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Vision Positioning System Market Trends

Report ID: GMI7389
Published Date: Nov 2023
Report Format: PDF

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Vision Positioning System Market Trends

The ongoing innovations in vision positioning systems for improving accuracy, reliability, and adaptability to different use cases will also outline the industry outlook. Of late, there have been rising advances in VPS development via deep learning techniques, machine learning and AI to enhance real-time decision-making, object recognition, and adaptability to different environments and scenarios.

The growing popularity of simultaneous localization and mapping (SLAM) in autonomous vehicles and robotics will also add to the market size. For instance, in April 2023, ABB Robotics introduced visual simultaneous localization and mapping (Visual SLAM) technology for enabling autonomous mobile robots (AMRs) to make intelligent navigation decisions on the basis of their surroundings.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of vision positioning system reached USD 5.7 billion in 2022 and is set to witness over 11% CAGR from 2023 to 2032, due to the rising development of autonomous vehicles, including self-driving cars and drones.

The outdoor location segment is expected to account for over 60% of the market share in 2022, owing to the increased need for more reliable, accurate, and safe navigation to address challenges.

North America held 34% of the market share in 2022, driven by the rising popularity of autonomous vehicles and self-driving cars in the region.

Some of the leading vision positioning system companies are ABB Ltd., Cognex Corporation, DJI Technology Co., Ltd,Fanuc Corporation, Omron Corporation, Qualcomm Technologies, Inc., Seegrid, Sick AG, Sony Corporation, and Verizon Communications.