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.
NIR (near infrared range) technology development has intensified recently. In low- or no-light situations, NIR technology produces photons that aid in the detection of distant objects.
In night vision systems, it is necessary for eye tracking and gesture control. The device uses less energy and has a detection range of no more than 600 feet while producing a good image in the dark. Therefore, it is projected that sales in the global market for vehicle night vision will rise.
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In order to make cars smarter and more automatic, more sensors are being added to them. The automobile night vision industry is seeing the emergence of several sensor-based technologies, including automated response, driver face detection, obstacle detection, and road sign recognition. The incorporation of modern technology and improved sensors is expected to cause demand to increase significantly over the course of the projected period.
“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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