Night vision camera market is flourishing because of an increasing need for advanced surveillance technology, high adoption of automotive night vision, and increasing public awareness about road safety.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expectsGlobal night vision camera market size to grow at an impressive CAGR of 16.8% during the forecast period between 2023 and 2029. Major factors for the expansion of global night vision camera market include an increasing adoption of network cameras in commercial and residential areas and increased investments in R&D by manufactures. A growing demand for improved surveillance technology as it is intended to help security professionals by delivering reliable real-time alerts during the night. Infrared or thermal cameras, which produce black and white images, are employed at night and in poorly lit regions. PTZ (Pan-tilt-zoom) cameras are commonly utilized for security applications because they are remote directional and have zoom control. Therefore, it is expected to boost the overall market expansion. Due to increasing public awareness about road safety and higher sales of luxury vehicles, automotive night vision applications are driving the industry. Many traffic accidents occur at night when visibility is reduced. To reduce future accidents, major automotive manufacturers such as BMW, Mercedes, and Audi have added night vision cameras with animal recognition and pedestrian marker lighting characteristics; such factor is expected to further fuel the expansion of global night vision camera market during the period in analysis. However, targeting through transparent obstacles, high cost, and lack of public awareness are anticipated to restrain the overall market growth.
Global Night Vision Camera Market – Overview
A night vision device is an electro-optical device that detects and displays visible and infrared energy. This technology allows users to see in complete darkness and improves their vision in low-light situations. Night vision goggles, forward-looking infrared, thermal sights, and low-light-level television are all examples of night vision technologies. These devices can be used for a variety of purposes, including night driving or flying, night security and surveillance, wildlife observation, sleep lab monitoring, and search and rescue. Night vision equipment are usually employed in the military, although they can also be used for fun. Furthermore, night vision devices are also known as night optical/observation devices (NOD) and night-vision goggles (NVG). These devices were first utilized in World War II by the German Army.
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Global Night Vision Camera Market – By Product Type
Based on product type, global night vision camera market is bifurcated into Wired Night Vision Cameras and Wireless Night Vision Cameras segments. The wireless night vision cameras segment is expected to dominate the market due to their ease of installation and direct connection to existing networks; these are viewable through computer or any other internet compatible device.
Impact of COVID-19 on Global Night Vision Camera Market
COVID-19 had detrimental impact not only on the operations of the night vision camera sector, but also on the companies of other consumer electronics companies. Lockdown measures dampened demand for consumer electronics, affecting the night vision camera business globally. The continuous decline in global demand and export shipments is expected to impair the night vision binoculars industry. The consumer electronics supply chain is mostly located in China. Because many key consumer electronics device OEMs and component OEMs have manufacturing facilities in China, the closure of manufacturing facilities in China had a substantial impact on the whole consumer electronics industry ecosystem.
Competitive Landscape
Global night vision camera market is fiercely competitive. Prominent players in the market include Canon, Inc., Bosch Security Systems, Inc., Honeywell International, Inc., Cisco Systems, Intevac Inc., Photonis, Elbit Systems Ltd, Rockwell Collins Inc., FLIR Systems Inc., Panasonic Corporation, BAE Systems PLC, TAK Technologies Private Limited, Harris Corporation, Tactical Night Vision Company Inc., General Dynamics Global Imaging Technologies Inc., Nivisys LLC, Sony Corporation, and Sharp Corporation. To further enhance their market share, these players are primarily focused on the development of innovative and efficient products, new product releases, market initiatives, mergers and acquisitions, and other collaborative activities.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Night Vision Camera Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Night Vision Camera Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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