Positioning Systems Market Competitive Landscape 2024-2033 – Major Players and Strategies

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.

Sizing and Forecast
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, 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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Segmentation & Regional Insights
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

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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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

The positioning systems market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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