The night vision devices global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Night Vision Devices Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The night vision devices market size has grown strongly in recent years. It will grow from $8.02 billion in 2023 to $8.8 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to adoption in recreational and outdoor activities, innovations in image quality, cost reduction and commercialization, development of compact devices, rise in law enforcement usage..
The night vision devices market size is expected to see strong growth in the next few years. It will grow to $12.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to integration of ai and machine learning, shift towards energy-efficient solutions, focus on lightweight and ergonomic designs, increasing demand for digital night vision, enhancements in range and detection capabilities.. Major trends in the forecast period include miniaturization and portability, advancements in image quality, integration of thermal imaging, enhanced connectivity features, rise in digital night vision..
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
Rising military and defense sectors are expected to propel the growth of the night vision devices market going forward. The military sector encompasses organizations and activities related to the armed forces and national defense, while the defense sector specifically refers to industries and companies involved in producing military equipment and technology. Night vision devices in the military and defense sectors enhance nighttime visibility, aiding in covert operations, surveillance, and target acquisition while ensuring operational effectiveness in low-light conditions. For instance, in April 2023, according to the Stockholm International Peace Research Institute, a Sweden-based independent international institute dedicated to research into conflict, armaments, arms control, and disarmament, total global military expenditure increased by 3.7% in real terms in 2022 to a record high of $2,240 billion. In 2022, Russian military spending is projected to increase by 9.2%, or $86.4 billion. Moreover, the overall military expenditure in Asia and Oceania was $575 billion, an increase of 2.7% compared to 2021. Therefore, the rising military and defense sectors will drive the growth of the night vision devices market.
Market Trends –
Major companies operating in the night vision device market are focused on developing true-color night vision devices, such as KAWA T6 security cameras to gain a competitive edge in the market. KAWA T6 are true-color night vision Security camera devices that can capture and display full-color imagery in low-light or nighttime conditions without additional illumination sources. For instance, in June 2023, KAWA Electronics Company Limited, a China-based smart technology and electronic audio and video manufacturing company providing night vision devices, launched the KAWA T6 and KAWA T6 Pro security cameras that offer innovative features, including true full-color night vision. The camera’s performance is improved by adding a 1/1.79” stacked CMOS (complementary metal oxide semiconductor) sensor, which enables them to record outstanding 4MP super HD resolution images with incredible clarity. The KAWA T6 and T6 Pro boast AI (artificial intelligence) technology that can detect motion and which human is moving, making them more accurate and reliable.
The night vision devices market covered in this report is segmented –
1) By Device: Goggles, Monocular And Binoculars, Camera, Glasses, Scopes, Other Devices
2) By Technology: Thermal Imaging, Image Intensifier, Infrared Illumination, Other Technologies
3) By Application: Military And Defense, Wildlife Spotting And Conservation, Surveillance, Targeting, Navigation, Other Applications
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Regional Insights –
North America was the largest region in the night vision devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the night vision devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the night vision devices market report are RTX Corporation, BAE Systems PLC, Sharp Corporation, Safran Vectronix AG, Thales Group SA, Leonardo S.p.A., Elbit Systems Ltd., Teledyne Technologies Incorporated, Vista Outdoor Inc., Aselsan A.Ş., Excelitas Technologies Corp., Zhejiang Dali Technology Co. Ltd., Sellmark Corporation, B.E. Meyers & Co., Kopin Corporation, Meopta – optika s.r.o., American Technologies Network Corp., Newcon International Ltd., Steiner Optics GmbH, Adams Industries Inc., Opgal Optronic Industries Ltd., Nivisys LLC, Bering Optics LLC, Luna Optics Inc., N-Vision Optics LLC, Tactical Night Vision Company, Yukon Advanced Optics Worldwide, American Holoptics Inc., Tak Technologies Private Limited, Xenonics Holdings Inc.
Table of Contents
1. Executive Summary
2. Night Vision Devices Market Report Structure
3. Night Vision Devices Market Trends And Strategies
4. Night Vision Devices Market – Macro Economic Scenario
5. Night Vision Devices Market Size And Growth
…..
27. Night Vision Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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