Global Automotive Night Vision System Market 2019-2024
February 19, 2019 | PRNewswireEstimated reading time: 4 minutes
The global automotive night vision system market is estimated to generate revenues of around $3 billion by 2024, growing at a CAGR of more than 15% during 2018-2024.
Developed countries such as the US, Japan, the UK, Germany, and France are some of the leading regions for these systems in the global market. The electrification of vehicles in the form of powertrain, connected vehicles, safety systems, infotainment, and electronics will augment the evolution of the market over the next few years. The global automotive night vision system market is driven by the developments in artificial intelligence and growth of ADAS systems. The introduction of anti-lock braking systems (ABS), engine control units (ECUs), electronic fuel injection systems, and automated locking systems will transform the global market. The market research report provides in-depth market analysis and segmental analysis of the global automotive night vision system market by product, technology, vehicle, and geography.
The report considers the present scenario of the global automotive night vision system market and its market dynamics for the period 2019-2024. It covers a detailed overview of the various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and other prominent companies operating in the market.
Automotive Night Vision System Market—Dynamics
The growing need for night vision systems for successful implementation of autonomous driving will drive the global automotive night vision system market. The inclusion of night vision systems would greatly help in reducing the pedestrian fatalities. Till date, a lot of research was conducted only on making day time driving safer, but Uber's accident has shifted manufacturers focus towards safety during night time driving. Just like humans, self-driving cars also face difficulties in identifying objects at night primarily due to darkness that shrouds object at night.
The global luxury car market is witnessing rapid growth owing to the massive demand from the APAC region due to the huge wealth expansion among the population and the need for personal luxury goods. In 2017, China accounted for about 32% of the global luxury car sales, overtaking the US. In the same year, Maserati recorded its highest ever annual sales in China, as its sales jumped 119% over that in 2016.
Currently, OEMs rely heavily on data to offer better customer services such remote diagnostics, and predictive maintenance among others. This has influenced the digitization of numerous functions in vehicles such as monitoring of metrics like speed, fuel efficiency, gas tank levels, heating and air conditioning among others. Digitization of cars has helped manufacturers to continuously improve on the functionalities and deliver better products that adhere to the stringent safety and emission norms. The data collected by various sensors offer a birds eye view of the performance of the car, which allows driver to take informed decisions to increase the performance of the car.
Automotive Night Vision System Market—Segmentation
This market research report includes a detailed segmentation of the market by product, technology, vehicle, and geography. The global automotive night vision system market by product is classified into active night vision systems and passive night vision systems. Passive systems segment dominated the total market share in 2018, growing at a CAGR of around 15% during the forecast period.
The growing demand for ADAS systems is driving the need for passive systems in the global market. The active system uses infrared light sources which don't cause a distraction for oncoming drivers at night as the infrared band falls outside the visible spectrum in the market. The visual data of these systems are captured on special cameras and relayed to the output monitors, HMI, and infotainment systems.
The technology segment in the global automotive night vision system market is divided into far infrared (FIR) and near infrared (NIR). Near infrared (NIR) is the fastest growing segment in the global market, at a CAGR of approximately 19% during the forecast period. The adoption of infrared illumination and stringent safety norms by governments worldwide is fueling the growth of this segment in the global market. The average detection of FIR is higher than NIR, with an average detection distance of 119m for older drivers and 144m for younger drivers. The extensive use of these systems will create lucrative opportunities for leading vendors in the global automotive night vision system market.
The global automotive night vision system market by vehicle is segmented into passenger cars and commercial vehicles. The passenger cars segment occupied the largest market share in 2018, growing at a CAGR of more than 14% during the forecast period. The implementation of stringent regulations and the growing adoption of safety technologies will drive the growth of the passenger cars segment in the global market.
Several OEMs are integrating vehicle chassis, LiDAR, radar, and cameras in commercial vehicles to meet the dynamic consumer demands in the global market. The growing adoption of electric vehicles will propel the growth of the global automotive night vision system market.
Automotive Night Vision System Market—Geography
The geographical segment in the global automotive night vision system market is categorized into APAC, Europe, North America, Latin America, and MEA. APAC is the fastest growing region in the global market, at a CAGR of around 16% during the forecast period. The increasing penetration of luxury cars, safety systems, and the adoption of stringent safety and emission norms are some of the major factors contributing to the growth of the APAC region in the global market.
North American countries such as the US, Canada, and Mexico are the largest revenue generators in the market. The increasing demand for luxury vehicles, electric cars, and the demand for automotive safety systems across MEA will boost revenues in the global automotive night vision system market.
Suggested Items
IDTechEx Report: Illuminating the Future of Lidar in Automotive
05/09/2024 | PRNewswireIn the rapidly evolving landscape of Advanced Driver-Assistance Systems (ADAS) and autonomous driving, sensor technologies have emerged as a pivotal force driving innovations in the automotive industry.
Sondrel Awarded New Video Processor ASIC Design and Supply Contract
05/09/2024 | SondrelSondrel, a leading provider of ultra-complex custom chips for leading global technology brands, is pleased to announce that it has won a major ASIC design and supply contract for a next generation, video processing chip.
IDC Forecasts Slower Growth for Global Telecommunications Services Market: Could AI Help Telcos to Maintain Healthy Margins?
05/08/2024 | IDCWorldwide spending on Telecom Services and Pay TV Services reached $1,509 billion in 2023, an increase of 2.1% over 2022, according to the International Data Corporation (IDC) Worldwide Semiannual Telecom Services Tracker.
Simbe Partners with Plexus to Scale Manufacturing and Meet Global Retail Demand
05/08/2024 | Globe NewswireSimbe, the leading provider of Store Intelligence™ solutions that increase retailer performance through unprecedented visibility and insights, today announced a partnership with Plexus Corp. to bring its best-in-class retail robotics-as-a-service to market quickly and at global scale.
IDTechEx Discusses Low-Loss Materials: The Enabler of Future Connected Vehicles?
05/06/2024 | IDTechExFuture connected vehicles will offer future drivers a safer, smoother, and more convenient driving experience. Not only will drivers get access to more navigation and entertainment options, but they will also gain access to safety technologies that will potentially reduce accidents, improve congestion, and reduce emissions globally by allowing vehicle safety systems to communicate with each other and with city traffic infrastructure.