The global night vision surveillance cameras market is estimated to garner a revenue of ~USD 790 billion by the end of 2031 by growing at a CAGR of ~21% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 83 billion in the year 2021. The market is estimated to grow on the back of rising demand of night vision surveillance cameras from military and defense industry for security & safety concerns & monitoring border areas. In addition, the military and defense sectors are adopting and spending more on night vision surveillance cameras to meet the increasing demand for night patrol and combat operations. According to the World Bank data, global military expenditure in proportion with gross domestic product (GDP) stood at around 2.4% in 2020, up from 2.2% in 2019.
The global night vision surveillance cameras market is also estimated to witness growth on account of rising trend of smart homes. According to estimates, the number of smart homes worldwide is expected to reach 345 million by 2023, up from 220 million in 2020. Moreover, this figure is expected to cross 460 million by the end of 2025. Moreover, the integration of near-infrared (NIR) imaging technology in night vision surveillance cameras is expected to drive the market growth as it enables night vision systems to track and detect motion even in dim light or darkness. Hence, such factor is anticipated to boost the growth of the market in the coming years.
The night vision surveillance cameras market is segmented and analyzed for demand and supply by type into PTZ (Pan, Tilt and Zoom) and fixed. Out of these segments, PTZ segment is anticipated to garner the largest market share over the forecast period, owing to the growing adoption of PTZ cameras across numerous sectors including airports, supermarkets, museums, construction sites, large outdoor areas, and guard stations. According to statistics, in the United States, in 2019, there were about 5,000 airports for public use and about 14,500 for private use, and by 2020, the number of airports for public and private use grew to approximately 5,200 and 14,700. Hence, such factor is estimated to fuel the growth of the market segment in the coming years.
Regionally, the global night vision surveillance cameras market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America is projected to hold the largest market share by the end of 2031. This can be accredited to the increasing security breaches, retail availability of night vision surveillance cameras and rising number of stadiums in the region. As per data, in the United States, there were around 900 stadiums, which is the highest in any country. Such factor is estimated to foster the market growth in the region.
Further, the market in Asia Pacific is anticipated to grow with an exponential rate during the forecast period, owing to the rising infrastructures, increasing demand for location-based gadgets amongst government sectors and public transportation including airports, train station and others. According to statistics, Indian Railways infrastructure is estimated to have an investment of around ~USD 710 billion by the end of 2030. Moreover, rising military and defense spending in the region is also estimated to propel the market growth in the APAC region.
The global night vision surveillance cameras market is further classified on the basis of region as follows:
Our in-depth analysis of the global night vision surveillance cameras market includes the following segments:
By Product Type
By End Use Application
Top Featured Companies Dominating the Global Night Vision Surveillance Cameras Market
FREQUENTLY ASKED QUESTIONS
Rising heavy investment on infrastructures and increasing focus on technological advancements are estimated to majorly boost the market growth.
The market is anticipated to attain a CAGR of ~21% over the forecast period, i.e., 2022 – 2031.
Insufficient data storage capacity and high price associated with night vision surveillance cameras are estimated to challenge the market growth.
The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are BAE Systems plc, L3Harris Technologies, Inc., Canon Inc., Bosch Sicherheitssysteme GmbH, Honeywell International Inc., Panasonic Holdings Corporation, Dahua Technology Co., Ltd and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, type, end use application and by region.
The PTZ (Pan, Tilt and Zoom) segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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