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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
IR LED Market Size
The global IR LED market size is assessed to grow in the forecast period of 2024-2032 at a CAGR of 8.50%. The market growth is being driven by rising demands for imaging and increasing usage in automotive and machine-to-machine environments.
An IR LED or infrared LED is an infrared light-emitting diode, a semiconductor device that releases infrared rays when exposed to an electric current. They are commonly used in several transfer systems, such as in remote controls for televisions and in night-vision cameras, among others.
The global IR LED market growth is being driven by the increasing demand for consumer electronics and growing defence applications of infrared LED technology. Rising disposable incomes and the availability of a wide range of consumer electronics are surging the demand for infrared LEDs. Intelligent lighting technology that is part of the Industrial Internet of Things (IIoT) and dynamic machine vision systems are further expanding the market potential for IR LED. Infrared LED is also becoming increasingly utilised in advanced surveillance applications including automatic licence plate recognition and biometrics for facial, fingerprint, and iris recognition.
At a regional level, the market in Asia Pacific is anticipated to witness significant growth over the coming years. The market is expanding due to the presence of densely populated nations like China and India, rising disposable income, and shifting consumer lifestyles.
IR LED Market Report Snapshots
IR LED Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 8.50% between 2024 and 2032.
The major drivers of the market are growing use of IR LED in the automotive sector and the rising application of the product in smart homes and smart offices.
The key trends guiding the market growth include the cost-effectiveness and high efficiency of infrared LED and its increasing use in the healthcare sector in therapies and medical devices.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
IR LED chip and IR LED package are the major technologies considered in the market report.
The different spectral ranges of IR LED are 700 nm – 850 nm, 850 nm – 950 nm, 950 nm – 1020 nm, and 1020 nm – 1720 nm, among others.
The various applications of IR LED include biometrics, imaging, lighting, remote sensing, and surveillance, among others.
The significant end uses of IR LED are aerospace and defence, automotive, consumer electronics, commercial, industrial, healthcare and hospitality, and retail, among others.
The key players in the IR LED market are OSRAM Opto Semiconductors GmbH, EPILEDS Technologies, Inc., Epistar Corporation, Nichia Corporation, Kingbright Company, LLC, Everlight Electronics Co., Ltd, and ROHM Co., Ltd., among others.
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