueling the market growth.

U.S. Vision Positioning System Market Trends

The vision positioning system market in the U.S. accounted for a significant revenue share in 2023, driven by increasing demand across various industries for precise and real-time location tracking and navigation capabilities.

Asia Pacific Vision Positioning System Market Trends

Asia Pacific is projected to be the fastest-growing market, anticipating a remarkable CAGR from 2024 to 2030. The primary factors driving the growth include an increase in investments in industries like automotive, aerospace, consumer electronics, and logistics as well as an upsurge in demand for UAVs and drones for a variety of applications, including mapping, surveillance, and agriculture. Furthermore, increasing industrialization, urbanization, and emerging economies are creating lucrative growth opportunities for market expansion.

The vision positioning system market in China is projected to grow at a remarkable CAGR from 2024 to 2030. The market is witnessing a surge in demand for UAVs and drones for applications like agriculture, surveillance, and mapping, further contributing to the market's growth trajectory.

The Japan vision positioning system market accounted for a significant revneue share in 2023. Rapid technological advancements, with companies investing heavily in research and development to enhance the accuracy and reliability of these systems is driving the market growth.

The vision positioning system market in India is expected to grow at a remarkable CAGR from 2024 to 2030. Rising demand for accurate and real-time positioning information across various industries such as automotive, agriculture, construction, and defense is key factor fueling the market growth.

Europe Vision Positioning System Market Trends

The vision positioning system market in the Europe region is anticipated to grow at a remarkable CAGR from 2024 to 2030. The European automotive industry, including companies like Volkswagen, Volvo, and Renault, is utilizing VPS technology for safety and autonomous driving applications, further contributing to market expansion.

The UK vision positioning system market accounted for a significant revenue share of the European market in 2023. The growing application of Automated Guided Vehicles (AGVs) for various defense and commercial purposes, increased demand for automated solutions in industrial processes, and the utilization of vision indoor positioning systems for interior navigation are driving the market growth.

The vision positioning system market in Germany is expected to grow at a remarkable CAGR from 2024 to 2030. The traffic management systems in Germany are employing VPS for real-time traffic monitoring and optimization, contributing to the market's expansion.

The France vision positioning system market is projected to grow at a remarkable CAGR from 2024 to 2030, driven by the dominance of camera systems and the significant revenue share of outdoor location tracking systems.

Latin America Vision Positioning System Market Trends

The vision positioning system market in the Latin America region is anticipated to grow at a remarkable CAGR from 2024 to 2030. Increased adoption of VPS in various sectors such as automotive, aerospace, consumer electronics, and logistics, and industrial automation along with the growing demand for innovative solutions are driving demand for VPS in the region.

The Brazil vision positioning system market is projected to grow at a remarkable CAGR from 2024 to 2030, driven by the increasing adoption of autonomous vehicles, advancements in technology, and the rising demand for precise navigation solutions.

Middle East and Africa Vision Positioning System Market Trends

The vision positioning system market in the Middle East and Africa region is anticipated to grow at a remarkable CAGR from 2024 to 2030. Increased investments in various sectors such as automotive, aerospace, consumer electronics, and logistics, are driving demand for VPS in the region.

The Saudi Arabia vision positioning system market accounted for significant market share in 2023. The surge in smart city initiatives, the development of autonomous vehicles, and the need for precise applications like public safety and traffic management are key factors boosting market growth in the country.

Key Vision Positioning System Company Insights

Some key players operating in the market include ABB Ltd, Cognex Corporation, and Fanuc Corporation.

• ABB Ltd. is known for its innovative solutions and contributions to the industry. The company is involved in the development and deployment of advanced technologies, including visual simultaneous localization and mapping (Visual SLAM) for autonomous mobile robots. ABB's commitment to technological advancements and strategic initiatives underscores its position as a key player in the vision positioning system market.

• Cognex Corporation is known for its significant contributions and innovative solutions in the industry. The company is recognized for its expertise in machine vision technology, offering a range of products and solutions that enhance automation, quality control, and productivity in various sectors. The company’s presence in the market underscores its role as a leading player driving advancements in vision positioning systems

Some of emerging players in the vision positioning systems market include Swift navigation, Skydio, and Cepton Technologies.

• Swift Navigation, an emerging player, is known for its advanced navigation and positioning solutions. The company's technology, including the "Piksi Multi," offers precise positioning capabilities that are crucial for various applications such as automotive, Internet of Things (IoT), and mobile applications.

• Skydio, a U.S.-based company offers innovative solutions that leverage advanced technology for precise navigation and data capture.  Their AI-powered drones can navigate complex environments autonomously, avoiding obstacles with precision using onboard cameras and sensors. Skydio’s innovative approach to vision-based navigation has garnered attention from various industries seeking reliable autonomous solutions.

Recent Developments

• In January 2024, the OMRON Corporation launched the K7DD-PQ Series, an innovative gadget for monitoring motor conditions that automates the detection of irregularities in manufacturing facilities. The series aligns with the proactive management approach of OMRON, which entails collecting, observing, and analyzing data in real-time to allow users to make well-informed decisions.

• In October 2023, SICK AG and Endress+Hauser AG collaborated to leverage process automation to aid in the energy transition. Through cooperative marketing efforts, they aim to advance SICK's Flow and Analyzer technologies while providing clients with better support in a number of sectors, including energy transition, hydrogen economy, and climate and environmental protection.

• In September 2023, Cognex Corporation launched DataMan 380 to enhance efficiency in logistics and manufacturing processes. Maximum traceability is ensured by this barcode reader's high-resolution image, which allows it to capture numerous codes in one image. It is the perfect answer for a variety of sectors due to its adaptability.

Vision Positioning System Market Report Scope

Global Vision Positioning System Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global vision positioning system market report based on component, location, platform, application, and region:

• Component Outlook (Revenue, USD Million, 2017 - 2030)

  • Sensors

  • Camera

  • Markers

  • Others

• Location Outlook (Revenue, USD Million, 2017 - 2030)

  • Indoor

  • Outdoor

• Platform Outlook (Revenue, USD Million, 2017 - 2030)

  • Unmanned Aerial Vehicles

  • Automated Guided Vehicles

  • Space Vehicles

  • Industrial Robots

  • Others

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Retail  

  • Healthcare

  • Defense

  • Industrial

  • Transportation & Logistics

  • Hospitality

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa

    • South Africa

    • Saudi Arabia 

    • UAE