Press release
Infrared (IR) LED Market shipments to hit 8 bn units by 2024 | EPISTAR, Everlight Electronics, Excelitas Technologies, Lextar Electronics, LITE-ON, Lumileds, ON Semiconductor, OSRAM, ROHM Semiconductor, Vishay Intertechnology, Wurth Electronics
Infrared (IR) LED Market
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The biometrics industry is the growing segment in the infrared LED market. This is attributed to the growing adoption of iris and facial recognition in electronic devices. This increasing adoption is being propelled by mobile payment services that create the need for secure and reliable authentication for users. Several LED manufacturing companies are taking advantage of these opportunities and are launching advanced components for biometric applications. For instance, recently GOME, one of the electronic retailers in China collaborated with Osram Opto Semiconductors to integrate the Iris recognition technology in their smartphones. The company has Osram infrared components on all their smartphone offerings. The growing smartphone industry globally is projected to spur the IR LED market for iris and facial recognition.
World Infrared (IR) LED Market is set to grow from its current market value of $400 million to more than $1 billion by 2024, grow at over 15% CAGR. The global shipments will witness 17% gains to reach over 8 billion units by 2024.
Industry Growth drivers –
• The presence of several optoelectronics players in the in Taiwan
• High security demand in the U.S.
• High demand from the automotive sector in Germany
• Favorable government regulations in China
• Rising investments in the technology in India
• Huge demand from the surveillance sector in UK
• Technological advancements and favorable investment landscape in South Korea
• UAE to lead the infrared LED market in the MEA region
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Technological advancements in the automotive industry have fuelled the adoption of advanced driver assistance systems (ADAS), safety systems and telematics. These components are required for implementing these technologies and making them operative driving the IR LED market. Moreover, the technology is required for incorporating night vision and blind spot features into the automotive systems. This growing application of the technology for interior and exterior lighting applications in cars are benefiting the infrared LED market.
North America IR LED market is expected to reach over USD 350 million by 2024 owing to the increasing demands from the surveillance industry. The U.S. has been the major country for adopting advanced surveillance technologies such as artificial intelligence, facial recognition and surveillance automation. The demand for such technologies is increasing across airports, commercial buildings and other public buildings. Surveillance has been integral to the U.S. for law enforcement and is part of critical national infrastructure.
Browse key industry insights spread across 350 pages with 267 market data tables & 30 figures & charts from the report, “Infrared (IR) LED Market Size By Spectral Range (700nm-850nm, 850nm-940nm, 940nm-1020nm, 1020nm- 1720nm), By Application (Biometrics, Imaging, Lighting, Remote Sensing, Surveillance), By End-use (Aerospace & Defense, Automotive, BFSI, Consumer Electronics, Education, Healthcare, Industrial, Retail), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Taiwan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/infrared-ir-led-market
Prominent players in the IR LED market include EPILEDS, Epistar Corporation, Everlight Electronics Co. Ltd, Excelitas Technologies Corporation, High Power Lighting Corporation, Kingbright, LED Engin Inc., Lextar Electronics Corporation, Lite-On Inc., Lumileds, Luna Innovations Incorporated, Marktech Optoelectronics, Nichia Corporation, ON Semiconductor, Osram Opto Semiconductors Inc., ROHM Semiconductor, TE Connectivity Measurement Specialties, Ushio OPTO Semiconductors Inc., Vishay Intertechnology, and Wurth Electronics Inc.
The industry is highly diverse with many regional and international players. These players are investing in expanding their production capabilities to meet the increasing demands from the consumer and automotive industry. For instance, OSRAM in February 2018 invested over USD 400 million in a new LED chip factory in Malaysia for increasing production. The companies are also launching new Infrared LED components designed specific for consumer electronics sector and automotive sector of different wavelengths.
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Thermal Imaging Market By Product, Technology, End-Use, Application, Region, Forecast 2018-2024
World Thermal Imaging Market is set to grow from its current market value of $5.5 billion to more than $10 billion by 2024, growing at a CAGR of 8%. The global shipments are forecast to witness 13% gains to reach over 4 million units by 2024.
Key vendors in the thermal imaging market include 3M Scott, Allied Vision, American Technologies Network (ATN) Corp., Avon Protection Systems Inc., Axis Communications, Bae Systems Imaging Solutions, COX, Dali Technology, Draeger Safety Inc., FLIR Systems, Fluke Corporation, General Starlight Company Inc. (GSCI), L3 Technologies, Leonardo DRS, Magnity Electronics, Opgal Optronic Industries Limited, Palmer Wahl Instrumentation Group, Raytheon, Seek Thermal, Testo SE, Thermoteknix Systems, Tonbo Imaging, ULIS, Wuhan Guide Infrared Co., Ltd., and Xenics NV.
https://www.gminsights.com/industry-analysis/thermal-imaging-market
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