Market Snapshot
According to MRFR, the Global Infrared LED Market is expected to grow from USD 2.3 billion in 2018 to USD 4,827.54 Million by 2025, at a CAGR of 16.10%, during the forecast period.
Market Overview
Infrared LEDs are commonly adopted due to advantages such as availability, low power consumption and quick deployment. We are reporting rising acceptance across the automotive and health-care sectors. Additionally, favorable policy regulations and dropping IR receiver prices promote the use of IR LEDs in different products. Increasing popularity of these devices among end-users of DIY (do-it-yourself) security cameras is foreseen in support of industry demand. Growing security challenges and ever-expanding smartphone industry meet global demand from infrared LEDs. Rising construction of smart homes and commercial complexes will need more safe equipment in the coming years for the safety purposes. Infrared LEDs are commonly adopted due to advantages such as availability, low power consumption and quick deployment. We are reporting rising acceptance across the automotive and health-care sectors. Additionally, favorable policy regulations and dropping IR receiver prices promote the use of IR LEDs in different products. Increasing popularity of these devices among end-users of DIY (do-it-yourself) security cameras is foreseen in support of industry demand. Growing security challenges and ever-expanding smartphone industry meet global demand from infrared LEDs. Growing construction of smart homes and commercial complexes will need more safe equipment in the coming years.
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Market segmentation
The Global Infrared LED Market was analyzed based on spectral Range, Application, End Use and Area.
The market was segmented by Spectral Spectrum into 850nm–940 nm, 700nm–850 nm, 940nm–1020 nm and 1020nm–1720 nm. In 2018 the segment 700nm–850 nm is slated to dominate the market. The highest CAGR is also expected to be recorded over the review period. The main contributor to this segment 's growth is the increase in consumer electronics adoption of aspects such as facial recognition and iris recognition.
The market was segmented by application into photography, biometrics, illumination, remote sensing and surveillance. This is estimated that the security group will account for the largest market share. The key driver for the market is the increasing adoption of IR LED in night vision cameras. The imaging segment is expected to record the highest CAGR over the forecast period, however.
The industry was segmented by End Use into aerospace & defense, automobile, BFSI, consumer electronics, e-commerce, education , healthcare, and other industries. Projected to hold the largest market share in the automobile segment. OSRAM launched a 940 nm IR LED in 2018 which allows for facial recognition of the automotive. The healthcare segment, however, is expected to register a significant CAGR during the forecast period due to the increasing adoption of IR LEDs in dermatology and neurology devices.
Regional Appraisal
It is estimated that the Global Market for Infrared LED will grow at a significant rate over the 2019 to 2025 forecast period. Infrared LED market geographic analysis was conducted for North America, Europe , Asia-Pacific, and the rest of the world.
From 2019 to 2025 Asia-Pacific is projected to have the largest share of Infrared LED market. The main drivers of the market are the high concentration of optoelectronics industry participants, the easy availability of knowledgeable technical experts, and growing government spending in the field.
Due to the rapid growth, Europe is expected to hold the second largest market share during the forecast period in the automotive sector. Germany is the most profitable market in the region, followed by the UK and France.
Key Players
The Key Players profiled in the Global Infrared LED Market research report are Epileds Technologies (Taiwan), Epistar Corporation (Taiwan), Everlight Electronics Co. Ltd (Taiwan), Excelitas Technologies Corporation (US), High Power Lighting Corporation (Japan), Kingbright (Taiwan), OSRAM GmbH (Germany), Lextar Electronics Corporation (Taiwan), Lite-On Technology, Inc. (Taiwan), Nichia Corporation (Japan), Luna Optoelectronics (US), Marktech Optoelectronics (US), Würth Elektronik GmbH & Co. KG (Germany), and Lumileds (US).
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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