The global Automotive Night Vision System Market Revenue is projected to attain a CAGR of 11.5% during the forecast period (2015-2023), reckons Market Revenue Research Future (MRFR).
Growth Drivers and Top Challenges
Automotive night vision systems are instrumental in prevention of accidents. The world over, these systems are gradually becoming a significant part of passenger cars. Given its ability to go beyond the vehicle’s headlights, an automotive night vision system helps elevate the driver’s perception in poor visibility weather conditions as well as darkness. The system alerts the driver of any oncoming animal or pedestrian by showing a red image at the front of the vehicle. The width and length of the danger zone are dependent on the vehicle’s speed.
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Automotive night vision systems also find great use in military ground transport vehicles including trucks, tanks, armored personnel carriers, and humvees. With the changing end-user requirements, a variety of technologies are emerging that are helping advance the automotive night vision systems. Rising concern regarding accidents during night rides works in favor of the automotive night vision systems.
The penetration rate of night vision systems in luxury and premium cars is quite high, and these vehicles have a broad customer base in developed regions like Europe and North America. With rising sale of luxury and premium cars in these regions, the worldwide Market Revenue for automotive night vision systems Market Revenue is bound to see immense profits in the coming years.
The worldwide Automotive Night Vision System Market Revenue has been segmented with respect to technology, components, system, and vehicle type.
Depending on technology, the Market Revenue includes Far Infrared (FIR) and Near Infrared (NIR). Between these, Near Infrared (NIR) was identified as the leading segment in the global Market Revenue in 2016, considering the Market Revenue revenue. The segmental dominance is the result of a host of advantages the technology delivers, including aiding the driver in noticing warmer living things as clearly as spotting colder, dead animals or objects.
Component-based segments in the Market Revenue are controlling unit, display unit, sensors, and others.
The types of systems covered by the report are active NVS and passive NVS. The passive NVS segment lands at the top spot in the Automotive Night Vision System Market Revenue thanks to its high range of close to 300 meters, as well as high contrast for living objects.
As per the vehicle type, the Market Revenue can be narrowed down to passenger cars and commercial vehicle. The passenger vehicles segment could attain the highest growth rate during the review period. The original equipment manufacturers are continuously working on developing passenger cars that are integrated with night vision systems as it helps reduce the number of road accidents. Also, intensifying competition within the automotive industry is prompting original equipment manufacturers to develop advanced models of passenger cars that have night vision systems.
The main Market Revenues for automotive night vision system are North America, Europe, Asia Pacific (APAC) along with the Rest of the World (RoW).
North America is expected to be the most attractive Market Revenue for automotive night vision in the following years. Mounting demand for premium and luxury cars along with high disposable income helps the Market Revenue achieve higher position worldwide. Also, government regulations pertaining to vehicular safety systems coupled with favorable economic conditions in the region stimulates growth of the Automotive Night Vision System Market Revenue . The region could note a rise in demand for mid-range passenger cars in the coming years, which could work wonders for the Market Revenue to a great extent.
In Europe, especially in Germany, demand for advanced safety systems is continually growing in the face of rising road accidents. Significance of night vision systems has radically increased in recent years, given the surge in vehicle accidents. With the installation of new plants by OEMs in the region, the business growth is touted to be expansive in the conjectured timeframe.
Some of the renowned vendors operating in the worldwide Automotive Night Vision System Market Revenue are Robert Bosch GmbH (Germany) Continental AG (Germany), Delphi Automotive System Inc (U.S.), Denso Corporation (Japan), Autoliv Inc. (Sweden), HELLA KGaA Hueck & Co. (Germany), Bendix Commercial Vehicles Systems (U.S.), Valeo (France), Magna International Inc. (Canada), FLIR Systems (U.S.), to mention a few.
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