The positioning systems global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Positioning Systems Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The positioning systems market size has grown rapidly in recent years. It will grow from $80.29 billion in 2023 to $93.34 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. 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, and the 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 $171.16 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. 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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Scope Of Positioning Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Positioning Systems Market Overview
Market Drivers –
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.
Market Trends –
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.
The positioning systems market covered in this report is segmented –
- By Component: Hardware, Software, Services
- By Technology: Satellite-Based, Non-Satellite Based
- By Application: Navigation, Surveying And Mapping, Fleet Management, Geotagging, Other Applications
- By End-User: Transportation And Logistics, Defense And Military, Healthcare, Aerospace, Agriculture, Consumer Electronics, Other End-Users
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
Executive Summary
Positioning Systems Market Report Structure
Positioning Systems Market Trends And Strategies
Positioning Systems Market – Macro Economic Scenario
Positioning Systems Market Size And Growth
…..
Positioning Systems Market Competitor Landscape And Company Profiles
Key Mergers And Acquisitions
Future Outlook and Potential Analysis
Appendix
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