The North America Vision Positioning System Market would witness market growth of 11.4% CAGR during the forecast period (2023-2030).
The market is a component of sensor technology and positioning systems. It integrates digital image processing, computer vision, and other sensor inputs to determine the position and orientation of a device or vehicle within its surroundings. Robotics, autonomous vehicles, drones, and manufacturing automation are among the many industries that employ it extensively. The market has grown consistently due to technological advancements and rising demand for automation and autonomous navigation solutions.
Increasing use of automated guided vehicles (AGVs) for commercial and defense applications, increasing use of unmanned aerial vehicles (UAVs), and rising demand for Artificial Intelligence (AI)-enabled optical sensors are anticipated to contribute to market expansion significantly. The market is characterized by constant technological advancements to meet evolving industrial requirements. Using its Tango 3D sensing computer technology, Google, Inc. announced it is developing a 'visual positioning service' to provide a comprehensive indoor location positioning system. This innovation uses augmented reality technology and real-world data to identify the distinct visual features of an area, which are then used to generate a map of the area.
Retail sales growth in the US and the increasing focus on enhancing the customer experience have driven retailers' adoption of VPS technology. As consumers demand more convenience and personalized shopping experiences, VPS systems will likely continue playing a crucial role in improving retail operations and driving market growth. Due to these aspects, the market will grow significantly across the region in the coming years.
The US market dominated the North America Vision Positioning System Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,829.9 million by 2030. The Canada market is experiencing a CAGR of 13.9% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 13% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Vision Positioning System Market is Predict to reach $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).
By Location
By Component
By Platform
By Application
By Country
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