The global night vision system and driver monitoring system market is expected to be driven by the heightened safety awareness and increasing demand for luxury cars. Also knows as active safety systems, night vision system (NVS) and driver monitoring system (DMS) play an important role in mitigating road accidents. NVS enables the driver to view the path that is beyond the car headlight’s reach. Thus, it enables to view clearly during bad weather conditions or at night. DMS monitor the driver’s attentiveness by tracking their eye movements using an infrared detector. The system warns the driver with the help of warning sounds or flashing lights or applies automatic brakes if the driver fails to do so in accidental situations.
Need for safety and rise in sales of high end luxury cars are the key drivers for the NVS and DMS market. However, high cost of the system may restraint market growth. New product development is expected to serve as a growth opportunity for the market over the next six years. The New Car Assessment Program (NCAP), an institution that awards safety ratings to cars, is expected to positively impact the market growth.
Automotive industry has witnessed a sharp growth in recent years; however, the numbers of road accidents have also increased significantly. Government and consumers are looking for ways to mitigate this problem. Thus, the demand for automotive safety systems is on the rise. These systems encompass electronic stability control, anti-lock braking systems, night driving assistance system and driver monitoring system among others. Companies are investing heavily in R&D activities to come up with solutions for automotive safety.
The global NVS and DMS market can be segmented on the basis of car type as passenger cars, light commercial vehicles and heavy commercial vehicles. North America and Europe have well-established night vision system and driver monitoring system market owing to the high penetration rate of premium cars. Asia Pacific market is expected to witness high growth due to the rise in disposable income in the region. Key players in the market include Aisin Seiki Co., Ltd., Valeo S.A., Omron Corporation, Magna International Inc., Denso Corporation, TRW Automotive, Delphi Automotive PLC, Robert Bosch GmbH, Continental AG, Autoliv, Inc., and Visteon Corporation.
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The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.