Night Vision System and Driver Monitoring System Market Size 2023-2030 Global Industrial Analysis, Market Share, Top Key Players

Night Vision System and Driver Monitoring System Market

The global Night Vision System and Driver Monitoring System Market size was worth around USD 3610.75 Million in 2022 and is predicted to grow to around USD 12347.58 Millionby 2030 with a compound annual growth rate (CAGR) of roughly 16.75% between 2023 and 2030.

The car manufacturers and the consumers are considering the active safety systems very important in the passenger cars for preventing the increasing number of accidents. The night vision system and the driver monitoring system are considered as one of the active safety systems. They are made in such a way that they respond to situations wherein there are chances of accidents. These systems are mainly installed in the luxury or premium cars. The night vision system helps the drivers to view the roads beyond the car headlights and the driver monitoring system helps in assisting the driver and in keeping the driver alert from the accidents.

Night Vision System and Driver Monitori Market

Global Night Vision System and Driver Monitoring System Market: Segmentation

The global night vision system and driver monitoring system is segmented into the car type and regions. On the basis of the car type, the global market is segregated into passenger cars, heavy commercial vehicles, light commercial vehicles and others. Based on the regions, the global night vision system and driver monitoring system market is diversified into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.

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Global Night Vision System and Driver Monitoring System Market: Growth Factors

The factors that are driving the global night vision system and driver monitoring system are the growing safety awareness and the increasing demand for the luxury cars. The number of road accidents will decrease at a tremendous rate by the application of these systems. The night vision system helps the driver to view the roads further as compared to the car headlights. The night vision system works in both bad weather conditions and at night time with good clarity. The driving monitoring system helps in monitoring the alertness of the driver by tracking the movement of the eyes using the infrared detector. The system is highly advanced as it warns the driver by making alarms or by flashing the lights or by automatically applying the brakes in case of accidental situations.

In the recent years, to gain the customer satisfaction and their safety, the luxury car manufacturers have started installing the night vision system and driver management system. The automotive industry has grown tremendously and so has the number of road accidents. Thus, the government has imposed strict rules and regulations for the safety and security purpose. These factors are having a positive impact on the global night vision system and driver monitoring system market. The features that are included in the safety systems are electronic stability control, night driving assistance system, anti-lock braking systems and the driver monitoring system. The restraining factor that is hampering the market growth is the high cost of the automotive that encompasses these safety systems.

Global Night Vision System and Driver Monitoring System Market: Regional Analysis

All the regions are contributing a good share in the market growth. The developing countries such as Thailand, China, and India in the Asia-Pacific region are driving the night vision system and driver monitoring system market. The factors such as an increase in the demand for the luxury cars are accelerating the night vision system and driver monitoring system market. Europe is also a major market player as it consists of many automotive safety system manufacturers. The countries such as Mexico, Canada, the U.S., Brazil and others are giving a huge share in the market growth. The factor owing to which the market is growing is the rising awareness of the people regarding the safe systems.

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Global Night Vision System and Driver Monitoring System Market: Competitive Players