Vision Positioning System Market Size, Share, Opportunities, And Trends By Component (Sensor, Camera, Marker, Others), By Location (Indoor, Outdoor), By Platform (Unmanned Aerial Vehicle, Automated Guided Vehicle, Space Vehicle, Industrial Robots, Others), By Application (Retail, Healthcare, Defense, Industrial, Transportation & Logistics, Hospitality, Others), And By Geography - Forecasts From 2023 To 2028

The vision positioning system (VPS) market is projected to show steady growth during the forecast period.

Visual Positioning System (VPS) emerges as a revolutionary approach, transcending the limitations of traditional GPS systems. Unlike GPS, which relies on satellite signals, VPS harnesses the power of computer vision to determine a device's location and orientation with remarkable precision. At the heart of VPS lies its ability to extract visual cues from a device's camera or optical sensor. These cues, such as distinctive landmarks or architectural features, are then matched against a comprehensive database of known locations and visual signatures. This intricate matching process enables VPS to accurately pinpoint the device's position in real-time. VPS technology unlocks a world of possibilities, particularly in scenarios where GPS falters. Indoor navigation, where satellite signals are often obstructed, stands as a prime example. VPS seamlessly guides users through indoor spaces, providing accurate directions and enhanced situational awareness.

Augmented reality (AR) applications also benefit immensely from VPS. By overlaying virtual content in the real world, AR enhances perception and interaction with the surrounding environment. VPS ensures that this virtual content is precisely aligned with the physical world, creating an immersive and seamless AR experience. Autonomous vehicles, the epitome of technological advancements, also rely on VPS for their navigation prowess. VPS allows these vehicles to perceive their surroundings in real-time, enabling them to navigate with precision and safety. Google Maps, the ubiquitous navigation tool, has also embraced VPS technology to provide enhanced location accuracy. When GPS signals are weak or unavailable, VPS steps in, ensuring that users are always guided on the right path.

Introduction:

The vision positioning system (VPS) market is witnessing exponential growth and is poised to continue its expansion trajectory in the years to come. This innovative technology, which leverages computer vision algorithms to determine the precise location and orientation of a device in real-time, has found widespread applications across a diverse range of industries. The increasing need for automation in industrial operations is propelling the demand for VPS. It plays a crucial role in enabling automated guided vehicles (AGVs) to navigate seamlessly within warehouses, factories, and other industrial settings. The automotive industry is rapidly embracing VPS technology. Advanced driver assistance systems (ADAS) and autonomous driving technologies rely heavily on VPS for precise positioning and navigation, enhancing safety and paving the way for self-driving vehicles.

The utilization of UAVs and drones for surveillance, mapping, and inspection purposes is fueling the demand for VPS. VPS ensures accurate positioning and data collection, enabling these aerial platforms to perform their tasks efficiently. VPS technology is revolutionizing various industries and is poised to play an even more significant role in the future.

Drivers:

• Increased demand for automated solutions in industrial operations: The growing need for efficient and accurate automated processes in manufacturing, assembly lines, and other industrial applications has led to the adoption of VPS for better control and precision.
• Adoption of new driver assistance systems and autonomous driving technologies: The automotive industry, particularly in Europe, has been a significant driver for VPS, especially in new driver assistance systems and autonomous driving technologies. This has been fueled by the increasing demand for advanced safety features and the development of self-driving vehicles.
• Expanding applications in aerospace, manufacturing, and logistics: VPS has found applications in various sectors, including aerospace, manufacturing, and logistics, due to the need for precise positioning and tracking of objects, vehicles, and systems.
• Rising use of unmanned aerial vehicles (UAVs) and drones: The growing demand for UAVs and drones in applications such as agriculture, surveillance, and mapping has driven the need for VPS to enable accurate navigation and positioning in these vehicles.

Autonomous guided vehicles (AGVs) for defense and commercial purposes: The increasing adoption of AGVs in both defense and commercial sectors has led to the demand for VPS to ensure precise positioning and navigation for these vehicles, enhancing their efficiency and effectiveness in various missions and tasks.

Products offered by key companies:

• Cognex's software empowers users to quickly set up and deploy even the most challenging 2D and 3D vision applications, making it ideal for applications such as industrial robots, space vehicles, and unmanned aerial vehicles (UAVs). The software also includes graphical programming environments for deep learning-based industrial image analysis, industrial cameras, vision controllers, frame grabbers, and I/O acquisition for complete hardware independence.
• Integrated Vision is a system offered by ABB Robotics that combines vision technology with advanced control and safety systems to provide a complete solution for various industrial applications. This system is designed to deliver high-quality, real-time vision data for precise control and monitoring in manufacturing, assembly lines, and other industrial processes.

Prominent growth in the cameras segment within the vision positioning system market:

The cameras segment within the vision positioning system (VPS) market is experiencing remarkable growth, propelled by a convergence of compelling factors. The relentless pursuit of innovation in sensor technology has resulted in the development of high-resolution cameras and imaging devices, which are indispensable components of VPS. These advancements have significantly enhanced the accuracy and reliability of VPS, broadening its applicability across diverse domains. The burgeoning demand for efficient and precise automated processes in manufacturing, assembly lines, and other industrial settings has fueled the adoption of VPS for superior control and accuracy. VPS technology provides the precision and adaptability required for streamlined industrial operations. The rapid development of autonomous vehicles, including self-driving cars and drones, is driving the integration of VPS technology for precise navigation and obstacle avoidance.

VPS plays a crucial role in enabling autonomous vehicles and drones to navigate complex environments safely and effectively. The proliferation of smart city initiatives has amplified the need for applications such as public safety, traffic management, and autonomous transportation, all of which rely heavily on VPS technology. Smart cities are embracing VPS to enhance efficiency, security, and convenience for their residents. The widespread adoption of smartphones and the growing popularity of indoor navigation and location-based services are further fueling the growth of the VPS market. VPS technology is proving invaluable in providing seamless indoor navigation and location-based services, enhancing the user experience.

The North American region is expected to hold a significant share of the vision positioning system market:

The North American region is poised to maintain a substantial share of the global vision positioning system (VPS) market, driven by a combination of factors. The region has been at the forefront of technological advancements in both indoor and outdoor VPS, establishing itself as a pioneer in this field. This technological leadership has translated into high adoption rates of unmanned aerial vehicles (UAVs), autonomous guided vehicles (AGVs), industrial robots, and space vehicles, all of which rely heavily on VPS for precise positioning and navigation. The rising popularity of autonomous vehicles and self-driving cars has also played a significant role in North America's dominance of the VPS market. As autonomous vehicles become more sophisticated and closer to widespread adoption, the demand for high-performance VPS solutions is expected to surge.

Furthermore, the presence of key VPS technology providers and a strong focus on research and development have further propelled the growth of the VPS market in North America. These companies are continuously investing in innovation and development, leading to the introduction of advanced VPS solutions that meet the evolving needs of various industries. The combination of technological leadership, high adoption rates, and a thriving innovation ecosystem is expected to maintain North America's significant share of the VPS market in the coming years. The region is well-positioned to continue shaping the future of VPS technology and its applications across diverse industries.

Market development:    

• In March 2023, OMRON Corporation, a Japanese electronics company, unveiled the FLOW Core 3.0 software. This comprehensive platform streamlines the management of AMR fleets by orchestrating intelligent task assignments and charging schedules. It also incorporates advanced navigation and traffic control algorithms, ensuring seamless operation in diverse environments. Furthermore, the software facilitates seamless integration with IT and OT systems like MES, ERP, and WMS, enabling a cohesive and data-driven approach to manage AMR operations.

Segmentation:

• By Component
  • Sensor
  • Camera
  • Marker
  • Others
• By Location
  • Indoor
  • Outdoor
• By Platform
  • Unmanned Aerial Vehicle
  • Automated Guided Vehicle
  • Space Vehicle
  • Industrial Robots
  • Others
• By Application
  • Retail
  • Healthcare
  • Defense
  • Industrial
  • Transportation & Logistics
  • Hospitality
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others