LONDON--(BUSINESS WIRE)--The global night vision devices market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The rise in the number of terrorist activities has led many countries to regularly upgrade the weapons and devices used by the military. This has fueled the demand for night vision devices such as scopes, goggles, and cameras to improve the capabilities of armed forces in tackling terrorist activities. To capitalize on this demand, vendors in the market are offering night vision devices integrated with advanced features such as thermal technology to produce sharp thermal images both during day and night. Therefore, the growing demand for night vision devices in military applications is one of the key factors driving the growth of the market.
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As per Technavio, the application of sensor fusion technology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Night Vision Devices Market: Application of Sensor Fusion Technology
Vendors in the market are introducing night vision devices with sensor fusion technology to ensure better estimations with increased accuracy. The technology uses a thermal imager and an image intensifier to provide digitally enhanced images that can be transferred to a command center for information verification or general intelligence gathering and observation. The sensor fusion technology will be beneficial to the military, security, and law enforcement personnel. With the growing focus on upgrading military equipment, the demand for night vision devices equipped with such technologies will increase significantly during the forecast period.
“Use of night vision devices in paranormal investigations and increased investments in the military sector will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Night Vision Devices Market: Segmentation Analysis
This market report segments the global night vision devices market by type (night vision goggles, night vision cameras, night vision scopes, and others), application (military and civil), and geography (Americas, APAC, and EMEA).
The Americas region led the market in 2018, followed by APAC and EMEA respectively. During the forecast period, the Americas region is expected to maintain its dominance over the market. This is due to the growing demand for advanced devices and equipment from military applications in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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