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

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Global Infrared (IR) LED Market to Witness 14.3
CAGR during 2017 2023
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Global Infrared (IR) LED Market
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 PS 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/i
r-led-market
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Global Infrared (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.
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Global Infrared (IR) LED Market
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.
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Global Infrared (IR) LED Market
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.
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Global Infrared (IR) LED Market
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.
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Global Infrared (IR) LED Market
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.
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Global Infrared (IR) LED Market
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.
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Global Infrared (IR) LED Market
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