June 13, 2022 03:16 ET | Source: The Brainy Insights The Brainy Insights
Newark, June 13, 2022 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global automotive night vision system market is expected to grow from USD 3.8 billion in 2021 to USD 9.5 billion by 2030, at a CAGR of 10.8% during the forecast period 2022-2030.
The automotive night vision system is a technologically advanced system that increases the driver’s visibility during nighttime, low light, or bad weather conditions. This helps prevent accidents that usually take place due to less visibility. The increasing need for safety features in vehicles drives the market’s growth. Most developed countries are already using this safety feature in most of their cars, while in developing countries, the night vision system is only available in luxury vehicles. With the increasing need for autonomous vehicles, advanced driver assistance systems have increased, propelling the demand for night vision systems in vehicles. The system offers several high-end features, such as broad dynamic range, high sensitivity, and LED flicker mitigation. These characteristics help drivers recognize the shapes and colors of objects in low-light conditions and enable collect high-quality data even while traveling in no light.
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To enhance their market position in the global automotive night vision system market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In June 2020, the European Commission announced’ Vision Zero,’ a new approach to improving road safety in the EU. The strategic plan also includes significant safety features, such as lane automatic emergency braking, departure warning, and drowsiness & attention detection, which must be included in the new vehicles by 2022.
Market Growth & Trends
The automotive night vision system market is being driven by the growing public awareness of road safety. The rising demand for luxury vehicles developed with more advanced technologies to prevent accidents drives the market’s growth. However, the lockdown imposed during the outbreak of Covid-19 disrupted the automotive sector and hampered the growth of the automotive night vision system market. The enforcement of strict rules and regulations by government and safety organizations to include night vision systems in vehicles is an opportunity for the market’s growth. Research and development activities to improve the quality and performance of the night vision system in cars are expected to boost the market’s growth during the forecast period. But the high installment cost of the night vision system is a challenge for the market’s growth as it increases the consumer’s expenditure on vehicles.
● In 2021, the Far Infrared (FIR) segment dominated the market with a market share of around 58% and market revenue of 2.2 billion.
The Technology Type segment is divided into Far Infrared (FIR) and Near Infrared (NIR). In 2021, the far infrared (FIR) segment dominated the market with a market share of around 58% and market revenue of 2.2 billion. Far infrared works best in low light, which drives the segment’s growth.
● In 2021, the HUD segment accounted for the largest share of the market, with 39% and market revenue of 1.48 billion.
The display type segment is divided into the instrument cluster, navigation system, and HUD. In 2021, the HUD segment accounted for the largest share of the market, with 39% and market revenue of 1.48 billion. The night vision system placed on the HUD of the cars ensures that there is no distraction for the driver while driving, which propels the growth of the market.
● In 2021, the sensor segment accounted for the largest share of the market, with 33% and a market revenue of 1.2 billion.
The component type segment is divided into a night vision camera, sensor, display unit, controlling unit, and other components. In 2021, the sensor segment dominated the market with a market share of around 33% and a market revenue of 1.2 billion. Sensors are widely used to detect an object or moving vehicles in low or no light, including cyclists, which drive the segment’s growth during the forecast period.
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Regional Segment Analysis of the Automotive Night Vision System Market
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global automotive night vision system, with a market share of around 41% and 1.55 billion of the market revenue in 2021. The region has the presence of prominent manufacturers in the automobile industry, which drives the growth of the market in the region. The increasing demand for high-performance cars in countries like India and China is also driving the market’s growth in the region.
Key players operating in the global automotive night vision system market are:
● Audi AG
● Autoliv Inc
● Bendix Commercial Vehicles Systems
● Continental AG
● Daimler AG
● Delphi Automotive Plc.
● DENSO CORPORATION
● FLIR Systems, Inc.
● Omron Corporation
● Robert Bosch GmbH
This study forecasts revenue at global, regional, and country levels from 2022 to 2030. Brainy Insights has segmented the global automotive night vision system market based on the below-mentioned segments:
Global Automotive Night Vision System Market by Technology Type:
● Far Infrared (FIR)
● Near-Infrared (NIR)
Global Automotive Night Vision System Market by Display Type:
● Instrument Cluster
● Navigation System
Global Automotive Night Vision System Market by Component Type:
● Night Vision Camera
● Display Unit
● Controlling Unit
● Other Components
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About the report:
The global automotive night vision system market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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