PUBLISHER: Grand View Research | PRODUCT CODE: 1611758
PUBLISHER: Grand View Research | PRODUCT CODE: 1611758
The global vision positioning system market size is estimated to reach USD 12.60 billion by 2030, registering to grow at a CAGR of 12.2% from 2025 to 2030 according to a new report by Grand View Research, Inc. Vision Positioning System (VPS) technology has emerged as a prominent innovation in recent years due to the rapid advancement of technology. The main factors propelling the market's expansion are ongoing advancements in VPS technology, which improve real-time decision-making and flexibility through the use of AI, machine learning, and deep learning approaches.
The rising adoption of autonomous vehicles, drones, and smart city initiatives is fueling the need for precise navigation and obstacle avoidance systems. In the realm of smart city initiatives, vision positioning systems contribute to optimizing urban planning and management. By integrating visual data from cameras mounted on vehicles or infrastructure, these systems can generate detailed maps, monitor traffic flow, and enhance the efficiency of public services. Vision-based navigation and obstacle avoidance support the development of smart transportation systems, emergency response strategies, and sustainable urban development.
Growing awareness among consumers about the advantages of VPS technology for improved indoor navigation and location-based services is driving the market expansion. The demand for location-based services in indoor environments is increasing, driven by the need for personalized customer experiences, optimized workflows, and enhanced operational efficiency. Companies are increasingly looking to provide personalized experiences to their customers. For instance, companies like Cisco Systems, Inc. offer indoor location services that enable more accurate and seamless indoor location services. These services can help mall visitors navigate complex layouts, optimize resource allocation, and enable proactive decision-making.
The adoption of VPS is being facilitated by regulatory frameworks that encourage the implementation of advanced positioning technologies for improved navigation and location-based services across different sectors.Initiatives like the Indoor Mapping and Navigation Pilot, sponsored by organizations such as the National Institute of Standards and Technology (NIST), focus on developing standards and workflows for pre-planning operations using LiDAR technologies and imagery to create detailed indoor maps and point cloud datasets. This, in turn, is expected to fuel the market growth in the coming years.