“Night Vision Technologies market set to grow to $18.2bn by 2028” says new Visiongain report
01 November 2018
Visiongain has launched a new energy report Night Vision Technologies Market Forecasts 2018-2028: Forecasts by Products (Goggles, Cameras, Scopes, and Others), by Application (Automotive, Military applications, Residential and Industrial Security applications, and Others), Covering Regions, Global Market and National Markets.
Growing safety concerns among the population and increasing awareness about the night vision technologies among the consumers are the most important factors promoting the growth of night vision technologies market. However, cost effectiveness of the night vision devices increasing the adoption of night vision technology which is expected to enhance the profitability of this market worldwide. Globally, the use of Night vision technologies across numerous application industries has increased significantly on the backdrop of growing safety concerns and government regulations pertaining to use of Night vision technologies. The global Night vision technologies market is expected to grow substantially due to increased usage of night vision technologies based products such as electronic appliances, construction and building materials among others.
The factors shaping the demand for Night vision technologies are grouped as demand side factors and supply side factors. The supply side factors include the factors that affect the supply of raw materials or chemicals that are used as or for the manufacturing of Night vision technologies.
The Visiongain report analyst commented "Growing number of military operations in the night times has resulted in significant growth in the demand for night vision devices significantly over the past few years. Moreover substantial rise in threats of burglary and robbery has increased demand for night vision technologies in the household and residential segments significantly over the past couple of years. The demand for night vision technologies is likely to increase over the next few years from the household and industrial segments at a rapid pace over the period of 2018. This would be primarily backed by increasing level of awareness and growing per capita disposable income. Further, the application of night vision technologies in the automotive segment is likely to drive the market over the forecast period. Both passenger vehicles and commercial vehicles are now enabled with night vision technologies in order to assist the drivers to drive through the nights and dark. It is expected to minimize the risk of accidents and several governments across the world are likely to promote the use of night vision technologies in the automobiles over the years to come."
Leading companies featured in the report who are developing Night Vision Technologies include Autoliv Inc, Bosch, Continental AG, Armasight, BAE Systems, L3 technologies, American technologies, Harris Corporation, Meopta and Newcon Optik.
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