A Vision Positioning System is the method of positioning of a system that uses optical sensors, ultrasonic and image data to help the various instruments to identify its current position. The advantage of optical sensors is the ability to provide the distance information needed for collision avoidance. The growth of the vision positioning system market is driven by the increasing use of vision positioning systems in industrial automation and indoor navigation to handle various kinds of operations. Being a new technology the Vision Positioning System market is also driven by the continuous evolution of CMIOS image sensor.
The study indicates that the Vision Positioning System Market is method that provide the volume of information about the localization using vision information, extraction of visual features for positioning straightforward and representing the environment. However, it processes information from every sensor and completes complex calculations in real time. Camera system have become a predominant component of the Vision Positioning System. The Vision Positioning system industry is expected to grow during the forecast period due to rise in demand for automation in industrial applications. However, intensive training and education, an essential requirement to enable entry of machine vision in newer markets, restrain the vision positioning system market growth. Moreover, demand for miniaturization of machine vision system provides lucrative opportunities for the players operating in machine vision system industry.
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The Global Vision Positioning System Market is expected to grow at USD ~$13.32 Billion by 2023, at ~10.87% of CAGR between 2017 and 2023.
The prominent players in the Vision Positioning System Market are – DJI (China), Omron Corporation (Japan), Cognex Corporation (U.S.), Sick AG (Germany), ABB (Switzerland), Parrot SA (France), Pepperl+Fuchs GmbH (Europe), Senion AB (Europe), Seegrid Corporation (U.S) among others
Global Vision Positioning System Market - Competitive Landscape
The Vision Positioning System market is fiercely competitive owing to the various dynamic and diversified international players existing in the market forming a competitive landscape. Constantly innovating market leaders seek market expansion through various strategic M&A activities and increasing investments in R&D activities strive to develop the portfolio for cost-effective solutions.
Vendors are improving their market performance and acquiring promising companies to expand in the rapidly growing markets. In view of immense revenue generation opportunities of the market new entrants are increasingly getting attracted only to find it further challenging to survive with the new technologies.
Vision Positioning System Market Segmentation
The Vision Positioning System Market has been segmented on the basis of t component, solution, location, platform, type, end-user and region. Looking through the end-user segment it has been observed that defense industry has shown a tremendous usage of Vision Positioning System market and holds the largest market share. The study indicates that the other sectors like government and defense sector is using optical sensors system and showing second largest position in this market.
Market Research Analysis:
On geographic basis, Vision Positioning System market is studied in different regions as North Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading in the Vision Positioning System market and is expected to grow with a high rate as well as hold the largest market share in the Vision Positioning System market, there has been a major focus into the commercials based low cost applications. Vision Positioning System market has the largest market size in the government and defense sector as well due to safety and security purposes. The study shows that Europe region is also showing a positive curve in growth graph in the Vision Positioning System market. The technological advancements in Vision Positioning system is widely used in aircraft and flight. The developing economies in Asia-pacific regions like China, Japan, India and others are showing high adoption in the Vision Positioning System market.
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