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Automotive Night Vision System Market: Robust Growth, Rising Demand, Key Players, and Future Trends
Automotive Night Vision System Market
What Is The Projected Market Size Of The Global Automotive Night Vision System Market And Its Growth Rate?
• The global automotive night vision system market was worth $3.84 billion in 2024
• It is expected to grow to $4.3 billion in 2025 at a compound annual growth rate (CAGR) of 12.1%
• The market saw significant growth due to safety regulations and standards, consumer awareness and demand for safety, rising incidence of nighttime accidents, luxury vehicle segment demand, increased traffic and urbanization
What Is Driving The Growth In The Automotive Night Vision System Market?
The escalating demand for advanced in-vehicle safety features is a prime driver for the growth of the automotive night vision system market. These systems use infrared technology to enhance visibility in low-light conditions, playing a critical role in preventing accidents during nighttime driving. For example, in 2023, according to the Transport Accident Commission, an Australia-based government agency, there was a significant increase in road accident fatalities and crashes compared to the previous year. As such, increasing road accidents are propelling the growth of this market.
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Who Are the Key Players Driving Automotive Night Vision System Market Growth?
• Rising number of road accidents globally, emphasizing the need for advanced safety features in vehicles
• Automotive night vision systems, leveraging infrared technology to enhance visibility during low-light conditions, have a crucial role in accident prevention
• For instance, in 2023, the Transport Accident Commission reported a marked increase in road fatalities and fatal crashes, pushing the demand for such safety systems
What Are The Key Trends In The Automotive Night Vision System Market?
• Development of night vision systems using white and near-infrared light diodes is a trending innovation
• Market trends are driven by safety regulations and standards, growing consumer awareness and demand for safety, rising nighttime accidents, luxury vehicle segment demand, increased traffic and urbanization
What Are The Segments Of The Global Automotive Night Vision System Market?
• Night Vision Camera
• Sensor
• Display Unit
• Controlling Unit
• Other Components
Which Region Leads The Automotive Night Vision System Market?
In June 2023, Magna International, a Canada-based manufacturing company, acquired Veoneer US Safety Systems LLC to establish its presence as a prominent supplier handling the complexities of advanced software, systems, and integration. Through this acquisition, it aims to offer a complete suite of solutions to customers. Veoneer US Safety Systems LLC, a US-based firm, focuses on improving vehicle safety through innovative technologies, including automotive night vision systems.
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What Is Covered In The Automotive Night Vision System Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Night Vision System Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Night Vision System Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Night Vision System Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Night Vision System Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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