The positioning services from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Positioning Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The positioning services market size has grown rapidly in recent years. It will grow from $27.25 billion in 2023 to $30.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to rapid urbanization, robust automotive industry, utilization of digital marketing and online channels, increasing reliance on location-based data, shifted focus towards the customers’ perspective in product positioning.
The positioning services market size is expected to see rapid growth in the next few years. It will grow to $51.03 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to growing emphasis on smart and connected technologies, expanding precision agriculture applications, increasing demand for geospatial imagery analytics, mapping, and GIS applications, integration of 5G networks, rise of e-commerce. Major trends in the forecast period include adoption of GPS technology, advancements in automotive navigation, advancements in positioning technology, developments in satellite technology, technological advancements.
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Scope Of Positioning Services Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Positioning Services Market Overview
Market Drivers –
The increasing number of autonomous vehicles is expected to propel the growth of the positioning services market going forward. Autonomous vehicles are self-driving vehicles that employ advanced sensor technologies, computer systems, and artificial intelligence to operate and navigate without constant human intervention or monitoring. The increasing number of autonomous vehicles is 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. Highly accurate and reliable positioning services are critical for developing and operating autonomous and self-driving vehicles, improving the functionality and safety of automotive vehicles. 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 services market.
Market Trends –
Major companies operating in the positioning services market are developing innovative solutions such as GNSS Precise Point Positioning (PPP) services to enhance location-based applications’ accuracy, reliability, and efficiency across various industries. GNSS Precise Point Positioning (PPP) is an advanced global navigation satellite system (GNSS) data processing technique that provides highly accurate location information by correcting various error sources in the GNSS signals. For instance, in July 2021, Fugro, a Netherlands-based surveying services company, launched the SpaceStar GNSS Precise Point Positioning (PPP) service. This service provides high-accuracy positioning in space for the first time by delivering real-time sub-decimetre absolute positioning and nanosecond-level timing onboard Low Earth Orbit (LEO) satellites. The service also enables enhanced space situational awareness, precise thruster optimization, proximity operations, auto docking, Earth observation applications, and RF geolocation
The positioning services market covered in this report is segmented –
1) By Type: Indoor Positioning, Outdoor Positioning
2) By Application: Navigation, Surveying And Mapping, Fleet Management, Geotagging, Other Applications
3) By End-User: Transportation And Logistics, Defence And Military, Healthcare, Aerospace, Agriculture, Consumer Electronics, Other End-Users
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Regional Insights –
North America was the largest region in the positioning services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the positioning services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the positioning services market are Stonex Group Inc., Qualcomm Inc., Honeywell International Inc., Broadcom Inc., Texas Instruments Inc., STMicroelectronics NV, Hexagon AB, Garmin Ltd., Nikon Corporation, Rockwell Collins Inc., Trimble Inc., Topcon Corporation, Leica Geosystems AG, TomTom N.V,, NovAtel Inc., CHC Navigation, Eos Positioning Systems, Avidyne Corporation, Hemisphere GNSS Inc., Javad GNSS Inc., Septentrio Inc., Spectra Geospatial, ComNav Technology Ltd., Geneq Inc., Pentax Corporation, Kolida Instrument Co. Ltd.
Table of Contents
1. Executive Summary
2. Positioning Services Market Characteristics
3. Positioning Services Market Trends And Strategies
4. Positioning Services Market – Macro Economic Scenario
5. Global Positioning Services Market Size and Growth
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32. Global Positioning Services Market Competitive Benchmarking
33. Global Positioning Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Positioning Services Market
35. Positioning Services Market Future Outlook and Potential Analysis
36. Appendix
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