Night Vision Device Market estimated to surge at a CAGR of 8.28% growing from US$6.258 billion in 2019 to a value of US$10.086 billion by 2025
Knowledge Sourcing Intelligence announces the publication of a new report on “Night Vision Device Market – Forecast from 2020 to 2025” to their offering.
The growing applications of night vision devices for navigation, surveillance and security are some of the factors driving the night vision devices market growth during the next five years. Furthermore, the low costs of these devices is also bolstering the market during the next five years.
According to the report, the Night Vision Device Market is projected to increase at a CAGR of 8.28% over the forecast period 2019-2025.
The market is poised to surge at a noteworthy CAGR throughout the forecast period primarily on the account of its growing adoption for various applications due to its cost-effectiveness. Also, the growing number of terrorist attacks around the globe is further burgeoning the requirements for keeping the security and defense up to date, which is also augmenting the demand for these devices in the coming years. Furthermore, the increasing need to keep track on the activities of the animals in wildlife sanctuaries is also expected to supplement the market growth during the next five years. The rising investments in the defense sector on account of growing regional tensions across the globe is also anticipated to propel the growth opportunities for the market to surge throughout the forecast period and beyond.
By Product, the night vision devices market has been segmented based on camera, goggle and scope. The goggle segment is projected to hold a noteworthy share during the next five years on account of its wide application across the defense sector. The camera is projected to show decent growth over the forecast period owing to the growing adoption of security and surveillance systems across the residential sector.
Geographically, the night vision devices market has been classified into North America, South America, Middle East and Africa, and Asia Pacific. The North American region is anticipated to hold a significant share in the market owing to the presence of a well-established defense sector. Moreover, the presence of key market players in the region also supplements the market growth in the region for the coming years. The Asia Pacific region is projected to surge at a noteworthy rate throughout the forecast period primarily on the account if booming defense spending in countries like India and China among others.
Some of the key players covered as part of the report Thales Group, L3 Communications, BAE Systems, FLIR Systems, and ATN Corporation, Elbit Systems, Armasight, Rockwell Collins, OPTIX Co., Meopta, among others.
View a sample of the report or purchase a complete study at https://www.knowledge-sourcing.com/report/night-vision-device-market
This report segmented the Night Vision Device market on the basis following terms:
- Thermal Imaging
- Infrared Illumination
- Image Intensification
- Security and Surveillance
- United Kingdom
Middle East and Africa
- Saudi Arabia
- South Korea
- North America
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