Infrared (IR) LED Market SWOT Analysis by 2024 Major Players Operating in The Market are Excelitas Technologies Corp., LITE-ON, Lumileds, ON Semiconductor, Vishay Intertechnology, Inc. and Würth Elektronik Group

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.

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The global IR LED market is highly fragmented with several optoelectronic companies. The major players in the industry include EPISTAR, Everlight Electronics, Excelitas Technologies Corp., Kingbright USA, LED Engin, Inc, Lextar Electronics, LITE-ON, Lumileds, Luna Optoelectronics, Marktech Optoelectronics, Nichia Corporation, ON Semiconductor, OSRAM Opto Semiconductors, Rohm Semiconductor, Measurement Specialties, Inc, now TE Connectivity, Vishay Intertechnology, Inc., Würth Elektronik Group The companies in Taiwan and China are highly active in the industry and are launching new innovative products. The support provided to Chinese manufacturers by the government has made China have a stronghold over the industry.

The intense price wars among the manufacturers in LED chips have led the companies to switch to IR LED components for widening their profit margins thereby driving the infrared LED market. These players are following several strategies for gaining a significant share and benefiting from the changing market scenarios. The companies are expanding the production of these components to cater to the increasing demands of the industry. In addition, they are launching several new products in the industry, particularly for automotive and biometric applications. For instance, EVERLIGHT Electronics introduced 810nm IR LED for iris-based biometric systems. This component is compatible with security systems and portable handsets.

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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.

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.

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Asia Pacific IR LED market dominated the industry in 2017 with a revenue share of over 35% owing to the strong presence of the optoelectronics manufacturers in the region. The key players in the market are Taiwanese, Epistar, Lextar, and Optotech. These companies are contributing significantly to the industry in the region. IR LEDIn addition, owing to the increasing investments by the governments, the upgrading of the infrastructure in Asia Pacific is propelling the IR LED industry growth. There is an ever-growing demand for CCTV cameras in the countries for security applications. IR LED.

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