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Night Vision System (NVS) and Driver Monitoring System (DMS) Market to Reflect Impressive Growth Rate During 2015 to 2021
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The developed countries have comparatively greater number of premium and luxury passenger cars as compared to the developing country, due to which they have large market for night vision system and driver monitoring system. However, with the growing demand for luxury cars in the developing countries, the demand for night vision system and driver monitoring system is increasing. Night vision system had a larger market share as compared to the driver monitoring system. High price is major restraint for the night vision system and driver monitoring system market; however the increasing global per capita income is reducing its impact.
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The increasing demand for luxury cars and safety awareness are the key market drivers for advanced night vision system and driver monitoring system market. The New Car Assessment Program (NCAP) is a government car safety program which is being implemented in every important country around the globe to evaluate new automobile designs for performance against various safety threats. The program gives rating to the passenger cars based on the safety level offered by them. The increasing number of countries implementing NCAP is presenting growth opportunities for the global night vision system and driver monitoring system. The U.S. Department of Transportation assesses its vehicle safety programs which is making the safety rules for vehicle manufacturers more stringent. Bharat New Vehicle Safety Assessment Program, a safety assessment program based on NCAP model is expected to be implemented in India by the end of 2014.
Among regions, Europe dominated the global night vision system and driver monitoring system market, followed by North America. The European night vision system and driver monitoring system market is facing challenges due to weak economic conditions, however it is retaining its growth on account of improving economy and regaining of customer confidence. The major companies operating in night vision system and driver monitoring system market are Robert Bosch GmbH, Continental AG, Autoliv Inc., Delphi Automotive PLC, Denso Corporation, Omron Corporation and Magna Electronics.
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