According to a new market research report published by Credence Research “Automotive Night Vision Systems Market (Vehicle Class – Commercial Vehicles and Passenger Cars, Technology – Active Automotive NVS, Passive Automotive NVS) – Growth, Future Prospects and Competitive Analysis, 2018—2026”, the global night vision system market is set to expand with a double digit CAGR throughout the forecast period to reach US$ 4,680.0 Mn by 2026.
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Night vision systems find major acceptance in the automotive industry, given the increasing demand for Advanced Driver Assistance Systems (ADAS) worldwide. Among all advanced driver assistance systems, the night vision system has witnessed a significant demand for ADAS on the global market. The invention of the night vision system is expected to revolutionize road transport worldwide. These systems are further promising improved road safety with increased adoption and technological advancement in the automotive industry. This system offers greater freedom of movement for cars, thereby reducing the occurrence of road accidents by minimizing human error.
Automotive night vision system is an innovative safety vision device that improves driver visibility in poor weather conditions, darkness and beyond the scope of vehicle headlights. The NVS system generates a picture of an object using the light or radio waves generated by the system. Technological advancements in the automotive industry and growing road safety issues further ensure the growth of the NVS automotive market in the coming years. In addition, the increase in demand for the integration of electronic safety systems between budget and compact cars is expected to drive the market for night vision systems during the forecast period from 2018 to 2026.
In recent years, Automotive NVS has witnessed a significant adoption by luxury passenger cars. The high cost of the NVS system has been described as one of the major factors restricting its adoption among luxury cars. The global luxury car demand has increased by USD 560 billion in 2017 and is expected to grow by 6% year-on-year during the forecast period.
Automotive NVS market segmented by technology into active NVS and passive NVS systems. With a high detection range and accuracy, the passive NVS system accounted for a larger share of the overall automotive NVS market. The Passive NVS system involves thermal camera mounted on the grid along with the Radio Detection and Ranging (RADAR) technology. RADAR enables the passive NVS segment to see significant growth in the coming years, given the increasing demand for long-range detection. On the other hand, infrared signals coupled with LIDAR technology restrict the detection range and accuracy of the active automotive NVS segment, which is therefore estimated to have a lower share of the overall automotive NVS market.
Some of the major players profiled in the report include Continental AG, Robert Bosch GmbH, Delphi Automotive PLC, ZF Friedrichshafen AG, Autoliv, Inc., Omron Corporation, Denso Corporation, TRW Automotive, Inc., L-3 Communications Holdings, OmniVision Technologies, Inc., Magna International, Inc., FLIR Systems, Inc., Ford Motor Company and others.