Automotive Night Vision System Market Revenue to Surpass


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.

Request for a sample of this premium research report @ https://www.acumenresearchandconsulting.com/request-sample/2914

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.

Report Coverage

Market Automotive Night Vision System Market
Market Size 2021 US$ 3,345 Mn
Market Forecast 2030 US$ 8,300 Mn
CAGR 11% During 2022 – 2030
Analysis Period 2018 – 2030
Base Year 2021
Forecast Data 2022 – 2030
Segments Covered By Product, By Component, By Display, And By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled 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.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Customization Scope 10 hrs of free customization and expert consultation

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.

To receive personalized service, please share your research needs here@ https://www.acumenresearchandconsulting.com/request-customization/2914

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.

Browse Automotive, Transportation and Logistics Industry Report:

The global automotive condenser market is anticipated to grow at a CAGR of around 4.9% during the forecast period 2020 to 2027 and to reach around US$ 13.2 Bn by 2027.

The global automotive closure market is anticipated to reach market size of around US$ 25,000 Mn by 2027 and is anticipated to grow at a CAGR of around 7% in terms of revenue during the forecast period 2020 – 2027.

Major Players

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.

Buy this premium research report – https://www.acumenresearchandconsulting.com/buy-now/0/2914

About Acumen:

Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

Contact Us:

Mr. Richard Johnson

Acumen Research and Consulting

USA: +14079154157

India: +918983225533

E-mail: sales@acumenresearchandconsulting.com

Official Press Release: https://www.acumenresearchandconsulting.com/press-releases/automotive-nightvision-system-market

Acumen Research and Consulting



Source link

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy