Global Night Vision System and Driver Monitoring System Market Segmentation, By Car Types (Passenger Cars, Heavy Commercial Vehicles, Light Commercial Vehicles, Others), Application (Passenger Vehicle, Commercial Vehicle) - Industry Trends and Forecast to 2031.
Night Vision System and Driver Monitoring System Market Analysis
Most of the road accidents every year are a result of poor light conditions on the road or non-attention of the driver. Passenger car manufacturers emphasize high-end new vehicles equipped with night vision system and driver monitoring system to combat the issue of road accidents.
Night Vision System and Driver Monitoring System Market Size
Global night vision system and driver monitoring system market size was valued at USD 4.37 billion in 2023 and is projected to reach USD 16.75 billion by 2031, with a CAGR of 18.30% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Night Vision System and Driver Monitoring System Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
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Key Market Players
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AISIN SEIKI Co. Ltd. (Japan), Valeo (France), Veoneer Inc. (Sweden), OMRON Corporation (Japan), Magna International Inc. (Canada), DENSO CORPORATION (Japan), ZF Friedrichshafen AG (Germany), Aptiv (Ireland), Robert Bosch GmbH (Germany), Continental AG (Germany), Autoliv Inc. (Sweden), and Visteon Corporation (US), among others
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Market Opportunities
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Global Night Vision System and Driver Monitoring System Market Definition
Night vision system as the name suggests enables the driver of the vehicles to look beyond the reach of the vehicle headlights, helping the drivers during night time or during adverse weather conditions. Driver Monitoring System tracks the attentiveness and awareness of the drivers through an infrared detector that tracks the driver's eye movements.
Night Vision System and Driver Monitoring System Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers:
- Road Safety
The rise in awareness regarding road safety among consumers is one of the major factors driving the growth of the night vision system and driver monitoring system market. Government of various regions are taking initiatives to decline the number of road accidents.
- High End Luxury Cars
The increase in the sales of high end luxury cars is accelerating the growth of the market. The surge in disposable income is escalating demand for high end luxury cars among population throughout the world.
- Rise in Transportation
The increase in the fleet size of the transportation and logistics companies making monitoring systems necessary for vehicle security and timely delivery further influence the market.
Additionally, surge in investments, increased disposable income and expansion of the automotive sector positively affect the night vision system and driver monitoring system market.
Opportunities
Furthermore, introduction of 5G technology into vehicle connectivity extends profitable opportunities to the market players in the forecast period of 2024 to 2031. Also, the rise in new customer segments across diverse industry verticals will further escalate the night vision system and driver monitoring system market growth.
Restraints/Challenges
On the other hand, high cost associated with the installation and failure of GPS and cellular-based trackers are expected to obstruct market growth. Also, lack of awareness among the consumer is projected to challenge the night vision system and driver monitoring system market in the forecast period of 2024-2031.
This night vision system and driver monitoring system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the night vision system and driver monitoring system market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
COVID-19 had a Major Impact on Night Vision System and Driver Monitoring System Market
COVID-19 had a negative impact on the global night vision system and driver monitoring system market due to the commute restrictions. The market faced various challenges, such as regulatory and policy changes, working capital management, supply chain execution and dependency on labor. However, organizations prepared strategic cost-saving plans to manage the impact of the pandemic. The demand for vehicle tracking hardware and managing software has increased to manage and cater to the continuous supply of essentials in the post pandemic scenario.
Night Vision System and Driver Monitoring System Market Scope
The night vision system and driver monitoring system market is segmented on the basis of car types and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Car Types
- Passenger Cars
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Others
Application
- Passenger Vehicle
- Commercial Vehicle
Night Vision System and Driver Monitoring System Market Regional Analysis
The night vision system and driver monitoring system market is analyzed and market size insights and trends are provided by country, car types and application.
The countries covered in the night vision system and driver monitoring system market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the night vision system and driver monitoring system market because of the rise in the concerns of vehicle emission, security, and safety within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2024 to 2031 due to the rapid expansion of the e-commerce sector and advancements in networking technologies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Night Vision System and Driver Monitoring System Market Share
The night vision system and driver monitoring system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to night vision system and driver monitoring system market.
Night Vision System and Driver Monitoring System Market Leaders Operating in the Market Are:
- AISIN SEIKI Co. Ltd. (Japan)
- Valeo (France)
- Veoneer Inc. (Sweden)
- OMRON Corporation (Japan)
- Magna International Inc. (Canada)
- DENSO CORPORATION (Japan)
- ZF Friedrichshafen AG (Germany)
- Aptiv (Ireland), Robert Bosch GmbH (Germany)
- Continental AG (Germany)
- Autoliv Inc. (Sweden)
- Visteon Corporation (US)
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