Global Automotive Night Vision System Market Analysis Report 2023-2030: High Costs Pose Challenges to Adoption, Autonomous Vehicles Fueling Demand

News provided by

Jan 15, 2024, 14:00 ET

DUBLIN, Jan. 15, 2024 /PRNewswire/ -- The "Global Automotive Night Vision System Market, By Component Type; By Product; By Technology Type; By Display Type -Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.

The Global Automotive Night Vision System market, valued at US$ 4.5 Bn in 2022, is projected to reach US$ 8.17 Bn by 2030, registering a Compound Annual Growth Rate (CAGR) of 8.27%. The market volume is also set to grow at a CAGR of 14.04%.

The growth of the Global Automotive Night Vision System market is influenced by several key factors. Firstly, the increasing awareness regarding road safety among both consumers and regulators has spurred a demand for advanced safety systems, such as night vision systems, that can significantly improve road safety during low visibility conditions. This has acted as a key driver propelling the market forward.

Secondly, technological advancements have made automotive night vision systems more sophisticated, efficient, and precise. Progress in sensor technology and image processing algorithms has bolstered the capabilities and performance of these systems, which in turn has made them more appealing to consumers, thus driving the market growth.

However, challenges such as the high costs associated with these systems may deter potential buyers, serving as a potential hindrance to market expansion. Additionally, not all night vision systems are suitable for all types of vehicles, which somewhat limits their applicability and reach.

Despite these obstacles, the emergence of autonomous driving technology represents a promising opportunity for growth. As the automotive industry steadily transitions towards autonomous vehicles, the demand for advanced safety features like night vision systems is expected to skyrocket. These systems are pivotal for autonomous vehicles to navigate safely during night-time or low visibility conditions.

Moreover, the trend of integrating night vision technology into Advanced Driver-Assistance Systems (ADAS) has been gaining traction. This fusion can enhance driver safety by providing superior visibility and more accurate detection of obstacles during night-time driving, a factor that is anticipated to further fuel market growth.

Given these growth influencers, manufacturers and stakeholders in the automotive night vision system market can strategize to capitalize on the opportunities and tackle the challenges present in the market landscape. With increasing safety awareness, technological advancements, and the rise of autonomous driving technologies, the market is expected to witness substantial growth over the forecast period.

Competitive Landscape:

The global Automotive Night Vision System market is competitive, with the four major players accounting for about 45% of the market share. These include Audi AG, Autoliv Inc, Bendix Commercial Vehicles Systems, Continental AG, Daimler AG, Delphi Automotive Plc., DENSO CORPORATION (recently announced a new standard vision sensor that detects pedestrians at night, cyclists, road signs, driving lanes and other road users), FLIR Systems, Inc., Omnivision Technologies Inc., Omron Corporation, Robert Bosch GmbH, and other prominent players.

Questions Addressed in the Report:

What is the forecasted growth rate of the global Automotive Night Vision System market?
What are the primary growth drivers and potential challenges?
Which market segments are expected to see the most growth?
Who are the key players in this market?

Market Influencers:

Key growth drivers include increasing awareness regarding road safety and advancements in night vision systems.
The high cost and lack of suitability for all cars represent significant restraints for the market.
The emergence of autonomous driving technology offers exciting opportunities for market expansion, and new automotive night vision ADAS technology is trending in the market.

Report Insights:

The global Automotive Night Vision System market is forecasted to grow at a CAGR of 8.27% from 2023 to 2030.
Increasing road safety awareness and advancements in night vision systems drive the market growth.
The Sensor component type and the Passive product segment are expected to witness significant growth.
North America dominates the market, while other regions also contribute significantly.

Segment Highlights

In terms of Component Type, the Sensor segment is the fastest growing with a CAGR of 9.29%.
By Product, the Passive segment is expected to cross the US$ 5000 Mn revenue mark by 2030.
In the Technology Type segment, Far Infrared (FIR) holds an opportunity of over US$ 2200 Mn for the period 2023-2031.

Company Profiles (Company Overview, Sales Composition Ratio, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)

Audi AG
Autoliv Inc
Bendix Commercial Vehicles Systems
Continental AG
Daimler AG
Delphi Automotive Plc.
Denso Corporation
FLIR Systems, Inc.
Omnivision Technologies Inc.
Omron Corporation.
Robert Bosch GmbH

Segment Overview:

By Component Type

Thermal Imaging Camera
Night Vision Controlling Unit
Sensor
Other Components

By Product

Active
Passive

By Technology Type

Far Infrared (FIR)
Near Infrared (NIR)

By Display Type

Navigation System
Instrument Cluster
HUD

For more information about this report visit https://www.researchandmarkets.com/r/hhn665

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets