Vision Positioning System Market Analysis

Vision Positioning System Market Analysis

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Based on location, the outdoor positioning system segment held over 60% of the market share in 2022, owing to the increased need for more reliable, accurate, and safe navigation to address challenges while enhancing productivity across various industries and applications. The influx of urban air mobility concepts, including air taxis and personal air vehicles is also contributing to the demand for outdoor vision positioning systems to ensure safety and efficiency in urban airspace. Growing adoption for environmental monitoring, mapping & surveying as well as inspection of outdoor infrastructure, such as power lines, bridges, roads, and pipelines will influence the market growth.

Based on end-use industry, the defense segment recorded more than 36% of the vision positioning system market share in 2022, attributed to the escalating adoption of VPS by military personnel to garner real-time and high-resolution visual data for clearer and comprehensive understanding of surroundings for making informed decisions and respond to threats.
 

For instance, in July 2023, the U.S. Army announced the successful trial of novel visual navigation technology for assisting military pilots to navigate in GPS (global positioning system)-denied environments. Rising deployment in search and rescue missions as well as the continuous surveillance of national borders to limit illegal border crossings, and smuggling will also contribute to the segment expansion.
 

North America vision positioning system market accounted for 34% of the revenue share in 2022, driven by the rising popularity of autonomous vehicles and self-driving cars. The Insurance Institute for Highway Safety has reported that there would be 4.5 million self-driving vehicles on U.S. roads by 2030. The surging trend of precision agriculture in the region is spurring the adoption of various vision positioning systems to optimize farming operations while providing accurate data for crop monitoring, and yield prediction. The growing rate of industrialization and the increasing deployment of robot guidance, object recognition, quality control, and material handling mainly in the manufacturing and logistics sectors will favor the regional product demand.