The Navigation, Imaging, and Positioning Solutions Market has witnessed a significant surge in importance due to the growing demand for automation in various applications. While the Global Positioning System (GPS) has revolutionized outdoor positioning, there is now a pressing need for coherent positioning capabilities across all environments. As a result, the market for navigation, imaging, and positioning solutions has experienced remarkable growth, catering to industries and sectors that require precise and reliable object and people navigation.
By 2022, it is anticipated that the global market for navigation, imaging, and positioning solutions will reach US$ 7 billion. By 2032, the market value will be close to US$ 24 billion thanks to adoption of these solutions in homes, hospitals, and warehouse management, which will drive sales at a startling 27% CAGR.
The ability to navigate objects and people has grown in significance for an increasing number of applications in the age of automation. The Global Positioning System (GPS) has made outdoor positioning exceptional, but many applications demand coherent positioning capabilities across all environments. Since then, research and development have increasingly focused on indoor positioning.
The number of relevant requirement parameters is large like accuracy, integrity, coverage, latency, update rate, availability, costs, robustness, infrastructure, privacy. Along with the diverse number of technologies available, making it further complex to match a suitable technology with an application.
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The navigation, imaging and positioning solutions has number of applications ranging from location based services in indoor environments, detection of lost items at home, ambient assistant living systems, in hospitals for location tracking of patient, medical equipment and personnel in emergency situations, in social networking to govern social integration, environmental monitoring to observe phenomena such as heat, humidity, pressure, air pollution and deformation of structures. WSN (Wireless Sensor Network) is set-up to monitor these parameters in indoor as well as outdoor space via organization of multiple sensor nodes.
It has significant benefits in rescue and fire services, law enforcement such as instantaneous detection of theft, crime scene recovery, geofenceing. Mass application is in intelligent transportation to provide seamless navigation for vehicles through extension of road guidance inside parking garages. In industry it plays a critical role in the automatic manufacturing, for the development of intelligent systems.
These systems act as an essential functional element in the smart factories for improvement of safety systems, intelligent worker protection and collision avoidance. In Logistics and Optimization, it is quite essential to have information about the location of assets and staff members. In Western economies, one tenth of the GDP contribution comes from navigation systems. In the coming decade the navigation, imaging and positioning solutions market will see a massive boost with the introduction of advanced technologies and satellites.
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Navigation, Imaging and Positioning Solutions Market: Drivers & Restraints
Rising infrastructure investments necessitates the requirement of positioning for cargo management systems for rail traffic, airports and ports. Large construction sites require positioning systems to support the information management system. Aforementioned are some of the key factors driving the growth of the navigation, imaging and positioning solutions market.
Changes in the allocation of radio frequency bands, cost of sensors, safety, development time and customization associated with the navigation, imaging and positioning solutions, dependency on external suppliers for components are probable factors restraining the growth of the navigation, imaging and positioning solutions market.
Navigation, Imaging and Positioning Solutions Market: Overview
With rapid technological advancements and increasing risks on security; the acceptance of navigation, imaging and positioning solutions is gaining popularity. The global navigation, imaging and positioning solutions market is expected to expand at a promising CAGR during the forecast period (2015-2025).
Navigation, Imaging and Positioning Solutions Market: Region-wise Outlook
The global navigation, imaging and positioning solutions market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, global navigation, imaging and positioning solutions market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, North America dominated the global navigation, imaging and positioning solutions market in terms of market revenue followed by Europe and Russia. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the global navigation, imaging and positioning solutions market value exhibiting a robust CAGR during the forecast period, 2015?2025.
Navigation, Imaging and Positioning Solutions Market: Key Players
Some of the key market participants in global navigation, imaging and positioning solutions market are Topcon Positioning Systems Inc, iXBlue, Trimble Navigation Limited, Sonardyne, Leica Geosystems, Kongsberg Maritime, NovAtel Inc, BlackRoc Technology.
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Navigation, Imaging and Positioning Solutions Market: Segmentation
The global navigation, imaging and positioning solutions market is broadly classified on the basis of applications, physical principle used in the operation and geographies.
Based on application, the global navigation, imaging and positioning Solutions market is segmented into:
- Defense
- Maritime
- Land & Survey
- Photonics
- Space
Based on physical principle used in the operation, the global navigation, imaging and positioning solutions market is segmented into:
- Inertial Navigation
- Mechanical Waves
- Electromagnetic Waves
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