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Global Night Vision Devices Market Overview 2018, Demand by Regions, Share and Forecast to 2023

United States, 9 October 2018 -- Over the recent years, the global night vision devices market has been witnessing a healthy growth on account of ascending terrorist threats as well as unlawful activities worldwide. This can also be accredited to escalating defence spending by military forces of several regions.

According to the latest report by IMARC Group, titled “Night Vision Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global night vision devices market reached a value of nearly US$ 7 Billion in 2017. Night vision devices are optoelectronic tools which assist in providing a clear image in dark surroundings by sourcing, detecting and amplifying the light. The image produced by night vision devices is usually green in colour and presents an accurate as well as user-friendly picture to the wearer. These devices are primarily used for navigation, surveillance, detecting intruders and criminals as well as targeting by law enforcement and security agencies.

On account of growing terrorist threats and unlawful activities across the globe, there is a need for constant vigilance, as a result of which security screening has become mandatory at public places like airports, railways, stadiums and border checkpoints. In addition to this, an escalation in the cases of covert operations acts as another major factors driving the night vision devices. Apart from this, technological advancements in night vision devices have led to low-cost solutions, reduced weight, enhanced product performance, unique product design and ease of handling. Moreover, the confluence of efficient consumption of power and expanding applications in wildlife photography has contributed towards the market growth. Looking forward, the market value is projected to reach around US$ 11 Billion by 2023, registering a CAGR of more than 8% during 2018-2023.

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Source: IMARC Group

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Submitted by Imarc Group, IMARC Group on Tuesday, 9 October 2018 at 7:28 PM
Category: Consumer Technology

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