The global night vision system (NVS) market share is expected to surpass a valuation of USD 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.
NIR (near infrared range) technology development has intensified recently. Photons produced by NIR technology help to identify distant objects when there is little or no light.
In night vision systems, it is necessary for eye tracking and gesture control. The device uses less energy, produces a good image in the dark, and has a detecting range of no more than 600 feet. It is therefore projected that global sales of vehicle night vision will rise.
In order to make cars more intelligent and autonomous, additional sensors are being added to them. The automobile night vision industry is beginning to see the emergence of several sensor-based technologies, including automated response, driver face detection, obstacle detection, and traffic sign recognition. Due to the incorporation of contemporary technology and improved sensors, it is projected that demand would increase significantly over the course of the anticipated 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 USD 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 USD 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.
“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.
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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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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