Increasing Focus on Driver Safety to ensure Positive Growth in Automotive Night Vision Systems Market

Global Automotive Night Vision Systems (NVS) market was valued US$ 1,344.7 Mn in 2017 and set grow at CAGR of 15.0% throughout the forecast period from 2018 to 2026. Growing public awareness towards road safety reported as one of the prominent factors influencing global market for automotive night vision systems. Increasing rate of road accidents at night, due to increasing traffic and poor visibility, creating need for automotive night vision systems, worldwide. Growing awareness towards road safety has increased government and consumers concern regarding the safety of passengers and pedestrians. As a result of this, key players in automotive industry are manufacturing their vehicles with integrated advanced driver assistance systems, such as NVS, to offer effective driving experience. Government initiatives towards road safety has further contributed with high share in overall automotive NVS market growth. For instance, New Car Assistance Program initiated by European government has imposed stringent regulations on car manufacturers to integrate advanced driver assistance systems such as night vision system. This resulted in tremendous increase in the demand for night vision systems to provide road safety along with vehicle security.

Passive Automotive NVS Segment to Lead Overall Automotive Night Vision Systems Market throughout the Forecast Period

Global automotive night vision systems market was dominated by passive automotive NVS segment with share of 67.5% in 2017.  Passive automotive NVS involves thermal camera coupled with RADAR Technology. Radio Detection and Ranging (RADAR) offers long detection range and works on temperature difference of objects. Thermal camera gives value addition to the conventional infrared based NVS systems with its unique strength of detection and classification of humans and other living things in cluttered driving environment. Increasing demand for long detection range among automotive industry fueling overall market for automotive night vision systems. On the other hand, active automotive NVS system, offers lower detection range, thus accounted for lesser share in global automotive NVS market. 

Europe Dominates Automotive NVS Market with more than 40% Market Share; North America to Emerge as the Next Promising Market

Europe dominated automotive NVS market, followed by North America and Asia Pacific. Factors such as increasing disposable income, increasing demand for luxury as well as premium cars, government regulations regarding integration of advanced driver assistance systems are contributing in overall automotive NVS market expansion in this region. Presence of key automotive NVS market vendors including TRW Automotive, Inc., Omron Corporation, L-3 Communications Holdings, Denso Corporation, Omni Vision Technologies, Inc. further allows Europe to retain its market position. Improving automotive industry in terms of technological developments and increased production causing North America to report as next promising market for automotive night vision systems.

Product Development in terms of Integration of Newer Technologies remains Key Strategy

Automotive NVS market vendors are focusing more on product innovation in terms of addition of features such as thermal camera and 3D image processing among others in existing systems for driver assistance. Automotive NVS market players are focusing more on integration of newer technologies in existing systems. With increasing R&D investments in automotive industry, NVS undergoing innovation; thus expected to register huge growth in global market in coming years. For instance, in October 2017, Ford Motor Company launched its all new “Pedestrian Detection”, designed for pre-collision assistance to the driver. This addition in existing system utilizes RADAR and camera technology to scan the roadway to prevent road accidents by generating alert/ warning to the driver. If system find ignorance toward warning, it takes full control over breaking system to avoid accidents.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Night Vision Systems market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Automotive Night Vision Systems market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Automotive Night Vision Systems market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Automotive Night Vision Systems market?
• Which is the largest regional market for Automotive Night Vision Systems market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Automotive Night Vision Systems market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Night Vision Systems market worldwide?