The Global Vision Positioning System Market size is expected to reach $11.2 billion by 2030, rising at a market growth of 12.2% CAGR during the forecast period.
The healthcare industry is increasingly adopting VPS technology to improve patient care, operational efficiency, and patient safety. Therefore, the healthcare segment would register approximately a 10% share in the market by 2030. VPS technology is used for precise surgical navigation, particularly in minimally invasive surgeries. It provides real-time 3D visualization and helps surgeons accurately locate and navigate within the patient's body. This improves surgical outcomes and reduces the risk of complications. Healthcare facilities can use VPS to track the location of critical medical equipment, such as infusion pumps, ventilators, and defibrillators. This ensures that equipment is readily available when needed, reducing response times.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In September, 2023, Cognex Corporation introduced the In-Sight SnAPP vision sensor, redefining standards for ease of use, accuracy, and functionality in an industrial sensor. The launched product would solve an array of common quality control challenges, consisting of presence or absence inspections, assembly verification, and defect detection. Additionally, In May, 2023, SZ DJI Technology Co., Ltd. released DJI Matrice 350 RTK, an upgraded flagship drone platform. The launched product would be more adaptable, secure, and efficient for any aerial operation in public safety, mapping, energy, infrastructure, or forestry.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB LTD., Sick AG, Cognex Corporation, Omron Corporation, FANUC Corporation, MDA Ltd. (Northern Private Capital Inc.), SZ DJI Technology Co., Ltd. (iFlight Technology Company Limited), Parrot Drone SAS, Seegrid Corporation, and Verizon Communications, Inc. (Senion AB)
The healthcare industry is increasingly adopting VPS technology to improve patient care, operational efficiency, and patient safety. Therefore, the healthcare segment would register approximately a 10% share in the market by 2030. VPS technology is used for precise surgical navigation, particularly in minimally invasive surgeries. It provides real-time 3D visualization and helps surgeons accurately locate and navigate within the patient's body. This improves surgical outcomes and reduces the risk of complications. Healthcare facilities can use VPS to track the location of critical medical equipment, such as infusion pumps, ventilators, and defibrillators. This ensures that equipment is readily available when needed, reducing response times.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In September, 2023, Cognex Corporation introduced the In-Sight SnAPP vision sensor, redefining standards for ease of use, accuracy, and functionality in an industrial sensor. The launched product would solve an array of common quality control challenges, consisting of presence or absence inspections, assembly verification, and defect detection. Additionally, In May, 2023, SZ DJI Technology Co., Ltd. released DJI Matrice 350 RTK, an upgraded flagship drone platform. The launched product would be more adaptable, secure, and efficient for any aerial operation in public safety, mapping, energy, infrastructure, or forestry.
Cardinal Matrix
Market Competition Analysis
Based on the Analysis presented in the Cardinal Matrix; Verizon Communications, Inc. (Senion AB) is the major forerunner in the Market. Companies such as ABB Ltd., OMRON Corporation and FANUC Corporation are some of the key innovators in the Market. In October, 2022, OMRON Corporation unveiled FH-SMD Series 3D Vision Sensor for Robot Arms. The launched product would mount on a robot to recognize randomly placed parts in three dimensions, allowing space-saving assembly, inspection, and pick & place that would be difficult with conventional robots, whilst enhancing productivity.
Market Growth Factors
Growing demand for autonomous vehicles and drones
Autonomous vehicles, including self-driving cars and drones, require precise navigation and obstacle detection to operate safely. VPS technology provides real-time information about the vehicle's location and surroundings, improving navigation accuracy and safety. This is especially important in scenarios where human intervention may be limited. VPS systems use sensors, cameras, and other technologies to detect and avoid hindrances in the vehicle's path. This is vital for ensuring the safety of passengers, other road users, and property. VPS technology is crucial for ensuring safe and efficient mobility in urban environments. Governments and regulatory bodies are creating frameworks to support the testing and deploying autonomous vehicles and drones. These regulations often include safety standards that require VPS technology to ensure safe operations. As autonomous vehicles and drones become more integrated into everyday life and various industries, the demand for VPS technology will continue to rise, leading to further innovation and market expansion.Rapid integration of VPS in smart cities
Smart cities are focused on improving transportation and reducing traffic congestion. VPS technology is integral to the operation of autonomous vehicles, electric scooters, and shared mobility services, which play a crucial role in achieving these goals. VPS enhances public transportation services, making them more efficient and user-friendly. It provides real-time location and arrival information for buses, trams, and subways, improving the overall transportation experience for residents. Many governments and municipalities are establishing regulations and standards to support developing and deploying smart city technologies, including VPS systems. The growth of smart cities is driven by the need for more sustainable and efficient urban living. VPS technology contributes to these goals by providing accurate and real-time location data, enhancing safety, and supporting the development of innovative services and applications. As smart cities expand and evolve, the demand for VPS technology will increase, further driving market growth and innovation.Market Restraining Factors
High cost of integrating VPS technology
Implementing VPS technology often requires a significant upfront investment in hardware, software, and infrastructure. The cost of advanced sensors, cameras, processing units, and data storage can be substantial, which can deter some potential adopters. Integrating VPS technology into existing systems, whether in manufacturing, transportation, or other industries, can be complex and costly. Customizing VPS solutions to work seamlessly with different technologies and processes may require additional resources. VPS systems generate vast data, particularly in applications like autonomous vehicles and drones. Implementing VPS technology often requires developing supporting infrastructure, such as installing sensors, cameras, and communication networks. These infrastructure costs can add to the overall implementation expenses. These factors will hinder market’s growth in the coming years.Component Outlook
On the basis of component, the market is segmented into sensor, camera, marker, and others. In 2022, the camera segment dominated the market with the maximum revenue share. Cameras are an integral component of positioning systems because they capture images of an area or monitor the position of an automated device to provide input data for the system. Omron Corporation, Sick AG, and Menzel Vision and Robotics are significant positioning camera manufacturers. These businesses offer 2D vision and intelligent cameras with integrated optical sensors.
Platform Outlook
By platform, the market is categorised into unmanned aerial vehicle, automated guided vehicle, space vehicle, industrial robots, and others. The automated guided vehicle segment recorded a remarkable revenue share in the market in 2022. An Automated Guided Vehicle (AGV) is a mobile robot or vehicle designed for material handling and transportation tasks in various industrial settings. AGVs have navigation and control systems to autonomously move items, products, or materials within a facility. They are commonly used in manufacturing, warehousing, distribution, and other industries to streamline and automate the movement of goods.Location Outlook
Based on location, the market is fragmented into indoor and outdoor. In 2022, the indoor segment garnered a significant revenue share in the market. Indoor location services are valuable in retail environments, helping customers navigate large shopping malls and stores. Retailers can also use this technology for proximity marketing, personalized offers, and optimizing store layouts. VPS-based indoor location technology is crucial in warehouses and logistics for tracking the movement of goods, optimizing inventory management, and guiding robots and automated guided vehicles (AGVs).Regional Outlook
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region witnessed the largest revenue share in the market. Many North American e-commerce behemoths, including Amazon and UPS, are investigating drone delivery services. VPS is required for these drones to deliver packages to clients' doors, navigate complex urban areas, and avoid obstacles. Manufacturing and logistics businesses in North America rely significantly on industrial robots and automated guided vehicles (AGVs). Furthermore, VPS technology improves these robots' navigation and safety, enhancing efficiency in factories and warehouses. Several North American communities are implementing smart city programs that use VPS technology.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB LTD., Sick AG, Cognex Corporation, Omron Corporation, FANUC Corporation, MDA Ltd. (Northern Private Capital Inc.), SZ DJI Technology Co., Ltd. (iFlight Technology Company Limited), Parrot Drone SAS, Seegrid Corporation, and Verizon Communications, Inc. (Senion AB)
Strategies deployed in the Market
Partnerships, Collaborations, and Agreements:
- Oct-2022: Seegrid Corporation collaborated with Koops Automation Systems, a leading systems integrator specializing in industrial automation for manufacturing environments. This collaboration would allow Koops to bolster their offerings by introducing their customers to the full portfolio of Seegrid Palion autonomous mobile robots and Fleet Central enterprise software solutions.
- Jun-2021: Fanuc joined hands with Vention, the cloud-based manufacturing automation platform. This collaboration aimed to allow prospective system integrators, end-users, and training centers to develop and order complete, end-to-end robot cells directly from the Vention cloud platform.
- Aug-2020: Parrot came into partnership with Dronisos, a France-based provider of drone light shows. The partnership involves exploring opportunities in drone flight automation.
- Aug-2020: SZ DJI Technology Co., Ltd. came into partnership with Shell, a multinational company that provides energy solutions to multiple industries. Through this partnership, DJI would gain valuable firsthand experience in deploying drone technology in a top-tier refinery, and together, both companies would develop innovative product features like AI Spot-Check, enabling Shell and other forward-thinking energy firms to perform essential inspections of vital infrastructure safely and efficiently.
- May-2020: Parrot Drones SAS entered into a partnership with DroneSense, a drone software solutions provider, to develop innovative solutions for ANAFI aircraft. The partnership would allow the two companies to deliver an integrated and seamless customer experience.
Product Launches and Product Expansions:
- Sep-2023: Cognex Corporation introduced the In-Sight SnAPP vision sensor, redefining standards for ease of use, accuracy, and functionality in an industrial sensor. The launched product would solve an array of common quality control challenges, consisting of presence or absence inspections, assembly verification, and defect detection.
- May-2023: Cognex Corporation unveiled Advantage 182 vision system, an all-in-one vision system. The launched product would designed to automate complex location, classification, and inspection tasks.
- May-2023: SZ DJI Technology Co., Ltd. released DJI Matrice 350 RTK, an upgraded flagship drone platform. The launched product would be more adaptable, secure, and efficient for any aerial operation in public safety, mapping, energy, infrastructure, or forestry.
- Apr-2023: ABB Ltd. released Visual Simultaneous Localization and Mapping technology, a transformed Autonomous Mobile Robots. The launched product would allow AMRs to make intelligent navigation decisions based on their surroundings.
- Apr-2023: Cognex Corporation released Sight 3800, designed for various inspection applications. The launched product would be equipped with a broad range of vision toolsets consisting of AI-based advanced learning technologies and traditional rule-based algorithms.
- Mar-2023: OMRON unveiled the OMRON TM20 cobot, a payload of 20kg developed for tasks including material handling, palletizing, and machine tending. The product's feature includes a weighing, lightweight design at just 33kg. With these features the product is easy to combine with mobile robots, delivering high efficiency and flexibility in the industrial environment.
- Jan-2023: SICK Sensor Intelligence, a subsidiary of Sick AG launched safeVisionary2, a 3D Time-of-Flight camera with safety certification performance level c in accordance with EN13849. The launched product would allow three-dimensional environment perception as well as productivity-improving safety concepts, such as the automation of mobile robots and human-robot collaboration.
- Nov-2022: SZ DJI Technology Co., Ltd. unveiled the Mavic 3 Classic, an enhancement to its Mavic 3 Series. This launch aimed to offer a broader audience of creators with the exceptional photography abilities and operational reliability that define the Mavic 3 Series.
- Oct-2022: OMRON Corporation unveiled FH-SMD Series 3D Vision Sensor for Robot Arms. The launched product would mount on a robot to recognize randomly placed parts in three dimensions, allowing space-saving assembly, inspection, and pick & place that would be difficult with conventional robots, whilst enhancing productivity.
- Aug-2022: DJI released DJI Avata, a transformational new drone that offers an unparalleled experience of immersive flight. DJI Avata creates a new paradigm for first-person view drone flight, enabling every pilot to race through the skies & feel its astonishing performance, agility, and easy control.
- Sep-2021: ABB launched GoFa CRB 15000, a collaborative robot. The GoFa CRB 15000 features, a 950mm reach and speed of up to 2.2 meters per second, and can perform multiple tasks including pick, pack-and-place, product handling, and kitting. Moreover, the new cobot caters to the evolving demand for heavy payload robots.
- Jun-2021: Seegrid Corporation introduced the Seegrid PalionTM Tow Tractor Series 8. The launched product would improve Smart Path technology, increasing the robotic fleet’s ability to comprehend and make decisions while safely and reliably moving material in dynamic, and high-traffic facilities.
- Jul-2020: FANUC Corporation announced the launch of a 3DV/600 vision sensor, a new sensor that benefits from an extended field of vision in comparison to other models in the range. The launched product would be created for use in multiple applications, consisting of bin picking, feeding an assembly line, or stacking pallets.
- Mar-2020: Seegrid Corporation introduced GT10 Series 7 Plus, the first vision-guided vehicle. The launched product would be characterized by auto-charge integration and enhanced sensing technology, and further automated material movement for manufacturing, distribution, and e-commerce companies.
Acquisition and Mergers:
- Aug-2023: MDA Ltd. signed an agreement to acquire SatixFy Space Systems UK Ltd., the digital payload division of SatixFy Communications Ltd. Through this acquisition, MDA's leadership position in the growing market for digital satellite communications solutions would be empowered.
- Aug-2023: Cognex Corporation acquired Moritex Corporation from Trustar Capital, a private equity affiliate of CITIC Capital Holdings Limited. Under this acquisition, both companies aimed to offer the best optical solutions for their customers.
- Dec-2022: Cognex Corporation took over SAC Sirius Advanced Cybernetics GmbH, a German leader in lighting technology. This acquisition aimed to widen Cognex’s footprint across industries that manufacture at fast speed with minimal tolerance for safety-critical failures, such as consumer and automotive electronics.
- Aug-2021: ABB acquired ASTI Mobile Robotics Group (ASTI), a leading global autonomous mobile robot (AMR) manufacturer. Under this acquisition, ABB would be the only company to deliver a full automation product line of robots, AMRs, and machine automation solutions, from production to logistics to point of consumption.
- Oct-2020: Seegrid Corporation took over Box Robotics, a mobile robotics startup. This acquisition aimed to support and accelerate next-generation perception and more human-like, situational awareness technology to Seegrid’s vision-guided vehicles, making manufacturing, and e-commerce fulfillment facilities even more productive as the demand for automation grew during the COVID-19 pandemic.
Scope of the Study
Market Segments Covered in the Report:
By Location- Outdoor
- Indoor
- Camera
- Sensor
- Marker
- Others
- Unmanned Aerial Vehicle
- Automated Guided Vehicle
- Industrial Robots
- Space Vehicle
- Others
- Defense
- Industrial
- Retail
- Transportation & Logistics
- Hospitality
- Healthcare
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- ABB LTD.
- Sick AG
- Cognex Corporation
- Omron Corporation
- FANUC Corporation
- MDA Ltd. (Northern Private Capital Inc.)
- SZ DJI Technology Co., Ltd. (iFlight Technology Company Limited)
- Parrot Drone SAS
- Seegrid Corporation
- Verizon Communications, Inc. (Senion AB)
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Vision Positioning System Market by Location
Chapter 6. Global Vision Positioning System Market by Component
Chapter 7. Global Vision Positioning System Market by Platform
Chapter 8. Global Vision Positioning System Market by Application
Chapter 9. Global Vision Positioning System Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- ABB LTD.
- Sick AG
- Cognex Corporation
- Omron Corporation
- FANUC Corporation
- MDA Ltd. (Northern Private Capital Inc.)
- SZ DJI Technology Co., Ltd. (iFlight Technology Company Limited)
- Parrot Drone SAS
- Seegrid Corporation
- Verizon Communications, Inc. (Senion AB)
Methodology
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