Automotive Night Vision System Market Size (2024 - 2029)

Automotive Night Vision System Market Analysis

The Automotive night vision system market was valued at USD 3.33 Billion in 2021 and is expected to grow to USD 6.23 Billion by 2027, registering a CAGR of over 11% during the forecast period (2022-2027).

The Covid-19 pandemic had a negative impact on the market. With low vehicle sales reported In 2020, the significant market potential for night vision systems was shallow. Also, with significantly less or almost zero vehicular movements, the aftermarket sector of the industry did not register many sales. However, with the expected increase in sales of passenger vehicles and increased awareness of safety in both passenger and commercial vehicles, the market is looking forward to reviving and growing economically back to pre-covid conditions.

Over the medium-term growing public awareness of road safety, increased sales of luxury cars, and the inclination of automobile manufacturers to develop more advanced technologies to prevent accidents (due to the enactment of stringent regulations by governments and safety organizations) are likely to support demand in the market.

Though night vision systems (NVSs) are currently available only for luxury cars, they are expected to be available in the mass mid-car segments by the end of 2023. However, the high prices of night vision systems pose a significant threat, as the technologies used in systems, like sensors and display units, are expensive.

Europe is the largest Automotive Night Vision System Market Despite the Chinese market experiencing sluggish growth, the world's largest automobile market. On the other hand, Asia-Pacific is expected to grow significantly attributed to the proliferation of automotive & automotive component manufacturers in APAC countries, including China, India, and Japan.

Automotive Night Vision System Industry Segmentation

An automotive night vision system uses a thermographic camera to increase a driver's perception and see the distance in darkness or poor weather beyond the reach of the vehicle's headlights. The report also covers the market size and forecast for the automotive night vision system market across the regions mentioned.

The Automotive night vision system market has been segmented by technology, display, component, and geography. The market has been segmented by technology type into far infrared (FIR) and near-infrared (NIR). The market has been segmented by display type into navigation systems, instrument clusters, and HUD.

The market has been segmented by component type into night vision cameras, a controlling units, display units, sensors, and other components. By geography, the market has been segmented into North America, Europe, Asia-pacific, and the rest of the world. For each segment, the market sizing and forecast have been done on the basis of value (USD billion).