ID: MRFR/AM/3688-CR | October 2020 | Region: Global | 100 pages
Impact of COVID-19 on the Automotive Night Vision System Market
The global spread of the COVID-19 pandemic has substantially impacted the growth of the automotive night vision systems market. The transmission of the virus has affected most industries worldwide. The governments of several countries have imposed lockdowns, compelling people to stay at home, which, in turn, has reduced the physical interaction among people. Companies have allowed employees to work remotely from their homes to ensure business continuity during the COVID-19 pandemic, which is expected to hinder the growth of the automotive night vision systems market over the forecast timeframe. The increasing focus on remote working has restricted the growth of the automotive industry, which, in turn, is likely to limit the growth of the automotive night vision systems market.
Manufacturing operations in the automotive sector have been disrupted due to the COVID-19 crisis across the globe. The shift in consumer preference towards essential products is likely to influence the automotive night vision systems market over the projected period. Moreover, the COVID-19 outbreak has resulted in the sealing of international borders, which has caused a severe decline in the global demand for automotive night vision systems. Government authorities worldwide have imposed strict restrictions on travel. Hence, the automotive night vision systems market is expected to be affected due to the lowered vehicle usage. Additionally, the restrictions on public gatherings along with the travel prohibitions in numerous countries are expected to hinder the growth of the automotive night vision systems market during the forecast period.
New passenger car registrations in the EU (Units IN THOUSAND)
The figure above shows the statistics for automobile registrations in the EU from January 2020 to March 2020. Automotive night vision systems are vital for improved driver responses during night-time journeys providing enhanced vehicle control along with driver and occupant safety. The statistics show the fluctuations in new-vehicle registrations in the EU during Q1 of 2020, which have affected the demand for automotive night vision systems severely. The increased focus towards personal hygiene and care is likely to affect the demand for rental vehicles in the coming months. Thus, there is high uncertainty regarding the growth of the automotive night vision systems market over the projected timeframe.