Car Night Vision System Market Expected to Reach $9.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Car Night Vision System Market," The car night vision system market was valued at $3.4 billion in 2021, and is estimated to reach $9.5 billion by 2031, growing at a CAGR of 11% from 2022 to 2031.

Growing awareness among mass in road safety issues and growing penetration of luxury cars in the developing regions are the factors that drive the market. However, the car night vision system market analysis shows that high investment issues regarding the manufacturing and maintenance of the products related to car night vision system hampers the car night vision system market growth. Conversely, advancements in 3D car night vision system is expected to create lucrative market opportunity.  According to the recent car night vision system market trends, demand for automotive night vision and on lanmodo night vision is experiencing significant growth in the automotive sector.

By technology, the market is fragmented into far infrared (FIR) and near infrared (NIR). The far infrared (FIR) segment was the highest revenue contributor to the car night vision system market size in 2021, and  is expected to grow at a steady ratein the forecasted period

On the basis of component, the car night vision system industry is segregated into thermal imaging camera, night vision control unit and sensor system. The thermal imaging camera segment dominated the car night vision system market share in 2021, and is anticipated to follow the same trend from 2022 to 2031.

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific holds the major share of the market in 2021, and is expected to grow at a CAGR of 11.68%.

KEY FINDINGS OF THE STUDY

• In 2021, the far infrared (FIR) segment accounted for maximum revenue, and is projected to grow at a notable CAGR of 10.42% during the forecast period.
• The thermal imaging camera and night vision control unit segments together for around 74.9% measurement and test equipment market share in 2021.
• Asia-Pacific contributed for the major share in the car night vision system market, accounting for more than 41.8% share in 2020.

Key players profiled in the report include Audi AG, Denso Corporation, Delphi Technologies (BorgWarner Inc.), Robert Bosch GmbH, Bendix Commercial Vehicle System, Continental AG, FLIR Systems, Inc. (Teledyne FLIR LLC), OMRON Corporation, AutoLiv and Magna International Inc. Market players have adopted various strategies, such as product launch, collaboration& partnership, joint venture, and acquisition to expand their foothold in the car night vision system market.