Night Vision System Market Analysis

The night vision system (NVS) market is segmented and analyzed for demand and supply by vehicle type into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. Out of these segments, the passenger vehicle segment is anticipated to garner the largest revenue share of 37% by the end of 2036, growing at a CAGR of 14.65% over the forecast period. Further, the segment generated revenue of USD 1,964.6 Million in the year 2021. To combat the issue of road accidents manufacturers equipped night vision in the passenger vehicle. Owing to which there is huge demand for passenger vehicle which is estimated to boost the night vision system (NVS) market further. The OICA estimates that the global sales of passenger vehicles were 5,63,98,471 in 2021 and are anticipated to increase rapidly.

Our in-depth analysis of the global market includes the following segments:

By Vehicle Type	Passenger Vehicle Light Commercial Vehicle Heavy Commercial Vehicle
By Technology	Ultra Sonic Sensor Lidar Sensor Radar Sensor Camera Sensor Infrared Sensor Pressure Sensor
By Sales Channel	OEM Aftermarket

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are rise in adoption of luxury vehicle, growing awareness regarding road safety, increase in R&D for development of new product, and others.

The market is anticipated to attain a CAGR of 14.17% over the forecast period, i.e., 2022 â€“ 2031.

High cost of night vision system, not suitable in too much darkness, and the road needs to clear from fog or obstacles are some of the major factors expected to hinder the growth of the market.

The market in Asia Pacific is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.

The major players in the market are Veoneer HoldCo, LLC., Aptiv, Continental AG, Robert Bosch GmbH, Valeo, Magna International Inc., and more.

Night Vision System Market Analysis