The global IR LED Market size was valued at USD 53.81 Billion in 2021 and is projected to reach USD 156.42 Billion by 2030, and is growing at a CAGR of 12.6% from 2022 to 2030.
IR LED Market Overview:
An IR LED Market is a special purpose light emitting diode that radiates an IR signal at a longer wavelength. These devices produce infrared light cheaply and efficiently, and can deliver electromagnetic radiation in the 700 nanometer to 1 millimeter range. Infrared LEDs are widely used in signal transmission systems, including TV remote controls, infrared cameras for surveillance and night vision, and more. Due to low heat generation and low power consumption, these LEDs have gained high appeal in electronics.
The rising trend of smart homes and smart offices in various developing countries offers opportunities for IR LED market players. Increasing application of IR technology for remote control of TVs, music systems, and lighting in smart homes is driving the market growth. According to the National Home Safety Council, 47 percent of Americans own a smart home product. With the implementation of infrared technology, this has led to the development of innovative smart home devices.
IR LED market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global IR LED market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global IR LED market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Significant IR LED Market Dynamics and Growth Factors:
Growing demand for infrared IR LED packages for security cameras and access control is expected to create huge opportunities for the global infrared (IR) LED market. Increasing demand for infrared (IR) LEDs in automotive sensing and license plate scanning applications is driving the growth of the infrared (IR) LED market.
Emerging technology trends such as the Internet of Things, autonomous driving assistance systems, augmented reality, and artificial intelligence will also positively impact the demand for infrared (IR) LED products. The use of infrared technology and innovative features in automobiles to enhance driving efficiency, safety, and comfort is expected to drive the demand for infrared LEDs market over the forecast period.
Top Key Players include in the IR LED Market are
NICHIA CORPORATION, Kingbright Electronic Co., Ltd, OSRAM Opto Semiconductors GmbH, Epistar Corporation, Everlight Electronics Co. Ltd., High Power Lighting Corporation, EPILEDS Co. Ltd., ON Semiconducts, Koninklijke Philips N.V., Lextar Electronics Corpo, and others.
The IR LED market research report is categorized based on type, applications and region.
On the Basis of Type:
- IR LED Chip
- IR LED Package
On the Basis of Application:
- Optical Sensing
- Automated Drive Systems
- Security & Surveillance
On the Basis of Region:
Geographically, the global IR LED market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global IR LED region is dominating this market in the upcoming future.
Among these regions, North America, East Asia, and Europe are expected to dominate the global infrared (IR) LED market owing to increasing demand for IR LEDs in automotive industry applications such as electric vehicles, connected cars, and autonomous vehicles in this region.
Growing demand for CCTV cameras in South Asia and Pacific will create new growth opportunities for players in the infrared (IR) LED market. The Infrared (IR) LEDs market report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and opinions of industry experts and industry players across the value chain.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
IR LED Market report scope
The major key questions addressed through this innovative research report:
What are the major challenges in front of the global IR LED market?
Who are the key vendors of the global IR LED market?
What are the leading key industries of the global IR LED market?
Which factors are responsible for driving the global IR LED market?
What are the key outcomes of SWOT and Porter’s five analysis?
What are the major key strategies for enhancing global opportunities?
What are the different effective sales patterns?
What will be the global market size in the forecast period?
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