The global night vision system market share is expected to surpass a valuation of US$ 1.276.8 Billion by 2032, with sales growing at a 13.9% CAGR over the forecast period. Increasing sales of luxury cars, along with rising awareness regarding road safety is boosting the requirement for improved night visibility range and quality. This is expected to fuel sales in the market over the forecast period.
Key Takeaways:
- By technology type, infrared sensor sales are expected to grow at a CAGR of 13.6%during the forecast period.
- Based on vehicle type, the passenger vehicle segment is anticipated to dominate the market, accounting for about 69%of the total market share.
- In terms of sales channel, the OEM segment is projected to create an absolute dollar opportunity worth US$ 679.9 Mn.
- The U.S. is expected to account for 9%of the North America night vision market share, creating an absolute $ opportunity of US$ 143.3 Mn by 2032.
- Total sales in China will grow at a 4% CAGR, accounting for more than 68% of the East Asia night vision market share in 2022.
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The development of NIR (near infrared range) technologies has accelerated recently. When there is little or no light, photons generated by NIR technology aid in the identification of distant objects.
It is required for eye tracking and gesture control in night vision systems. The device has a detection range of no more than 600 feet, consumes less energy, and provides a decent image in the dark. Therefore, it is anticipated that sales of vehicle night vision will increase globally.
More sensors are being added to cars in order to make them smarter and more autonomous. Several sensor-based technologies, such as automated response, driver face detection, obstacle detection, and traffic sign recognition, are starting to develop in the automotive night vision market. Over the course of the anticipated time, it is predicted that demand will rise greatly due to the incorporation of modern technologies and enhanced sensors.
“Increasing autonomous vehicle fleet coupled with growing road safety awareness, particularly at night will continue driving the market over the forecast period,” says an FMI analyst.
Competitive Landscape
Some of the leading players operating in the market include Continental AG, Robert Bosch GmbH, Mobileye, Veoneer Inc., Valeo SA, Magna International, and others.
Manufacturers are strategically collaborating with technology partners for long supply relations and to instigate a central control unit for different ADAS technologies.
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Key Segments Covered in Night Vision System Industry Analysis
Technology:
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
Sales Channel:
- OEM
- Aftermarket
Vehicle Type:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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