The global vision positioning system market size is expected to reach USD 9.68 billion by 2025
Vision Positioning System Market Size, Share & Trends Analysis Report By Component (Sensor, Camera, Marker), By Location, By Platform (UAV, AGV, Space Vehicle), By Application, And Segment Forecasts, 2014 - 2025
LONDON, March 27, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5360486
The global vision positioning system market size is expected to reach USD 9.68 billion by 2025, according to a new report by Grand View Research, Inc., registering a 12.0% CAGR during the forecast period. Increased applications in healthcare, defense, and industrial automation sectors are expected to drive the market over the forecast period.
Vision positioning systems are installed in Unmanned Aerial Vehicles (UAVs), Automated Guided Vehicles (AGVs), space vehicles, industrial robots, and other automated devices.The system is used for locating the position of these automated devices using data generated by vision cameras and sensors.
The sensors detect the current position of the unmanned device or robot with the help of ultrasonic sound waves and optical sensors.
The market is characterized by constantly evolving technological innovations to enhance the efficiency of vision positioning-enabled devices. Technological advancements are primarily driven by growing adoption of vision sensor-equipped devices and increasing demand for indoor navigation in various industries.
Growing adoption of UAVs and AGVs in industrial as well as commercial spaces is anticipated to boost the demand for vision positioning systems over the forecast period. Government regulations pertaining to the usage of UAVs are mostly country-specific and are present in many countries including U.S. and U.K. For instance, the German Air Traffic Act defines Unmanned Aerial System (UAS) as vehicles that are not used for recreational purposes, and states that the operation of UASs weighing more than five kilograms will require prior approval from the German Aviation Authority. Furthermore, using a UAS weighing more than 25 kg or operating it beyond the visual line of sight of the operator is usually prohibited.
Growing adoption of automated devices in developed countries and increasing relevance of cost-effective manufacturing in developing countries is expected to maintain the buoyancy and growth of the market.
Further key findings from the report suggest:
• Vision positioning cameras are expected to account for the largest revenue share by 2025, registering a CAGR of more than 12.5% over the forecast period
• Healthcare is expected to emerge as the most lucrative application sector for vision positioning systems on account of growing demand for analytics and navigation
• By 2025, the defense segment is projected to account for just over 38% of the total vision positioning system market revenue, which is attributed to growing demand for UAVs in the sector
• In 2016, UAVs and AGVs together accounted for just over 60% of the total revenue in the Asia Pacific region
• Key players in the industry include DJI Innovations, ABB Limited, Sick AG, and Cognex Corporation.
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