Infrared (IR) LED Market Outlook, Opportunities, Size, Share, Power, End User Industry and Demand by 2023

The global IR LED market is expected to reach $784.8 million by 2023, registering a CAGR of 14.3% during 2018 - 2023. An IR LED refers to infrared light emitting diode, which appears similar to the common LED, with the only difference that it emits 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 being used in the biometric ID applications, military applications and surveillance applications.

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The market for IR LED is expected to register 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 fog, 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 intensity range and sufficient spectral range of electromagnetic spectrum. Increasing security concerns in developing as well as developed countries is driving the demand for surveillance devices and biometrics systems, globally. IR LEDs are being used in CCTV cameras, biometric ID applications, infrared imaging and various other applications in the surveillance industry.

Geographically, Asia-Pacific has been the largest contributor to the global IR LED market and is also expected to register significant growth, during the forecast period. The growth of infrared based products, such as IR LED, IR emitter and receiver, in Asia-Pacific can be mainly 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.

IR LEDs are widely being adopted in special biometric ID applications, such as iris recognition and facial recognition. For biometric ID applications, these LEDs are commonly used as an amalgamation of ID technologies and sensors. IR LEDs are being used as essential light sources of emerging technologies. With the growing demand for such technologies, the market for IR LED is expected to increase in near future. Moreover, favorable legal, social and political perspectives, surging investments in government security projects, expeditious proliferation of HD CCTVs and expanding applications of biometrics, are the major factors accelerating the demand for IR LEDs in the surveillance industry.

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Some of the major companies operating in the global IR LED market include EPILEDS, EPISTAR, EVERLIGHT, NICHIA., OSRAM Opto Semiconductors and Vishay Intertechnology.

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