January 04, 2021
According to the research report titled ‘Global Night Vision System (NVS) and Driver Monitoring System (DMS) Market Size study, by Type (Night vision system and Driver monitoring system), by Application (passenger and commercial vehicle) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global night vision system (NVS) and driver monitoring system (DMS) market is projected to amass notable returns during 2020-2027.
Increasing number of fatal accidents, alongside emphasis on driver/passenger safety are primarily driving the growth of global night vision system (NVS) and driver monitoring system (DMS) market. In addition, surging demand for premium vehicles is also contributing towards the overall market outlook.
Notably, night vision system (NVS) and driver monitoring system (DMS) are important elements of safety system of vehicle which aid to prevent road accidents, and improve driver perceptions.
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Despite the favorable scenario, hefty price of NVS and DMS is anticipated to impede the industry expansion over the assessment period. Moreover, the outbreak of COVID-19 pandemic has an adverse impact on worldwide night vision system and driver monitoring system market, due to lockdown imposed in several countries. Various measures taken by government to prevent the virus from spreading further, including the lockdown, have plunged the manufacturing of essential automobile parts and buckled the supply chain.
As per type, the market is categorized into driver monitoring system, and night vision system. With respect to application spectrum, the industry is split into commercial vehicle, and passenger vehicle.
Speaking of the geographical landscape, worldwide night vision system and driver monitoring system industry dynamics are defined by Asia Pacific, Europe, Latin America, North America, and Rest of the World. As per the report, North America presently leads the overall market share and is expected to grow substantially through 2027, creditable to surging demand premium class vehicles.
On the other hand, night vision system (NVS) and driver monitoring system (DMS) industry in Asia Pacific is poised to gain traction over the estimated timeframe, on account of growing production of automobiles, and rising cases of fatal incidents.
Major contenders in global night vision system (NVS) and driver monitoring system (DMS) market sphere are Denso Corporation, Magna International Inc., Visteon Corporation, Aisin Seiki Co. Ltd., Valeo S.A., Omron Corporation, Aptiv plc (formerly Delphi Automotive plc), Continental AG, Robert Bosch GmbH, and Autoliv Inc.