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Global Infrared (IR) LED Market to Witness 14.3% CAGR during 2017 - 2023

April 2017

According to a new market research report “Global Infrared LED Market Size, Share, Development, Growth and Demand Forecast to 2023 – Industry Insights by Industry (Surveillance, Consumer Electronics, Automotive and Others), and by Power (Low, Medium and High)” published by P&S Market Research, the global infrared LED market is projected to reach $784.8 million by 2023.

Explore Report Description at: https://www.psmarketresearch.com/market-analysis/ir-led-market

Global IR LED market to witness notable growth by 2023

As per the research, the global IR LED market is expected to reach $784.8 million by 2023, registering a CAGR of 14.3% during 2017 - 2023. An IR LED refers to infrared light emitting diode, which appears similar to the common LED, with the only difference that it emits light in infrared range of the electromagnetic radiation spectrum. Such LEDs are mainly composed of gallium arsenide or aluminum gallium arsenide. These LEDs, along with IR receivers, are usually used as sensors. IR LEDs are widely being used in the biometric ID applications, military applications and surveillance applications.


Insights on market segments

As per the findings of the research, the market for IR LED is expected to register the highest growth in Asia-Pacific, during the forecast period. The emerging countries in Asia-Pacific, including India, China and Vietnam, are making huge investments in new product launches in the IR LED market.

Surveillance industry has been contributing the largest revenue to the global IR LED market. IR LED offers night vision capability in military applications to provide effective vision in unclear atmospheric conditions, such as fog, smoke, dust and airborne obscurant. Night vision refers to the ability to see in total darkness, which is made possible by an amalgamation of acceptable intensity range and sufficient spectral range of electromagnetic spectrum. Increasing security concerns in developing as well as developed countries is driving the demand for surveillance devices and biometrics systems, globally. IR LEDs are being used in CCTV cameras, biometric ID applications, infrared imaging and various other applications in the surveillance industry.

Asia-Pacific – The largest infrared LED market

Geographically, Asia-Pacific has been the largest contributor to the global IR LED market and is also expected to register significant growth, during the forecast period. The growth of infrared based products, such as IR LED, IR emitter and receiver, in Asia-Pacific can be mainly ascribed to the growth of emerging economies of the region, including China and India. Moreover, Asia-Pacific has emerged as a hub for major original equipment manufacturers (OEMs) for miscellaneous infrared-related products, which makes it a booming market for IR LED.

China has been the largest revenue contributor to the global lighting industry, accounting for over 40% of the global production. A gigantic increase in the acceptance of security cameras has been observed across the globe. These cameras are integrated with number of rings of IR LEDs to offer night vision capabilities. Increasing popularity of these cameras is expected to generate higher demand for IR LEDs, especially in China, where majority of these cameras are being manufactured. Growth of the Chinese IR LED market is likely to propel the growth of the IR LED market in Asia-Pacific. Investment in research and development to launch new products and applications of IR LED in the emerging countries of Asia-Pacific, including Taiwan, Vietnam and South Korea, is the major factor propelling the growth of the IR LED market in the region.

Increasing demand from surveillance industry bolsters market growth

Surveillance industry is expected to contribute highest to the global IR LED market. Increase in installation of closed-circuit television (CCTV) cameras to inhibit unauthorized entry and access is expected to spur the growth of this market, over the next few years. CCTV cameras are integrated with IR LEDs as a key element that offers low-light level applications. Uninterrupted technological advancements in IR LED lead to more reliable and long lasting IR LEDs with advanced image enhancements. Additionally, integration of CCTV cameras with IR LED provides improved optical output and near-field imaging applications. These cameras are widely being owned by security conscious individuals, commercial establishments and governments across the globe.

Increase in terrorist attacks, vandalism and campus violence is creating the need for personal safety and security at public places, which is consequently driving the growth of the surveillance industry. Societal changes will continue to trigger security hazards, such as terrorist attacks, racism and nationalism. The changing nature of crime in the form of identity theft, property theft, vandalism and cybercrimes is expected to generate higher demand for digital CCTV, IP based video surveillance and remote monitoring systems. Accelerated demand for advanced electronic security solutions is likely to spur the growth of the global IR LED market in near future.

IR LEDs are widely being adopted in special biometric ID applications, such as iris recognition and facial recognition. For biometric ID applications, these LEDs are commonly used as an amalgamation of ID technologies and sensors. IR LEDs are being used as essential light sources of emerging technologies. With the growing demand for such technologies, the market for IR LED is expected to increase in near future. Moreover, favorable legal, social and political perspectives, surging investments in government security projects, expeditious proliferation of HD CCTVs and expanding applications of biometrics, are the major factors accelerating the demand for IR LEDs in the surveillance industry.

Intensity of rivalry remains high in the global IR LED market

The global IR LED market is highly fragmented due to the presence of large number of regional and international players across the globe. Due to the fragmented nature of the market, the competition among the global and regional players is high. It has also been observed that several large players are losing their market share owing to the new entrants, especially from China. Some of the major companies operating in the global IR LED market include EPILEDS, EPISTAR, EVERLIGHT, NICHIA., OSRAM Opto Semiconductors and Vishay Intertechnology.

GLOBAL IR LED MARKET SEGMENTATION

By Power

  • High (50.1mW - 100mW)
  • Medium (10.1mW - 50mW)
  • Low (1mW - 10mW)

By Industry

  • Consumer Electronics
  • Surveillance
  • Automotive
  • Others (Aerospace and Defense, Oil and Gas, Chemical Mining, Textile and Medical devices)

By Geography

  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Vietnam
    • Taiwan
    • Rest of Asia-Pacific
  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The U.K.
    • France
    • Italy
    • Rest of Europe
  • RoW
    • South Africa
    • Brazil
    • Mexico
    • Rest of RoW