Portland, OR, Jan. 27, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global car night vision system market garnered $3.4 billion in 2021, and is estimated to generate $9.5 billion by 2031, manifesting a CAGR of 11.0% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.4 billion |
| Market Size in 2031 | $9.5 billion |
| CAGR | 11.0% |
| No. of Pages in Report | 166 |
| Segments covered | Technology, Component, and Region. |
| Drivers | Surge in awareness among mass in road safety issues Growing penetration of luxury cars in developing countries |
| Opportunities | Advancements in 3D technology regarding car night vision system |
| Restraints | High prices associated with the night vision system products |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global car night vision system market, owing to implementation of global lockdown which resulted to temporary closure of production and manufacturing facilities across the globe.
- Considering the inputs from various industry experts belonging to the various stages of the value chain, such as OEMs, suppliers, integrators, end users, and distributors, and the financial release of various companies in the car night vision system ecosystem, it has been calculated that the market experienced a decline during 2019–2020.
- Furthermore, the outbreak of the pandemic had disrupted the global supply chain, thereby creating significant gap in supply chain.
- Key players operating in the car night vision system industry temporarily witnessed a slowdown, owing to lack of availability of skilled professional to develop car night vision system, which led to decline the revenues for the financial year 2020 to 2021.
- However, the market recovered in 2021 and is expected to remain in the growth stage during the forecast period.
The research provides detailed segmentation of the global car night vision system market based on Technology, Component, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on technology, the Far Infrared (FIR) segment held the highest share in 2021, accounting for nearly three-fifths of the global car night vision system market, and is expected to continue its leadership status during the forecast period. However, the Near-Infrared (NIR) segment is expected to register the highest CAGR of 11.7% from 2022 to 2031.
Based on component, the thermal imaging camera segment accounted for the highest share in 2021, contributing to more than two-fifths of the global car night vision system market, and is expected to maintain its lead in terms of revenue during the forecast period. This segment is expected to manifest the highest CAGR of 12.0% from 2022 to 2031.
Based on region, Asia-Pacific held the largest share in 2021, contributing to more than two-fifths of the global car night vision system market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 11.7% during the forecast period.
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Leading market players of the global car night vision system market analyzed in the research include Robert Bosch GmbH, FLIR Systems, Inc., Continental AG, Denso Corporation, OMRON Corporation, Bendix Commercial Vehicle Systems, Delphi Technologies, Magna International, Inc., AUDI AG, Auto Liv.
The report provides a detailed analysis of these key players of the global car night vision system market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the car night vision system market analysis from 2021 to 2031 to identify the prevailing car night vision system market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the car night vision system market outlook assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global car night vision system market trends, key players, market segments, application areas, car night vision system market forecast and market growth strategies.
Car Night Vision System Market Key Segments:
By Technology:
- Far Infrared (FIR)
- Near-Infrared (NIR)
By Component:
- Thermal Imaging Camera
- Night Vision Control Unit
- Sensor System
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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