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Night Vision Devices Market Size Expansion: A Snapshot of Growth Between 2024 and 2029
In the past few years, the market size for night vision devices has seen robust growth. It is anticipated that this market will expand from $8.31 billion in 2024 to $8.9 billion in 2025, registering a compound annual growth rate (CAGR) of 7.1%.
The growth during the historical period has been fuelled by the uptake of these devices in recreational and outdoor activities, enhancements in image quality, decrease in costs, commercial usage, the creation of more compact designs, and increased usage in law enforcement.
Expectations are high for the night vision devices market, with projections indicating strong growth in the upcoming years. By 2029, it's anticipated that the market potential will reach $12.39 billion, thanks to an impressive compound annual growth rate (CAGR) of 8.6%.
This growth over the forecast period is largely owing to the AI and machine learning integration, adoption of energy-conscious solutions, preference for lightweight and ergonomic designs, and greater demand for digital night vision. Moreover, improvements in range and detection capabilities play a significant role.
Noteworthy trends expected in the forecast period include the reduction in size and enhanced portability, improved image quality, integration of thermal imaging, improved connectivity attributes, and escalating demand for digital night vision.
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Key Drivers Behind the Expansion of the Night Vision Devices Market: Insights and Trends
The projected expansion of the night vision devices market is expected to be fueled by the growth in military and defense sectors. Activities and organizations associated with national defense and armed forces are encompassed in the military sector, whereas the defense sector is specifically related to industries and companies that manufacture military equipment and technology.
The deployment of night vision devices in these sectors increases night-time visibility, facilitates covert operations, surveillance, and the identification of targets, ensuring efficient operations under low-light conditions. As reported by the Stockholm International Peace Research Institute, an independent agency based in Sweden involved in research concerning conflict, armaments, arms control, and disarmament, the total global military expenditure rose by 3.7% in real terms in 2022 to touch a record total of $2,240 billion in April 2023.
Russia's military spending is expected to rise by 9.2%, making it $86.4 billion in 2022. Furthermore, the total military expenditure in Asia and Oceania reached $575 billion, marking a 2.7% rise from 2021.
This surge in the military and defense sectors will consequently propel the growth of the night vision devices market.
Which Segments in the Night Vision Devices Industry Are Seeing the Fastest Growth?
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
Subsegments:
1) By Goggles: Handheld Goggles, Helmet-Mounted Goggles
2) By Monocular And Binoculars: Night Vision Monoculars, Night Vision Binoculars
3) By Camera: Night Vision Cameras, Thermal Imaging Cameras
4) By Glasses: Night Vision Glasses, Augmented Reality Glasses
5) By Scopes: Night Vision Rifle Scopes, Night Vision Spotting Scopes
6) By Other Devices: Night Vision Drones, Specialized Night Vision Equipment
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Which New Trends Will Create Growth Opportunities in the Night Vision Devices Market?
The primary players in the night vision device market, particularly those developing true-color night vision devices like the KAWA T6 security cameras, seek to create a competitive advantage within the sector. KAWA T6 cameras are true-color night vision security devices capable of capturing and presenting full-color images devoid of any additional light sources during low-light or nighttime situations.
In June 2023, for example, KAWA Electronics Company Limited, a leader in smart technology and electronic audio and video manufacturing in China with a specialty in night vision devices, introduced the KAWA T6 and KAWA T6 Pro security cameras. These innovative devices include the unique feature of true full-color night vision.
The introduction of a 1/1.79'' stacked CMOS (complementary metal oxide semiconductor) sensor into these cameras enhances their performance, enabling them to capture stunning 4MP super HD resolution images with astounding clarity. Both the KAWA T6 and T6 Pro are equipped with AI (artificial intelligence) technology that enhances motion detection and discerns human movement, thereby improving their accuracy and reliability.
Which Global Regions Are Powering Demand in the Night Vision Devices Market?
North America was the largest region in the night vision devices market in 2024. 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
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How Key Players Are Driving Growth in the Night Vision Devices Market?
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.S., 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.
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