New market research study provides an analysis and evaluation of the current and prospective profitability, liquidity and financial stability of Global Virtual Positioning System Industry.
Positioning System is a tool for determining the location of an individual or object. The technology requires global coverage and sharp accuracy to achieve the exact location. For instance, Google Maps, which is one of the positioning and navigation systems, helps individuals to find their exact location as well as path towards their destination. However, the system offers satellite view of the region under navigation. The virtual positioning system is completely different system, along with the basic navigation and positioning feature, since it offers live scenario, i.e. live location and orientation with respect to surrounding environment in the phone.
Generally, virtual positioning system uses computer vision to accurately estimate the position of user's phone. The system uses various sensors and sensory cues among vision cues, 3D sensors, depth sensors, camera systems, etc. The system mainly utilizes phone’s sensor’s and camera’s and has a particular software to demonstrate its significance. Furthermore, the system is integrated with virtual and augmented reality features; which requires precise position approximation to intersect virtual content onto physical shops, and tourist attractions in cities.
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The currently implemented virtual positioning systems covers entire city and the VPS software decodes camera input that captures images of the city. Later, images encode location coordinates as well as, the angle at which markers are read and helps determining the height and distance to them, which yields a 3-dimensional location with accuracy.
The global virtual positioning system market is bifurcated on the basis of technology, type, solution, application and region. Based on the technology, the market is segmented as computer vision, augmented reality and others. Computer vision is the technology, which utilizes computers for gaining high-level understanding from digital images or videos. It seeks to automate tasks, similar to any human visual system. Computer vision tasks include techniques for acquiring, understanding, analyzing and processing digital images as well as extraction of high-dimensional data from the actual world for generating numerical or symbolic information, e.g., in the forms of decisions. Augmented Reality is a direct or indirect live view of real-world, physical environment whose elements are enlarged by computer-generated perceptual information.
Based on the types, the market is segmented as, indoor positioning system and outdoor positioning system. Indoor positioning system locates objects inside a building or outlet, institutes using sensory information collected by smart phones. Whereas, outdoor positioning system helps us navigate and locate different locations, routes, across the city virtually through the phone’s screen. Outdoor systems find its application for outdoor mapping, drones, and military robotics.
Further, based on the solution, the market is segmented as tracking, navigation, industrial solutions and others. Among various solutions, Navigation solution is projected to acquire major share for virtual positioning systems due to the rapid growth in tourism, infrastructure development, retail sectors, transportation and logistics, etc.
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The market is further segmented based on applications as, commercial, military & defense and others. Commercial segment is anticipated to account for the highest market share over the forecast period, owing to the rise in industrial automation in logistics & warehouse management. Additionally, commercial applications comprise of healthcare and navigation in retail stores. The system can be used in military applications, to acquire information regarding to the restricted areas. Geographical segmentation of the market is based on the regions, which includes North America, Europe, Asia Pacific, Middle East and Africa and Latin America. It also includes countries/regions such as the U.S, the U.K., Germany, France, Japan, China, India, GCC, North Africa, South Africa and Brazil.
The prominent players involved in the development of virtual positioning system include, Google, Blippar, and other startup companies such as fantasmo. Google in May 2018, unveiled the visual positioning system whereas, Blippar launched its urban visual positioning system in 2017. Fantasmo is still involved in research & development phase and is expected to launch the product soon.
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