According to Technavio’s latest market research study, the global infrared LED market is expected to grow at a CAGR of close to 13% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global infrared light-emitting diode (LED) market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application type
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The top three revenue contributing application segments are discussed below:
Global infrared LED market for surveillance applications: Infrared LEDs have proven to be a valuable source of light for CCTV cameras that are used for low light levels and night vision applications. The rising demand for CCTV cameras is likely to propel the demand for infrared LED market for surveillance applications during the forecast period.
“Typical surveillance cameras prefer CMOS sensors paired with 850-nm infrared LEDs to derive the best price-performance ratio. However, some high-end surveillance cameras integrate more expensive 940-nm infrared LEDs, as they are less likely to create a visible red dot in comparison to the 850-nm infrared LEDs,” says Sunil Kumar Singh, a lead analyst at Technavio for research on lighting.
Global infrared LED market for consumer electronics: The incorporation of infrared LEDs in consumer electronics is driven by the need to offer value-added features in the products, such as information security and vital health statistics. Most of the wearable devices such as Apple Watch, Mi Band 2, and FitBit Charge 2 are integrated with an infrared LED to measure the vital health statistics of a user. Consumer electronics is projected to be the fastest-growing application segment of the global infrared LED market between 2017 and 2020.
Global infrared LED market for automotive applications: Innovation in the field of safety systems, infotainment, advanced driver assistance systems (ADAS), telematics, and autonomous driving is the driving force behind the adoption of infrared LEDs in the automotive sector. During the forecast period, the integration of forward looking infrared systems, which include infrared LEDs, is anticipated to propel the growth of the infrared LED market for automotive applications.
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The top vendors operating in the global infrared LED market are:
- EPILEDS
- EPISTAR
- EVERLIGHT
- NICHIA
- OSRAM Opto Semiconductors
- Vishay Intertechnology
Other prominent vendors in the market include Cree, High Power Lighting, Lextar Electronics, Lite-On Technology, Lumileds, MLS Electronics, and TOYODA GOSEI.
A more detailed analysis is available in the Technavio report titled, ‘Global Infrared LED Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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