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Vision Positioning System Market Revenue Will Hit 9.25 Billion USD by 2022

The global vision positioning system market is estimated to be valued at USD 5.58 billion in 2017 and is projected to reach USD 9.25 billion by 2022, at a CAGR of 10.65% from 2017 to 2022. With the advent of the GPS (Global Positioning System) technology, the application of positioning systems has increased significantly. Positioning systems are extensively used for outdoor navigation in various sectors, such as defense, tourism, and logistics & transportation, among others.

However, for navigation in indoor locations, the GPS-based positioning systems lack accuracy and signal strength. Besides, GPS signals are also restricted over various high sensitive areas, such as military bases, research labs, and underground locations. Hence, vision positioning systems are extensively used for local navigation in these areas.

The camera systems segment is expected to lead in the vision positioning system market.

Camera systems are used to capture real-time images to the processors which store the images in memory. In camera systems various sensors are used, such as pressure, heat, proximity, and accelerometers, among others that provide information about the environment. Other components such as processors and communication devices control operations and provide operational data to operators.

The commercial sector is projected to witness high growth during the forecast period.

The commercial application segment is estimated to account for the largest share of the vision positioning system market in 2017 due to the high usage of vision positioning systems in the automotive industry and increasing automation in various other industries in almost all countries across the world. This segment is also projected to grow at the highest CAGR from 2017 to 2022.

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Regional Outlook

Asia Pacific is the fastest-growing market for vision positioning systems during the forecast period.

The growth of the Asia Pacific vision positioning system market can be attributed to the increased demand for industrial automation in Asian countries such as China, Japan, and India. The Asia-Pacific market growth can be attributed to the increasing use of drones for military surveillance and the increase in industrial automation.

Leading Companies Outlook

Key players offering vision positioning systems include ABB (Switzerland), DJI (China), Sick AG (Germany), FANUC Corporation (Japan), and Locata Corporation (Australia), among others.

DJI (China) is a world leader in vision positioning systems. Founded in 2006 and headquartered in Shenzhen, China, DJI is a privately held company specializing in research, design, and development of drones and imaging solutions. The company manufactures vision positioning system-based drones. These drones are used in agriculture and building & infrastructure sectors, and for public safety purposes, among others. The company has its presence in the North American, European, and Asia-Pacific regions. It has good distribution channels and viability. It has a strong presence across North America and Europe, besides catering to the Asia-Pacific and the Middle East regions. DJI also has a good breadth of offerings and various patents for drone-based vision positioning systems, which have helped it become a leader in the industry. As of 2016, the company has a headcount of above 6,000 employees. It also formed various joint ventures and partnerships to cater to the various Asia-Pacific and European markets. However, the company has a limited industry coverage. Key competitors of the company include Parrot (France), ABB (Switzerland), and FANUC (Japan), among others.

PARROT SA was founded in 1994 and is headquartered in Paris (France). Parrot SA develops technologically advanced drones and other electronic products. The company provides products under six categories, namely, drones, mini-drones, audio, connected garden, car kits, and business solutions. The company manufactures vision positioning system-based drones which are used in various sectors, such as agriculture, education, building & infrastructure, and for surveillance and monitoring. The company offers drones based on vision positioning systems. The company has a good breadth of offerings but requires improvement on its distribution strategy. It has presence in the North American, European, and Asia-Pacific regions. Parrot is a private limited company with a headcount of 481 employees in December 2015. Its key competitors include DJI (China), ABB (Switzerland), and FANUC (Japan), among others.

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