The alarming rise in crime rates around the world has created the need for advanced security systems. As a result of this, night vision cameras have gained significant prominence in recent years. These cameras enable clear visibility even in low-light or no-light conditions, thus enhancing security and surveillance. In automobiles, they are being deployed to improve visibility at night, for drivers. Now, with the growing demand for advanced driver assistance systems (ADAS), the sales of night vision cameras are further expected to boom. Additionally, due to the advancements in camera technology, night vision cameras are becoming more sophisticated, affordable, and compact. The growing awareness regarding home security systems is also amplifying the demand for night vision cameras. In near future, all these trends together are expected to improve the growth prospects across the global night vision camera market.
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Growing Expenditure in Military and Defence Sector to Accelerate Market Growth Trajectory
The rising terrorist activities, constant political unrest over border disputes, and growing safety concerns have forced governments around the world to strengthen and modernise their defence sector. This in turn has resulted in amplified demand for night vision devices (NVDs), propelling the adoption of night vision cameras. Such cameras aid military and defence organisations in combat activities such as surveillance, monitoring, and targeting purposes. Night patrolling is another military activity where night vision cameras have turned out to be of immense importance. During the study period, the global night vision camera market is expected to attain robust maturity on the back of rising government spending on military equipments.
Burgeoning Sales of PTZ due to its Advanced Features Augurs Well for Night Vision Camera Market
The growing sales of PTZ (Pan-Tilt-Zoom) cameras are providing major impetus to the market growth. The rising demand for surveillance cameras has led to the increased adoption of PTZ cameras. Moreover, PTZ cameras have numerous advanced features such as high-resolution imaging and optical zoom. Additionally, they offer a wide range of coverage, enabling users to monitor large areas without employing large numbers of cameras. As a result of these notable factors, the global night vision camera market is projected to reach unprecedented levels of growth in the upcoming years. Moreover, manufacturers may need to adapt to this trend in order to remain competitive.
North America to Sustain Market Lead due to Growing Adoption of Night Vision Cameras in Automotive Sector
North America is projected to take the lead in the global night vision camera market over the forecasted period. This is majorly attributed to increase in demand for night vision cameras across military sectors’ in the region. For instance, the U.S. defence forces deploy night vision and surveillance system applications in armoured and airborne vehicles. Furthermore, according to the National Highway Traffic Safety Administration, over 50% of traffic fatalities take place at night in the US. This in turn creates the need for night vision devices, increasing demand for night vision cameras in North America.
Leading Market Players
Some of the major players in the night vision camera market include Canon, Inc, Bosch Security Systems, Inc, Hangzhou Hikvision Digital Technology Co. Ltd, Panasonic Corporation, Honeywell International, Inc, Pelco, Sony Corporation, Dahua Technology Co., Ltd., Cisco Systems, Intevac, Inc., Samsung, and Photonis.
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