The Europe Vision Positioning System Market would witness market growth of 11.8% CAGR during the forecast period (2023-2030).
UAVs, autonomous guided cars, industrial robots, space vehicles, and other automated devices contain vision positioning systems. Using information generated by vision cameras and sensors, the system locates the location of these automated devices. The sensors determine the present position of the unmanned machine or robot. Vision positioning-enabled devices on the market are characterized by constantly evolving technological innovations that improve their effectiveness. The increasing prevalence of vision sensor-equipped devices and the rising demand for indoor navigation across numerous industries predominantly drive technological innovations.
The development and deployment of autonomous vehicles, such as self-driving cars and drones, heavily rely on VPS technology. VPS systems help these vehicles navigate, avoid obstacles, and maintain precise positioning. VPS is used in manufacturing and logistics to enhance the precision and efficiency of industrial robots and automated guided vehicles. These systems can operate more safely and accurately with the assistance of VPS technology. VPS technology is integrated into various consumer electronic devices like smartphones and gaming consoles to enable augmented and virtual reality experiences.
According to the House of Commons Library Report 2019, the hospitality sector contributed £59.3 billion in Gross Value Added (GVA) to the UK economy, around 3.0% of total UK economic output. VPS systems are used in hotels and large hospitality venues to provide guests with indoor navigation and wayfinding services. Visitors can easily use hotel apps to locate their rooms, amenities, and facilities. The growing hospitality sector in the UK has driven the adoption of VPS technology as hotels and resorts seek innovative ways to offer guests superior services and personalized experiences. As the hospitality industry continues to evolve and prioritize guest satisfaction, VPS technology is expected to play a vital role in delivering unique and efficient services. The abovementioned factors will boost the market expansion in this region.
The Germany market dominated the Europe Vision Positioning System Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $706.5 million by 2030. The UK market is exhibiting a CAGR of 10.8% during (2023 - 2030). Additionally, The France market would experience a CAGR of 12.7% during (2023 - 2030).
Based on Location, the market is segmented into Outdoor, and Indoor. Based on Component, the market is segmented into Camera, Sensor, Marker, and Others. Based on Platform, the market is segmented into Geospatial Unmanned Aerial Vehicle, Automated Guided Vehicle, Industrial Robots, Space Vehicle, and Others. Based on Application, the market is segmented into Defense, Industrial, Retail, Transportation & Logistics, Hospitality, Healthcare, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Vision Positioning System Market will Hit $11.2 Billion by 2030, at a CAGR of 12.2%
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).
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