At what pace is the positioning systems market growing, and what is its estimated value?
The positioning systems market size has grown rapidly in recent years. It will grow from $93.34 billion in 2024 to $108.78 billion in 2025 at a compound annual growth rate (CAGR) of 16.5%. The growth in the historic period can be attributed to rapid urbanization, the development of smart cities, the proliferation of GPS-enabled vehicles, the surge in the use of social media, rise in the adoption of e-hailing services.
The positioning systems market size is expected to see rapid growth in the next few years. It will grow to $198.82 billion in 2029 at a compound annual growth rate (CAGR) of 16.3%. The growth in the forecast period can be attributed to growing demand for location-based services (LBS), increasing adoption of autonomous vehicles, rising need for positioning systems in precision agriculture, integration of 5g networks, and increasing penetration of smartphones. Major trends in the forecast period include the use of Internet of Things (IoT) devices, advancements in positioning technology, emphasis on driver-assistance technologies and connected cars, extensive infrastructure development, and integration of GPS technology.
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What are the key forces behind the positioning systems market’s growth in recent years?
The increasing number of autonomous vehicles is expected to propel the growth of the positioning systems market going forward. Autonomous vehicles are self-driving cars that employ advanced sensor technologies, computer systems, and artificial intelligence to operate and navigate without constant human intervention or monitoring. The number of autonomous vehicles is increasing due to advancements in artificial intelligence and sensor technology, along with substantial investment and support from private companies and governments to enhance safety and efficiency in transportation. Positioning systems are a crucial supporting technology that offers the accuracy, integrity, and shared reference frame required for safe, dependable self-driving capabilities as autonomous vehicles become more popular. For instance, in December 2022, according to the National Association of Insurance Commissioners, a US-based non-profit organization, there are expected to be 3.5 million autonomous vehicles on American roads by 2025 and 4.5 million by 2030. Therefore, the increasing number of autonomous vehicles drives the positioning systems market.
What are the major segments of the positioning systems market?
The positioning systems market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Satellite-Based, Non-Satellite Based
3) By Application: Navigation, Surveying And Mapping, Fleet Management, Geotagging, Other Applications
4) By End-User: Transportation And Logistics, Defense And Military, Healthcare, Aerospace, Agriculture, Consumer Electronics, Other End-Users
Subsegments:
1) By Hardware: GPS Receivers, Antennas, Sensors (Accelerometers, Gyroscopes), Processors, RF Modules, Other Hardware Components
2) By Software: Navigation Software, Mapping And Visualization Software, Positioning Software (GNSS, RTK, And Others), Data Processing Software, Application Software (Location-Based Services, Fleet Management)
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Cloud-Based Positioning Services, Training Services, Data Services (Satellite Data, Location-Based Analytics)
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Which companies dominate the positioning systems market?
Major companies operating in the positioning systems market are General Electric Company, A.B Volvo, Qualcomm Inc., Broadcom Inc., ABB Ltd., L3 Harris Technologies Inc., Rolls Royce PLC., Wartsila, Hexagon AB, Trimble Navigation Ltd., Kongsberg Gruppen ASA, MiTAC Digital Technology Corporation, Royal IHC Ltd., Norr Systems Pte Ltd., RH Marine, Twin Disc inc., Moxa Inc., Alphatron Marine BV, Sonardyne International Ltd., Reygar Ltd., Thrustmaster of Texas Inc., Marine Technologies LLC, Navis Engineering, Raytheon Anschutz, Praxis Automation Technology BV
What major trends will shape the positioning systems market during the forecast period?
Major companies operating in the positioning systems market are focusing on advancements in positioning technology, such as visual positioning systems, to gain a competitive edge in the market. Visual positioning systems (VPS) are technologies that enable accurate localization and navigation of objects or devices in the physical world by utilizing visual information from cameras or sensors. For instance, in February 2023, Immersal Oy, a Finland-based augmented reality company, launched the Immersal City-Scale Visual Positioning System. This innovative solution utilizes computer vision and machine learning to provide highly accurate and reliable indoor and outdoor positioning, enabling seamless augmented reality experiences. The Immersal system features advanced features such as automatic 3D mapping, real-time localization, and support for multiple devices, making it a valuable tool for a wide range of applications, including smart city initiatives, facility management, and retail experiences.
What are the key regional dynamics of the positioning systems market, and which region leads in market share?
North America was the largest region in the positioning systems market in 2023. The regions covered in the positioning systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Positioning Systems Market Report 2025 Offer?
The positioning systems market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Positioning systems are technologies that determine the location of an object or individual by utilizing satellites, radio waves, or other methods to provide precise geographic coordinates. They employ various methods, such as radio signals or optical sensors, to provide accurate positional data. These systems are crucial in navigation, tracking, and mapping applications across multiple industries.
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