Market Overview
Market Research Future (MRFR), in its latest Global Infrared LED Market 2020, studies both long term and short term impact of COVID-19 pandemic on the infrared LED market. As per MRFR study, the increase in the Global Infrared LED Market valuation from USD 2,288.88 Mn to USD 4,827.54 Mn from 2018 to 2025 can be attributed to increase in the need for LEDs in different applications. The Global Infrared LED Market can rise at 16.10% CAGR across the forecast period.
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The special-purpose LEDs those are fabricated of aluminum gallium arsenide and gallium arsenide and emit infrared rays of 7nm to 1mm wavelength are widely used. The rise in IR LEDs application of varied wavelength can promote the expansion of the world market in years to come. The infrared LED of 940nm wavelength to apply remote controllers and the highly used IR LED for 808nm wavelength for medical treatment appliances also with space optical communication can promote the expansion of the market in years to come.
Key Players
MRFR registered major Players in the world Global Infrared LED Market. They are; Epistar Corporation (Taiwan), Kingbright (Taiwan), Epileds Technologies (Taiwan), Excelitas Technologies Corporation (US), OSRAM GmbH (Germany), High Power Lighting Corporation (Japan), Marktech Optoelectronics (US), Nichia Corporation (Japan), Everlight Electronics Co. Ltd (Taiwan), Lite-On Technology, Inc. (Taiwan), Luna Optoelectronics (US), Würth Elektronik GmbH & Co. KG (Germany), Lumileds (US), Lextar Electronics Corporation (Taiwan), and LUXEON IR ONYX among others.
Segment Study
The segment study of the world Infrared LED Market are based on Application, spectral Range, and End Use.
The Spectral Range based segments of the Infrared LED Market are 850nm–940nm, 700nm–850nm, 1020nm–1720nm, and 940nm–1020nm. The 700nm–850nm segment can dominate the world infrared LED market. The rise in the adoption of iris recognition and facial recognition in consumer electronics can boost the expansion of the market.
The Application based segments of the market are lighting, biometrics, imaging, surveillance, and remote sensing. The surveillance segment can rise at a high pace due to the high adoption of IR LED in night vision cameras.
The End Use based segments of the market are automotive, consumer electronics, BFSI, aerospace & defense, healthcare, e-commerce, and education among others. The automotive segment can contribute largely to the expansion of the market. The healthcare segment of the market can rise at the highest pace with greater CAGR across the forecast period as the need for IR LEDs in neurology devices and dermatology rise.
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Regional Analysis
The rise in APAC Global Market for Infrared LED at a significantly high rate across the forecast period from 2019 to 2025. The Infrared LED market in other regions, such as Asia-Pacific, North America, Europe, and the rest of the world are expected to rise at a high pace in years to come.
In Asia Pacific, the growing need for Infrared LEDs across 2019 to 2025 can underpin the growth of the in years to come. The increase in the concentration of optoelectronics producers can underline the expansion of the world market in years to come. The easy availability of effective technical expertise and high investments made by governments can drive the expansion of the world market across the assessment period.
In Europe, the infrared LED market can secure the second largest share of the global market across assessment period. The rapid rise in automotive sector can boost the expansion of the world market. Germany is observed to be a highly lucrative market in the Europe in the years to come.
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