Positioning Systems Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company’s Positioning Systems Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 24, 2024 /EINPresswire.com/ -- The positioning systems market has experienced robust growth in recent years, expanding 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.

Strong Future Growth Anticipated
The positioning systems market is projected to continue its strong growth, reaching $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.

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Growth Driver Of The Positioning Systems Market
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.

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Major Players And Market Trends
Key players in the positioning systems market include General Electric Company, A.B Volvo, Qualcomm Inc., Broadcom Inc., ABB Ltd., L3 Harris Technologies Inc., Rolls Royce PLC.

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.

Segments:
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

Geographical Insights: North America Leading The Market
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.

Positioning Systems Market Definition
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.

Positioning Systems Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Positioning Systems Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on positioning systems market size, positioning systems market drivers and trends, positioning systems market major players, positioning systems competitors' revenues, positioning systems market positioning, and positioning systems market growth across geographies. The positioning systems market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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