Knowledge Sourcing Intelligence announces the publication of a new report on “Night Vision Device Market - Forecasts from2020 to 2025" to their offering.
Night Vision Devices are also known as optical or observation devices that allow the users to see in the dark. These devices produce images in levels of light that approach the darkness. The market is poised to grow on account of the rising popularity of these devices due to the cost-effectiveness.
According to the report, the Night Vision Device Market is projected to increase at a CAGR of 8.28% in the coming years.
Cost-effectiveness is driving the demand
The major factors boosting the night vision devices market growth throughout the forecast period include the significantly growing adoption of these devices across several sectors due to the cost-effectiveness of these devices. The improvement in the technology and the constant participation of market players in the development of low cost and effective solutions is a key factor that is playing a significant role in the growing adoption of these devices. There is wide adoption of these devices across the defense sector as the rising regional tensions across the nations has led to an upsurge in the adoption of technology for the strengthening of the defense bases across both developed and developing economies of the globe. The night vision devices market is also poised to witness growth on account of the rising popularity of these devices across the wildlife research field. Also, the increase in the number of nature enthusiasts around the globe is also positively impacting the demand for these devices, thus propelling market growth during the next five years. The burgeoning requirement for keeping track of the movement and activities of animals in the wildlife sanctuaries is also providing an impetus for the market to grow during the forecast period.
The night vision devices market has been segmented on the basis of technology, product, application, and geography. On the basis of technology, the segmentation of the market has been done into thermal imaging, infrared illumination, and image intensification. By product, the segmentation of the market has been done into camera, goggle, and scope. On the basis of application, the market has been classified on the basis of navigation, security and surveillance, and others. Geographically, the market has been distributed into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
By product, the goggles are anticipated to hold a substantial market share throughout the forecast period. The major factor supplementing the share of this segment is the wide adoption of night vision goggles in the military and defense sector. Furthermore, the rising popularity of these goggles for wildlife research fields is further bolstering the growth of this segment over the course of the next five years. Moreover, the camera segment is anticipated to witness healthy growth throughout the forecast period on account of the burgeoning adoption of security and surveillance systems in residential buildings especially in the developing economies such as India and China among others.
Geographically, the North American region is expected to hold a significant share in the market on account of the early adoption of technology and well-established infrastructure. Also, the presence of the major players of the market in the North American region is also supplementing the market growth during the next five years.
The major players covered as part of the report are Thales Group, L3 Communications, BAE Systems, FLIR Systems, and ATN Corporation among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/night-vision-device-market
This report has segmented the Night Vision Device market on the basis following terms: