Infrared LED Market: Emerging Opportunities, Trends and Forecast Analysis (2023-2029)

Infrared LED market was valued at US$ 616.03 Mn. in 2022 and expected to grow at a CAGR of 10.29 % during the forecast period (2023-2029). Thanks to the growing trend of imaging segment use have boosted demand for Global Infrared LED Market.
Infrared LED Market Overview:
An infrared LED is a semiconductor device that emits infrared signals when exposed to an electronic current. They are made of aluminum gallium arsenide or gallium arsenide. These are invisible because of their longer wavelength. Different types of infrared LED are small power LED, medium power LED and high power LED. They are used in signal transfer devices like televisions and cameras, etc. The infrared LED is becoming more popular because they are cheap, reliable, and have a long shelf life. Increasing usage of infrared LED in the machine to machine environment and internet of thing (IoT) devices due to its low power consumption and low heat generation capacity creates a huge demand for infrared LED devices. As a result, the global infrared LED market is expected to reach US$ 1222.81 Mn. by 2029.To know about the Research Methodology :- Request Free Sample Report
Infrared LED Market Dynamics:
The increasing population and growing demand for consumer electronics in households are driving the market growth. These infrared LED are used in television remote controls, automatic door controls, and also in IR video or audio communication. Growing demand for night vision cameras adds an advantage to the market growth. Because this infrared light illuminates objects at the night and provides high-quality nighttime surveillance video. In December 2022, “MOBOTIX AG” a global major in camera technology developed an omnidirectional camera by combining infrared and white light. It is possible to record color videos at night.

The development of the gaming industry and the increasing need for infrared LED in machine vision and safety are fueling the global market growth. Infrared LEDs are used in Microsoft Xbox for gesture control and recognition are booming the global market. PlayStation a global major in the gaming industry launched its PS5 and the company is expecting to touch of US$ 88 Bn in the overall games market. The development of intelligence lighting in the industrial internet of things (IIOT), and dynamic machine vision system are adding advantages to the growth of the market.

The growing need for infrared LED in surveillance like automatic number plate recognition and biometrics for Irish, fingerprint, and facial recognition are anticipating the market growth. Recently a global leader in semiconductor “OSRAM” has introduced SFH 4171S and SFH 4181S infrared LED sensors for face biometric in laptops.

The development of new technologies like UV LEDs and IREDs for domestic and automotive applications is attracting the global market. The use of LED in vision systems to recognize objects in difficult lighting conditions like surfaces and movements of objects are positively increasing the growth of the infrared LED market.

Some of the factors slowing the growth of the global infrared LED market are low penetration of technology in several regions, declining the cost of components, the difficulty of using an infrared camera indoors due to the presence of reflective surfaces like steel and glass doors, non-working of infrared frequencies through hard objects like walls and door and presence of shorter-range degrading its performance. The presence of a shorter range and effects of environmental conditions like fog, dust, and pollution is becoming a roadblock to market growth.
Infrared LED Market Segmentation:
Based on Spectral Range, The Infrared LED market is sub-segmented into 700nm-850nm, 850nm-950nm, and 950nm-1020nm. The 850nm-950nm segment dominates the global market and it held a share of 51% in 2022. Growing demand for electric vehicles and technological development for night vision are attributed to the market growth. By the use of infrared LED in the headlamp of vehicles, a driver can easily recognize the objects and growing concern toward road safety is also adding an advantage to the global market. Due to its longer illumination range, widely used in CCTV cameras, the gaming industry, and in commercial 3D printing applications. The growing use of the 850nm-950nm segment in the security, surveillance, and automotive industry driving the global market positively.

Based on Application, the Infrared LED market is sub-segmented into imaging, lighting, remote sensing, and biometrics. The imaging segment dominates the market and was valued at US$ 164.92 Mn. in 2022. The growing need for security cameras due to increasing thieves and robbing activities is driving the imaging segment in the infrared LED market. Use of infrared LED in CCTV cameras provides high-quality images even in night time also which enables easy record of evidence, monitor suspicious activities and provide better work safety. Growing passion towards the wildlife documentary and the need for high-quality images in medical equipment add an advantage to the market growth. Infrared LED enabled cameras to provide better night vision video recording without disturbing the animals and infrared therapy in healthcare sectors for heating body tissues from inside to reduce infections and promote healing.

Based on the End-Use Segment, The Infrared LED market is sub-segmented into Consumer electronics, Healthcare, Industrial and BFSI. The consumer electronics segment dominates the market and it held a share of 47% in 2022. Rapid growth in the production of televisions and growing global attraction towards IoT devices are creating a huge demand for Infrared LED systems. Increasing developments in indoor and outdoor monitoring systems for controlling moving objects and its speed and door monitoring systems are adding advantage to the market growth. Healthcare segment dominating sector in infrared LED market. The factors slowing its growth is infrared therapy can causes thermal injury without pain. So it is avoided for pregnant women’s and peoples with heart diseases.
Infrared LED Market regional insights:
Asia-Pacific is the dominating region in the global Infrared LED market. Presence of largely populated countries like china and India, increasing disposal income and changing lifestyle of the people propelling the market growth. New startup from china known as “Maxic Technology” received funding from “Sharewin Investment” for development of wireless charging chips and LED drivers. Development of new technology by SHINEON, an infrared LED manufacturer like IR VCSEL. Which is designed for filtering noise detection and TWS in ear detection. These recent advancement expecting to boost the global market positively. Joint venture by OSRAM and CONTINENTAL for the development intelligent light solution in automotive industry is expecting to fuel the global market.

North America is the second dominating region in the global infrared LED market. High production of electric vehicles, technological innovations and advanced use of health care equipment’s are driving the Infrared LED market growth in this region. In May 2022, PHOSEON TECHNOLOGY launched FireJet and FireEdge NIR explorer near infrared lamps for 3D printing and pinning on low migration application expecting to boost global market.

Growing use of infrared LED in military operations for identifying weaponised devices and hidden bombs, and visibility of targets at bad weather conditions like dust and fog etc.

The objective of the report is to present a comprehensive analysis of the global Infrared LED market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Infrared LED market dynamics, structure by analyzing the market segments and projecting the Infrared LED market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Infrared LED make the report investor’s guide.
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Infrared LED Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $  616.03 Mn.


Forecast Period 2023 to 2029 CAGR:
10.29 %
Market Size in 2029:
US $ 1222.81 Mn.


 Segments Covered:
by Spectral range
• 700nm-850nm
• 850nm-950nm
• 950nm-1020nm


by Application
• Imaging
• Lighting
• Remote sensing
• Biometrics


by End-use
• Consumer electronics
• Healthcare
• Industrial
• BFSI



Infrared LED Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina, Columbia and Rest of South America)
Infrared LED Market, Key Players are:
• Epistar Corporation
• Everlight Electronics Co. Ltd
• Excelitas Technologies Corporation
• High Power Lighting Corporation
• Kingbright
• OSRAM GmbH
• Lextar Electronics Corporation
• Lite-On Technology, Inc
• Nichia Corporation
• Luna Optoelectronics
• Marktech Optoelectronics
• Würth Elektronik GmbH & Co. KG
• Lumileds
• Koninklijke Philips N.V.
• TE Connectivity
• ROHM Co. Ltd.
• ON Semiconductor
• Opto Semiconductors GmbH
• Ushio OPTO Semiconductors Inc.
• Vishay Intertechnology, Inc.

Frequently Asked Questions:

1. Which region has the largest share in Infrared LED Market?
Ans: Asia-Pacific held the largest share in 2022.

2. What is the growth rate of the Infrared LED Market?
Ans: The Infrared LED Market is growing at a CAGR of 10.29 % during the forecasting period 2023-2029.

3. What segments are covered in Infrared LED Market?
Ans: Infrared LED Market is segmented into spectral range, application, and end-use.

4. Who are the key players in Infrared LED Market?
Ans: Epistar Corporation, Everlight Electronics Co. Ltd, Excelitas Technologies Corporation, High Power Lighting Corporation, Kingbright, OSRAM GmbH, Lextar Electronics Corporation, Lite-On Technology, Inc, Nichia Corporation, Luna Optoelectronics, Marktech Optoelectronics, Würth Elektronik GmbH & Co. KG, Lumileds, Koninklijke Philips N.V., TE Connectivity, ROHM Co. Ltd., ON Semiconductor, Opto Semiconductors GmbH, Ushio OPTO Semiconductors Inc., Vishay Intertechnology, Inc.

5. What is the study period of this market?
Ans: The Infrared LED Market is studied from 2023 to 2029.