Night Vision Device Market Growing at a CAGR of 8.8% to 2020 Driven by Increasing Armed Conflicts

The night vision device market is expected to grow from USD 5.07 billion in 2015 to USD 7.73 billion by 2020, at a CAGR of 8.8% during the forecast period. The factors driving the night vision device market are technological innovation, increase in armed conflicts, and civil & commercial applications of NVD.

Complete report on global night vision device market spread across 125 pages, profiling 8 companies and supported with 81 tables and 85 figures is now available at:
http://www.rnrmarketresearch.com/night-vision-device-market-by-device-type-camera-scope-goggle-technology-by-application-military-surveillance-security-hunting-navigation-hidden-object-detection-paranormal-research-and-others-and-by-geography-global-forecast-market-report.html

The Global Peacekeeping Index, by the Institute of Economics and Peace, presents the list of armed conflicts that take place around the globe. In recent years, there has been a significant decline in the peacekeeping index of the Middle East and African countries. The increased incidences of armed conflicts in these regions are expected to drive the demand for night vision devices in the coming years.

Night vision camera segment has a large share in the global night vision device market in the year 2015, and is also expected to grow at a high CAGR between 2015 and 2020. Whereas, night vision goggles segment is expected to grow at the second highest CAGR, owing to the increasing demands from military and defense sector.

North American market is currently witnessing significant increase in the consumption of night vision devices. Applications such as surveillance, military, and navigation are expected to exhibit high growth in this region. Asia-Pacific is estimated to account for the second-largest market share by the end of the forecast period. Countries such as Japan, India, South Korea, and China are driving the market of night vision device in this region. However, China’s economic downturn could act as a hindrance to the growth of this regional market.

In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (60%), Director Level (25%) and others (15%) from various key organizations operating in the night vision device market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), APAC (40%), and Row (30%).

Almost every country in the world is investing significantly to modernize their armed forces. With modernization every county wants to enhance its range and increase its surveillance capacity, mobility, lethality and further ignite the demand of night vision devices.

The various key market players profiled in the report such as FLIR SYSTEMS, EXELIS INC., L-3 Communication, American technologies network Corp., Elbit systems, Rockwell Collins, Inc., BAE systems, Thales group S.A. Ask for a discount before order a copy of Night Vision Device Market by Device Type (Camera, Scope, Goggle), Technology, By Application (Military, Surveillance, Security, Hunting, Navigation, Hidden Object Detection, Paranormal Research, and Others) and by Geography – Global Forecast to 2020 research report at:
http://www.rnrmarketresearch.com/contacts/discount?rname=461557

This report segments the night vision device market comprehensively and provides the closest approximation of the revenue numbers for the overall market and the sub segments across the different verticals and regions. The report helps stakeholders to understand the pulse of the market, and provides them information on key market drivers, restraints, challenges, and opportunities.

This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers and acquisitions.

On a related note, another research titled 3D Machine Vision Market Global Forecast to 2020 says, the 3D machine vision market is expected to grow at a CAGR of 10.53% during the forecast period between 2015 and 2020. The major reason for the growth in 3D machine vision technology is due to its growing applications in the automotive and electronics industries. PC-based 3D machine vision system still holds the largest share. APAC would be the fastest-growing market. Companies like Keyence Corporation, Cognex Corporation, ISRA Vision AG, Sick AG, Stemmer Imaging, National Instruments, Hermary Opto Electronics Inc., MVTec Software GmbH, Tordivel AS, Canon U.S.A. Inc. and Texas Instruments have been profiled in this 150 pages research report available at:
http://www.rnrmarketresearch.com/3d-machine-vision-market-by-component-camera-frame-grabber-software-product-pc-based-and-smart-camera-based-application-vertical-automotive-consumer-electronics-postal-logistics-its-and-geography-global-forecast-to-2020-market-report.html 

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