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Lumileds, Excelitas Technologies Corp., OSRAM, Epistar, Everlight Electronics, Infrared (IR) LED Market Analysis to 2024 with ROHM Semiconductor Americas, LED Engin, Inc, Lextar Electronics, ON Semiconductor dominating
Infrared (IR) LED Market
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Infrared (IR) LED Market size is set to exceed USD 1 billion by 2024; according to a new research report by Global Market Insights, Inc. The global shipments are set to grow at over 17% CAGR between 2018 and 2024. The IR LED market is projected to witness a significant growth over the forecast period owing to the increasing demand for cameras with night vision capabilities and remote sensing in automotive and consumer electronic industry. The demand infrared LED market in the automotive industry has grown owing to the increasing usage of these components in the exterior and interior lighting applications. Moreover, the industry has tremendous opportunities for growth in the future with their integration in wearable devices such as AR/VR and with the emergence of IoT enabled devices.
The vendors in the infrared LED market space are EVERLIGHT, Vishay Intertechnology, Epistar, Rohm Semiconductor, Raytek Corporation, Lite-On Technology, Osram, Everlight Electronics Co. Ltd, Excelitas Technologies Corporation, High Power Lighting Corporation, Kingbright, LED Engin Inc., Lextar Electronics Corporation, Lumileds, Luna Optoelectronics, Marktech Optoelectronics, Nichia Corporation, ON Semiconductor, Ushio OPTO Semiconductors Inc., Wurth Electronics Inc.
Infrared (IR) LED Market, By Spectral Range
• 700nm-850nm
• 850nm-940nm
• 940nm-1020nm
• 1020nm-1720nm
Infrared (IR) LED Market, By Application
• Biometrics
• Imaging
• Lighting
• Remote sensing
• Surveillance
Infrared (IR) LED Market, By End-Use
• Aerospace & defense
• Automotive
• BFSI
• Consumer electronics
• Education
• Healthcare
• Industrial
• Retail
The 850nm- 940nm wavelengths in the IR LED market are expected to grow at a CAGR of over 17% from 2018 to 2024, due to the increasing applications of these components in numerous applications. They are being widely integrated in the automotive systems, fueling the demand for components with this wavelength in the automotive and industrial sectors.
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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.
Browse Full Report: www.gminsights.com/industry-analysis/infrared-ir-led-market
Several companies in the industry have shifted their focus on the infrared LED market considering the demand and the huge potential. EVERLIGHT in 2017 reported that business contributed 25 percent of its total revenue. The market share of Epistar in these LED chips was over 10% of all AlGaInP chip output in 2015.
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https://www.marketwatch.com/press-release/single-board-computer-market-in-china-to-witness-18-gains-to-2024-2018-10-04
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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