Automotive Night Vision System Market Set To Touch $9.5 billion By 2030: Players Audi AG, Autoliv Inc

As per the report published by The Brainy Insights, the global automotive night vision system market is expected to grow from USD 3.8 billion in 2021 to USD 9.5 billion by 2030, at a CAGR of 10.8% during the forecast period 2022-2030. The Asia Pacific emerged as the largest market for the global automotive night vision system market, with a 41% share of the market revenue in 2021. The Asia Pacific currently dominates the automotive night vision system market due to prominent automotive manufacturers in the Asia Pacific countries like Japan, China, and India. Asia Pacific region holds the largest population and is one the fastest growing economies in the world which propel the growth of the market in the region.

𝐆𝐫𝐚𝐛 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭- https://www.thebrainyinsights.com/enquiry/sample-request/12790

Global Automotive Night Vision System Market Size By Technology Type (Far Infrared (FIR), Near Infrared (NIR)), By Display Type (Instrument Cluster, Navigation System, and HUD), By Component Type (Night Vision Camera, Sensor, Display Unit, Controlling Unit, and Other Components), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Audi AG, Autoliv Inc, Bendix Commercial Vehicles Systems, Continental AG, Daimler AG, Delphi Automotive Plc., DENSO CORPORATION, FLIR Systems, Inc., Omron Corporation, and Robert Bosch GmbH, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The technology type segment is divided into Far Infrared (FIR) and Near Infrared (NIR). The far infrared (FIR) segment dominated the market with a market share of around 58% in 2021. Far Infrared provides accurate and clear images to the driver in bad weather conditions and low light, which drives the market's growth. The display type segment is divided into instrument cluster, navigation system, and HUD. Over the forecast period, the HUD segment is expected to grow at the fastest CAGR of 11.5%. HUD night vision systems are high in demand as they prevent the driver's distraction by looking away for information. The component type segment is divided into night vision camera, sensor, display unit, controlling unit, and other components. The sensor segment dominated the market, accounting for around 1.2 billion global revenue. Sensors are widely used for detecting objects and vehicles in no light, and bad weather conditions drive the segment's growth.

The increasing demand for car safety features to prevent accidents in bad weather and no light conditions drives the segment's growth. The rise in purchasing power of the consumers also propels the market's growth. Further, the automotive industry's technological advancement is anticipated to add impetus to the market during the forecast period. However, the outbreak of the Covid-19 pandemic affected the market's growth as several manufacturing units were put on hold, and there was a shortage of labor because of the lockdown restrictions imposed, which disrupted the supply chain of the automotive night vision system, restraining the growth of the market.

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