The Automotive Night Vision System Global Market Report 2023 by The Business Research Company, provides automotive night vision system market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Automotive Night Vision System Global Market Report 2023, the global automotive night vision system market size is expected to grow from $3.06 billion in 2022 to $3.47 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global automotive night vision system market size is expected to reach $5.44 billion in 2027 at a CAGR of 11.9%.
The rising demand for advanced in-vehicle safety is expected to boost the automotive night vision system market going forward. Advanced In-Vehicle Safety refers to the advanced technologies and systems designed to enhance the safety of passengers and drivers in vehicles. The demand is rising due to increasing safety concerns, regulatory requirements, and consumer demand. Consumers are becoming more aware of the benefits of advanced safety features such as the automotive night vision system (ANVS).
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The automotive night vision system market is segmented:
1) By Component Type: Night Vision Camera, Sensor, Display Unit, Controlling Unit, Other Components
2) By Technology: Far Infrared (FIR), Near-Infrared (NIR)
3) By Display Type: Instrument Cluster, Navigation System, Heads-Up Display (HUD)
4) By Application: Original Equipment Manufacturers (OEMs), Aftermarket
Technological advancements are a key trend gaining popularity in the automotive night vision system market. Major companies operating in the automotive night vision systems are focused on developing new technologies to reinforce their position in the market. For instance, in November 2022, Kyocera Corporation, a Japan-based electronics company, developed and launched an automotive night vision system with white and near-infrared light diodes integrated into a single GaN laser device that can accurately identify collision-risk objects in low-visibility driving conditions, such as at night or in the rain, snow, fog, or smoke. It is the first headlight to emit both white (RGB) and near-infrared (NIR) light on the same optical axis, allowing for greater object recognition precision than other technologies. The system incorporates RGB-NIR sensors in addition to Kyocera’s proprietary “Image-Fusion AI Recognition Technology” for high-performance object identification.
The automotive night vision system market report table of contents includes:
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