Night Vision System (NVS) Market Size & Share, by Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle); Technology (Ultrasonic Sensor, Lidar Sensor, Radar Sensor, Camera Sensor, Infrared Sensor, Pressure Sensor); Sales Channel (OEM, Aftermarket) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 4453
  • Published Date: Sep 12, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Night Vision System (NVS) Market size was over USD 381.24 million in 2023 and is set to cross USD 2.04 billion by the end of 2036, growing at more than 13.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of night vision system is estimated at USD 423.33 million.

The growth of the market can be attributed to the rising number of road accidents. According to statistics released by the National Safety Council, 50% of traffic fatalities occur at night.

Night vison is a technology which provides some vision to the user in total darkness. Hence, they are extensively used while night driving. Further, the ongoing research and development activities related to automatic emergency braking is expected to boost the night vision system (NVS) market for night vision system (NVS). The National Highway Traffic Safety Administration of the U.S. Department of Transportation provided an update on the status of 20 automakers' efforts to produce new passenger vehicles with low-speed automatic emergency braking systems in 2019.


Night-Vision-System-Market
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Night Vision System (NVS) Sector: Growth Drivers and Challenges

Growth Drivers

  • Rise in Adoption of Luxury Vehicles- BMW recorded sales of more than 33 million units in 2021, making it the most popular luxury automobile brand in United States.

    The night vision technology is installed in such luxurious car. This technology in their vehicles provides an infrared night vision image of the region lit beyond a vehicle's headlamps. This will make it easier for the driver to spot people or large animals and prevent accidents. Hence owing to this the night vision system (NVS) market is estimated to grow further.
  • Growing Awareness Regarding Road Safety - To end fatalities and serious injuries on European roads, the EU has chosen the Vision Zero and Safe System approach. This method reframes the discussion of road safety policy by emphasising the averting of fatalities and severe injuries.
  • Increase in R&D for Development of New Product- The new Opel Grandland (CAR), which was introduced in January 2022, features cutting-edge technologies and support systems that improve comfort, ease of use, and most importantly, safety while driving.
  • Increasing Demand for Digitalization in Automobiles- Audi equipped the e-Tron GT Quattro's LED headlights with dynamic turn signals as standard equipment in March 2022.
  • Integration of AI and Cloud-Based Technologies- In order to take full-color images even in total darkness, scientists at the University of California, Irvine created a camera system in April 2022 that combines artificial intelligence (AI) and an infrared camera.

Challenges

  • High Cost of Night Vision System
  • Not Suitable in Too Much Darkness
  • The Road Needs to be Clear from Fog or Obstacles

Implementation of advanced technologies which includes ultrasonic sensors, radar sensors, infrared sensors, and more is expected to fuel the price for night vision system. Hence this could be the biggest factor expected to restrain the growth of the night vision system (NVS) market.

Night Vision System (NVS) Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

13.8%

Base Year Market Size (2023)

USD 381.24 million

Forecast Year Market Size (2036)

USD 2.04 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Night Vision System (NVS) Segmentation

The night vision system (NVS) market is segmented and analyzed for demand and supply by vehicle type into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. Out of these segments, the passenger vehicle segment is anticipated to garner the largest revenue share of 37% by the end of 2036, growing at a CAGR of 14.65% over the forecast period. Further, the segment generated revenue of USD 1,964.6 Million in the year 2021. To combat the issue of road accidents manufacturers equipped night vision in the passenger vehicle. Owing to which there is huge demand for passenger vehicle which is estimated to boost the night vision system (NVS) market further. The OICA estimates that the global sales of passenger vehicles were 5,63,98,471 in 2021 and are anticipated to increase rapidly.

Our in-depth analysis of the global market includes the following segments:

By Vehicle Type

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

By Technology

  • Ultra Sonic Sensor
  • Lidar Sensor
  • Radar Sensor
  • Camera Sensor
  • Infrared Sensor
  • Pressure Sensor

By Sales Channel

  • OEM
  • Aftermarket

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Night Vision System (NVS) Industry - Regional Synopsis

Regionally, the night vision system (NVS) market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these regions, the market in Asia Pacific industry is poised to hold 37% revenue share by 2036, backed by launch of new products with new technology by key players following by merges, acquisition, partnership, and collaboration.is estimated to boost the market growth in this region. Hanwha Systems Co., a major South Korean defence contractor, has partnered with vehicle-related sensor producer Truwin Co. to develop car sensors and semiconductors to assist autonomous driving technologies.

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Companies Dominating the Night Vision System (NVS) Landscape

    Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the night vision system (NVS) market that are included in our report are

    • Veoneer HoldCo, LLC.,
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Aptiv, Continental AG,
    • Robert Bosch GmbH,
    • Valeo, Magna International Inc.,
    • Texas Instruments Incorporated,
    • NXP Semiconductors, AGC Inc.,
    • DENSO CORPORATION,
    • OMNIVISION,
    • ZF Friedrichshafen AG,
    • Teledyne FLIR LLC.,
    • Samsung Semiconductor,
    • HELLA GmbH & Co. KGaA.

In the News

  • NXP Semiconductors, LG Electronics, and HELLA Aglaia have formed a strategic partnership to develop automotive vision applications. In order to encourage the best-in-class identification and categorization of vulnerable road users in order to save lives, the three automotive advanced driver assistance systems (ADAS) powerhouses have developed a new vision platform that will be made available to all automakers.

  • DENSO CORPORATION, one of the world's largest automotive suppliers, unveiled the development of a new standard vision sensor that identifies pedestrians at night, cyclists, road signs, driving lanes, and other road users. The new vision sensor enables vehicles to immediately activate emergency brakes when impediments are detected when they are detected by a millimeter-wave radar sensor, helping to decrease accidents and enhance overall vehicle safety.

Author Credits:  Abhishek Verma


  • Report ID: 4453
  • Published Date: Sep 12, 2024
  • Report Format: PDF, PPT
Night Vision System Market Report Scope
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