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Increasing Seaborne Trade Across The Globe To Propel Port Equipment Market

The factors that are expected to fuel the growth of the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Various countries have been focusing on developing new ports owing to the increase in vessel count and trade volume. According to the International Chamber of Shipping, 90% of the world’s trade is carried out through seaways as they are ideal for heavy and bulk goods, have large carrying capabilities, and offer competitive freight costs. The global port equipment market size is expected to grow from USD 29.2 billion in 2018 to USD 36.6 million by 2023, at a CAGR of 3.30% during the forecast period. The major driving factors for the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Based on equipment type, the straddle carriers segment is estimated to lead the port equipm
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Vision Positioning System Market Is Estimated To Generate 9.25 Billion USD by 2022

 The global vision positioning system market is estimated to be valued at USD 5.58 billion in 2017 and is projected to reach USD 9.25 billion by 2022, at a CAGR of 10.65% from 2017 to 2022. With the advent of the GPS (Global Positioning System) technology, the application of positioning systems has increased significantly. Positioning systems are extensively used for outdoor navigation in various sectors, such as defense, tourism, and logistics & transportation, among others.

However, for navigation in indoor locations, the GPS-based positioning systems lack accuracy and signal strength. Besides, GPS signals are also restricted over various high sensitive areas, such as military bases, research labs, and underground locations. Hence, vision positioning systems are extensively used for local navigation in these areas.

Camera systems are used to capture real-time images to the processors which store the images in memory. In camera systems various sensors are used, such as pressure, heat, proximity, and accelerometers, among others that provide information about the environment. Other components such as processors and communication devices control operations and provide operational data to operators.

The commercial sector is projected to witness high growth during the forecast period.

The commercial application segment is estimated to account for the largest share of the vision positioning system market in 2017 due to the high usage of vision positioning systems in the automotive industry and increasing automation in various other industries in almost all countries across the world. This segment is also projected to grow at the highest CAGR from 2017 to 2022.

Browse In-depth Insights: https://www.marketsandmarkets.com/Market-Reports/vision-positioning-system-market-223885345.html

Asia Pacific is the fastest-growing market for vision positioning systems during the forecast period.

The growth of the Asia Pacific vision positioning system market can be attributed to the increased demand for industrial automation in Asian countries such as China, Japan, and India. The Asia-Pacific market growth can be attributed to the increasing use of drones for military surveillance and the increase in industrial automation.

Key players offering vision positioning systems include ABB (Switzerland), DJI (China), Sick AG (Germany), FANUC Corporation (Japan), and Locata Corporation (Australia), among others.

DJI (China) is a world leader in vision positioning systems. Founded in 2006 and headquartered in Shenzhen, China, DJI is a privately held company specializing in research, design, and development of drones and imaging solutions. The company manufactures vision positioning system-based drones. These drones are used in agriculture and building & infrastructure sectors, and for public safety purposes, among others.

PARROT SA was founded in 1994 and is headquartered in Paris (France). Parrot SA develops technologically advanced drones and other electronic products. The company provides products under six categories, namely, drones, mini-drones, audio, connected garden, car kits, and business solutions. The company manufactures vision positioning system-based drones which are used in various sectors, such as agriculture, education, building & infrastructure, and for surveillance and monitoring.

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