June 06, 2022 18:00 ET | Source: Acumen Research and Consulting Acumen Research and Consulting
TOKYO, June 06, 2022 (GLOBE NEWSWIRE) — The Global Automotive Night Vision System Market size is projected to grow at a CAGR of above 11% during the projected years and reach a value of over US$ 8,300 Mn by 2030.
According to the European Commission for the Automobile Industry, about half of the accidents happen at night. Because the same study found that nighttime traffic is 60 percent lower, it’s evident that an inconsistent amount of accidents occur nighttime. Since night vision isn’t widely available, there isn’t enough evidence to say whether or not night vision systems are effective. Additionally, according to research conducted by the National Highway Transportation Safety Administration, some motorists are willing to drive faster at night using these systems, potentially increasing the number of accidents.
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Global Automotive Night Vision System Market Growth Factors
The major aspect that drives the growth of the global automotive night vision system is the increasing road safety regulations by numerous governments. The high cost of human life, such as rising fatality and injury rates, tends to focus emphasis on road safety. The publication of estimated annual numbers of road injuries and deaths, as well as WHO’s forecasted increase in the ranking of road injuries as a leading cause of death from ninth place in 2004 to fifth place in 2020 if no action is taken, has focused global attention on the need to reduce injuries and fatalities.
In addition, growing technological advancements in thermal imaging technologies are expected to provide significant stimulus toward market growth. Thermal imaging can help companies expedite quality inspection as the world of car manufacturing becomes smarter. Thermal can be integrated at every stage of the process, from back window heating to glue bead placement, recognizing faults that machine vision might miss.
On the other hand, the high cost of night vision systems could hamper the growth of the market, especially in emerging economies. Another factor that could lead to a downturn is the inefficiency of the night vision systems, although companies are relentlessly trying to make improvements in the technology and launch new reliable products. For example, OMNIVISION Technologies, Inc., a leading developer of advanced digital imaging solutions, announced the release of Nyxel-2 – the second generation of its groundbreaking near-infrared (NIR) technology for image sensors that work in low to no ambient light surroundings.
Global Automotive Night Vision System Market Segments
The market for automotive night vision system is categorized into component, product, display, and geography. The component segment is further split into night vision cameras, sensors, controlling units, and others. Based on our analysis, the night vision camera is expected to lead the market with a considerable market share in 2021. Rising technological breakthroughs in-vehicle vision recognizing systems, as well as their increasing implementation in a variety of ADAS technologies, are likely to promote segmental growth. However, the sensors segment is expected to attain a substantial growth rate during the forecast period 2022 – 2030.
On the basis of product, the market is bifurcated into active systems and passive systems. Based on them, the active systems segment is likely to register a considerable growth rate in the coming years. Active night vision systems use an infrared illuminator, which is sometimes integrated into the headlamp cluster, to illuminate the road in the infrared spectrum. It is possible to get a higher-resolution image than passive. Roads and buildings are more visible. That’s why drivers believe they’re watching black-and-white television of the road ahead.
The display segment can be categorized into instrument cluster, head-up display, and navigation display. Based on them, instrument cluster segment achieved a noteworthy market share while the head-up display segment achieved a significant CAGR throughout the projected years.
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Automotive Night Vision System Market Regional Stance
North America, Latin America, Europe, Asia-Pacific, the Middle East, and Africa are covered under the regional category. The market for the North American region is expected to occupy a significant chunk during the projected period. The high growth in the region is attributed to the rising adoption of advanced driving assistance systems (ADAS) for automobiles and the increasing demand for luxury and premium vehicles. Then again, increasing consciousness regarding road safety and the emergence of autonomous driving in the region is also likely to create opportunities for the North American automotive night vision system industry. However, in terms of growth, the Asia-Pacific region is on top with the growing number of road accidents coupled with the rising number of government initiatives for road safety. Moreover, the increasing trend of electric mobility in countries such as China, South Korea, Japan, etc. is also supporting the fastest growth rate in the Asia-Pacific region.
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The automotive night vision system industry involves many key players. The top players presented in the report include Autoliv, Magna Electronics, Bendix Commercial Vehicles Systems, Continental, Delphi Automotive PLC, FLIR Systems, TRW Automotive, Omron Corporation, Satire, Robert Bosch, and Shenzhen Protruly Electronics Co. Ltd.
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Mr. Richard Johnson
Acumen Research and Consulting
E-mail: [email protected]
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