What Is the Size of Global Night Vision Device Industry?
Global Night Vision Device market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Night Vision Device market is witnessing robust growth to the rising spending by the governments on their military modernization, emerging technologies in the night vision devices, and the growing range of applications of these products in civil and defense-related security among other. The rising cases of terrorist attacks globally every year are making governments focus and spend more on their security services to protect their citizens from such attacks which is one of the major factors propelling the Night Vision Device market growth.
The availability of a variety of night vision devices such as riflescopes, goggles, cameras, and binoculars & monocular are providing the potential customers to purchase a product of their own choices based on their requirements which are driving the market as the companies are trying to offer products to cater to the demands of the end users.
The Covid-19 pandemic had a positive influence on the growth of the market for night vision devices as it helped authorities monitor the citizens and the situation in a better way. For example, the United States Defense Department used thermal imaging techniques to check the elevated body temperatures of a person entering its military facilities to detect Covid-19 while allowing a safe distance between the operator and the individual.
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Global Night Vision Device market by Devices
The Global Night Vision Device Market is segmented by Devices on the basis of goggles, monocular & binoculars, camera, glasses, scopes and others. Goggles segment holds the largest share of the Global Night Vision Device Market in 2022. Goggles category dominates the night vision devices market by device type as they use image enhancement technology and are able to provide a good image by amplifying the available light. The rise in research and development investment and increase in demand from military and defense sectors are driving its demand. The Camera segment is expected to grow at the fastest rate during the forecast period mainly due to their low maintenance cost and ability to reduce glare from harsh light sources.
Global Night Vision Device market by Technology
The Global Night Vision Device market is segmented by Technology into thermal imaging, image intensifier, infrared illumination and others. The Image Intensifier technology segment dominated the market for Night Vision devices in 2022. This Image Intensifier technology is much cheaper than the other technologies such as thermal imaging which is a major factor in its growth. Furthermore, the integration of advanced technologies such as image intensifiers especially in border investigation applications for night vision devices is propelling the market growth.
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Global Night Vision Device market by Application
The Night Vision Device Market is segmented by Application on the basis of military & defense, wildlife spotting & conservation, surveillance, targeting, navigation and others. The Surveillance segment held the largest market share in 2021. The Surveillance sector dominates the market due to the ever-increasing requirement of night vision security, enhanced border surveillance, and video surveillance to protect the cites and citizens. During this covid pandemic period, video surveillance allows enforcement officers to keep an eye on the movement of people without causing any harm to themselves by keeping a safe distance.
Global Night Vision Device Market by Geography
The Global Night Vision Device market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America accounts for the largest share among all Regions within the total Night Vision Device market in 2021.
The security threats to countries like US and Canada coupled with the rising demand to bolster their internal securities 24/7 are driving the market growth of the North American market. The constant threat of cross-border human and drug trafficking for this region is also helping the market to grow. The Asia Pacific region is expected to grow at the fastest CAGR during the forecasted period 2022-2028, owing to the government’s investments in location-based devices, public transport systems, and the rising military and defense budgets.
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