Market Overview
As per the recent updates, the global Night vision system market is witnessed at USD 3 billion in 2020 and is predicted to grow at a significant CAGR of 11% with market size of USD 5 billion during the forecast period 2021-2027. Automotive Night Vision System is one type of thermo- graphic camera used in vehicles that increases the driver’s perception and gives a clear vision even from distance in night darkness and in poor weather where beyond the vehicle’s headlight reaches. This system is rarely used as an optional equipment only on premium vehicles. Owing to the amalgamation of the night vision system with the modified front lighting system, the automotive night vision system is highly demandable in the review period. This system improves the driver’s prospects and recognizes the presence of potential hazards.
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This system is available only in luxury cars in developing countries. The rising demand for luxurious cars and rising safety concerns in consumers, and the introduction of technological innovations are boosting the demand for the product. The Advanced Driver Assistance Systems (ADAS) is the essential factor in this system that is escalating the industry growth. These systems are implemented in both autonomous and semiautonomous vehicles for ensuring safe driving. This system comprises both active and passive systems. The active night vision system makes use of the integrated infrared light source for visibility in the dark. This can show the objects clearly which are far away than the reach of headlights. Whereas a passive night vision system works by detecting the heat emitted by objects using thermal cameras.
The Night vision system market opportunities are raising awareness regarding road safety and the benefits of this system may increase the demand over the market. Moreover, the advanced front light system improves the visibility range which provides a significant opportunity to manufacturers.
Market Segmentation
According to the latest research, the global automotive night vision system is categorized into four segments such as components, system, vehicle type, and technology.
Components Segmentation: The automotive night vision components are the controlling unit, display unit, sensors, and others.
System Segmentation: The automotive night vision systems are bifurcated into active NVS and passive NVS.
Vehicle Type Segmentation: By vehicle type, the automotive night vision system is bifurcated into commercial vehicles and passenger cars.
Technology Segmentation: Based on the technology, the automotive night vision system is Far Infrared and Near Infrared.
Regional Analysis
By the Night vision system market share and other aspects, the regional market is analyzed into five major regions such as Asia-Pacific, North America, Latin America, Europe, and the Middle East Africa. North America is predicted to hold the highest market share due to the existence of major key players like Delphi Automotive Systems, Inc, FLIR Systems, and Magna International Inc. Owing to the booming automobile industry, the Asia-Pacific region witnessed the highest CAGR during the forecast period. In addition to that, the improved standards of living, developments of the infrastructure of roads, and rise in per capita ownership of cars are accelerating the market growth in this region.
The major key players of the Night vision system market are Denso Corporation (Japan), Continental AG (Germany), Delphi Automotive System Inc. (U.S), Magna International Inc. (Canada), and others.
Industry News
Based on the recent research and updates, the Night vision system market forecast states that this night vision system sector is going to reach the highest position in the market for its introduction of advanced technologies like PathFinder, a night vision camera which is introduced by IFLIR systems. These are used in motor vehicles.
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