Infrared LED Market Global Analysis by Industry Size, Share, Upcoming Trends, Growth, Business Strategies, Emerging Applications and Dynamics 2020 To 2023

Overview

According to Market Research Future, the market for the Global Infrared LED has been segmented on the basis of Type, Application, Industry, and Region.

Infrared LEDs are widely being adopted owing to benefits such as affordability, low power consumption, and ease of installation. They are registering a growing adoption across the automotive and healthcare sectors. Furthermore, favorable government regulations and the decreasing price of IR receivers boost the utilization of IR LEDs in various devices. However, the lack of IR LED-related global standards is expected to limit market growth.

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Based on the spectral range, the market has been categorized as 700nm-850nm, 850nm-940nm, 940nm-1020nm, and 1020nm-1720nm. The 700nm--850nm segment is projected to account for the largest share during the review period. The growing adoption of facial recognition and iris recognition in consumer electronic devices is expected to drive the demand for IR LEDs in the coming years.

Based on the application, the market has been categorized as biometrics, imaging, lighting, remote sensing, and surveillance. The surveillance segment dominated the market in 2018. The market is exhibiting a wide adoption of IR LEDs in surveillance cameras. However, the imaging segment is expected to register the highest CAGR during the forecast period from 2019 to 2025. In 2019, Lumileds launched a broadband infrared emitter-- LUXEON IR ONYX--for hyperspectral imaging applications.

Based on end-use, the market has been categorized as aerospace & defense, automotive, BFSI, consumer electronics, e-commerce, education, healthcare, and others. The automotive segment is expected to dominate the review period, whereas the healthcare segment is expected to register the highest CAGR. In 2019, market players such as Nichia, RayVio, and Lumileds launched IR LED for medical applications such as medical phototherapy, sterilization and purification for air, fluids, and surfaces, and machine vision.

Key Players

The Prominent Players in the Global Infrared LED Industry are Epileds Technologies (Taiwan), Epistar Corporation (Taiwan), Everlight Electronics Co. Ltd (Taiwan), Excelitas Technologies Corporation (US), High Power Lighting Corporation (Japan), Kingbright (Taiwan), OSRAM GmbH (Germany), Lextar Electronics Corporation (Taiwan), Lite-On Technology, Inc. (Taiwan), Nichia Corporation (Japan), Luna Optoelectronics (US), Marktech Optoelectronics (US), W�rth Elektronik GmbH & Co. KG (Germany), and Lumileds (US).

Segmentation

Based on spectral range, the market has been segmented into 700nm-850nm, 850nm-940nm, 940nm-1020nm, and 1020nm-1720nm.

Based on Application, the market has been segmented into biometrics, imaging, lighting, remote sensing, and surveillance.

Based on end use, the market has been segmented into aerospace & defense, automotive, BFSI, consumer electronics, e-commerce, education, healthcare, and others.

By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

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Regional Analysis

The Global Infrared LED Market has been segmented by region, into North America, Europe, Asia-Pacific, and the rest of the world.

Asia-Pacific is expected to be the largest market in the forecast period, followed by Europe, owing to the high concentration of optoelectronics market players and the easy availability of proficient technical expertise. Europe is expected to hold the second-largest share in the infrared LED market owing to the growing adoption of IR LEDs for automotive lighting applications. Germany is expected to generate the highest demand for IR LED in Europe during the forecast period.

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This release was published on openPR.