Infrared (IR) LED Market Size, Share, Trends, Growth and Demand Forecast to 2023

10/mag/2018 12:44:14 P&S Market Research Contatta l'autore

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The global  IR LED market  is expected to reach $ 784.8 million by 2023, registering at CAGR of 14.3% during 2017 - 2023. An IR LED refers to infrared light emitting diode, which appears to be the same light in infrared range of the electromagnetic radiation spectrum. Such LEDs are mainly composed of gallium arsenide or aluminum gallium arsenide. These LEDs, along with IR receivers, are usually used as sensors. IR LEDs are widely used in the biometric ID applications, military applications and surveillance applications.

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As for the findings of the research, the market is expected to be the highest growth in Asia-Pacific, during the forecast period. The emerging countries in Asia-Pacific, including India, China and Vietnam, are making huge investments in new product launches in the IR LED market.

Surveillance industry has been contributing the largest revenue to the global IR LED market. IR LED offers night vision capability in military applications to provide effective vision in unclear atmospheric conditions, such as smoke, dust and airborne obscurant. Night vision refers to the ability to see in total darkness, which is made possible by an amalgamation of acceptable range and sufficient spectral range of electromagnetic spectrum.

Increasing security concerns in developing as well as developed countries is the demand for surveillance devices and biometrics systems, globally. IR LEDs are used in CCTV cameras, biometric ID applications, infrared imaging and other applications in the surveillance industry.

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Geographically, Asia-Pacific has been the largest contributor to the global market. The growth of infrared based products, such as IR LED, IR emitter and receiver, in Asia-Pacific can be ascribed to the growth of emerging economies of the region, including China and India. Moreover, Asia-Pacific has emerged as a hub for major original equipment manufacturers (OEMs) for miscellaneous infrared-related products, which makes it a booming market for IR LED.

China has been the largest revenue contributor to the global lighting industry, accounting for over 40% of the global production. A gigantic increase in the acceptance of security cameras has been observed across the globe. LED cameras to offer night vision capabilities. Increasing popularity of these cameras is expected to generate higher demand for IR LEDs, especially in China, where most of these cameras are being manufactured. Growth of the Chinese IR LED market is likely to be the growth of the IR LED market in Asia-Pacific. Investment in research and development of IR LEDs in the emerging countries of Asia-Pacific, including Taiwan, Vietnam and South Korea, is the major factor propelling the growth of the IR LED market in the region.

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IR LED market includes EPILEDS, EPISTAR, EVERLIGHT, NICHIA, OSRAM Opto Semiconductors and Vishay Intertechnology.

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