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Automotive Night Vision System Market worth $6 Bn by 2028
- Published Date: April 6, 2022
Automotive Night Vision System Market size is set to cross USD 6 billion by 2028, according to a new research report by Global Market Insights Inc.
The automotive night vision system industry growth is attributed to the proliferation of automotive & automotive component manufacturers in APAC countries including China, India, and Japan. Various government initiatives are promoting automotive and related component manufacturing in the region to cater to the demand from the automotive sector without supply chain delays.
The high cost associated with the procurement of automotive night vision systems is hampering the market expansion. These technologies are mostly available in luxury and high-end premium vehicles, limiting their availability in economic passenger vehicles. This automotive night vision system incorporates various modern components, such as cameras, sensors, display units, and control units, which raises the system's overall cost. In addition, technical flaws and challenges with precise imaging will limit the industry growth during the forecast timeline.
Ongoing technological advancements in infrared imaging systems will spur the market value
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In China, active systems segment captured more than 40% of the automotive night vision system market share in 2021 owing to the devices employ an integrated infrared light source to offer precise vision in the dark. Several major car manufacturers including Mercedes-Benz, Lexus, BMW, and others are prominent providers of active night vision system-based vehicles. One significant advantage of these systems is that the infrared light bands fall outside the visible spectrum, preventing drivers from experiencing temporary blindness. As a result, infrared lights can detect objects that are far away from vehicles and will add lucrative opportunities for automotive night vision system providers.
Browse key industry insights spread across 220 pages with 279 market data tables and 19 figures & charts from the report, “Automotive Night Vision System Market Size By Product (Active Systems, Passive Systems), By Display (Head-up Display, Instrument Cluster, Navigation Display), By Component (Night Vision Camera, Sensors, Controlling Unit), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
Continuous innovations in vision & image sensing technology will augment the market progression
Sensor components in Germany automotive night vision system market is poised to expand at 14% CAGR till 2028. The growth is credited to several high-end features offered such as high sensitivity, broad dynamic range, LED flicker mitigation, and varied color imaging across different light conditions. These characteristics enable the driver to recognize the colors & shapes of objects in low-light conditions and allow the collection of high-quality data even when traveling at night with no lighting. Automakers are integrating vision sensors to support drivers and passenger safety on roads with autonomous driving technology.
Growing adoption of AI and cloud technologies in navigation display systems to propel the market demand
In U.S., navigation display segment is estimated to register growth of 5% during 2022 to 2028 on account of the rising demand for electric vehicles, widespread acceptance of wireless communication technology, and the availability of advanced network connectivity infrastructure. An automobile navigation display system is a component of the vehicle's electronics or a third-party add-on that helps drivers to find the exact route while driving. This system uses Global Positioning System (GPS) or data-based navigation to display the precise position and location of the vehicle. Several market companies are engaged in developing AI and cloud-integrated navigation technologies for application in the automotive sector.
Rising integration of advanced safety systems in vehicles across the Europe region to accelerate the market demand
Europe automotive night vision system market held more than 30% of revenue share in 2021 impelled by the stringent government rules across the globe are encouraging the integration of modern safety technologies into automobiles. For instance, in June 2020, the European Commission announced, ‘Vision Zero’, a new approach to EU road safety. The strategic plan also calls for major safety features, such as lane departure warning, automatic emergency braking, and drowsiness & attention detection, that are required in new vehicles by 2022. These features require advanced vision systems to operate in both daylight and dark/night environments, which will further stimulate the industry usage during the forecast timeframe.
Key players operating in the automotive night vision system market include Omron Corporation, Delphi Automotive, OmniVision Technologies Inc., and ZF Friedrichshafen. These leaders are constantly engaged in collaborating with car manufacturers and transport service providers to improve road safety, further supporting vendor growth.