IR LED Market Size, Share & Trends Estimation Report By Type Outlook (700nm-850nm, 850nm-950nm, 950nm-1020nm) By Application Outlook (Imaging, Lighting, Remote Sensing, Biometrics) By Region, and Forecasts 2023 - 2030.
The Global IR LED Market Size Was Valued At USD 53.81 Billion In 2021 And Is Projected To Reach USD 156.57 Billion By 2030, And Is Growing At A CAGR Of 12.6% From 2022 To 2030.
An IR LED Market is a light-emitting diode with a special purpose that emits an IR signal at a longer wavelength. These devices produce inexpensive and efficient infrared light and can emit electromagnetic radiation between 700 nanometers and 1 millimeter. Infrared LEDs are utilized extensively in signal transmission systems, such as TV remote controls, infrared cameras for surveillance and night vision, and more. Due to their low heat output and low power consumption, these LEDs have gained popularity in the electronics industry.
The increasing popularity of smart homes and offices in various developing nations presents opportunities for IR LED market participants. In smart homes, the increasing use of IR technology for remote control of televisions, music systems, and lighting is driving market expansion. 47 percent of Americans, according to the National Home Safety Council, own a smart home product. With the implementation of infrared technology, innovative smart home devices have been developed.
Due to a lack of raw materials and low demand for finished products, COVID-19 is anticipated to have a significant impact on the global electronics devices market. The global spread of the COVID-19 virus poses supply- and demand-side challenges for the infrared LEDs market. Prior to COVID-19, it was anticipated that the global market for infrared LED would increase by 6-7% in 2020; however, after COVID-19, it is anticipated that the market for infrared LED will decline by nearly 2-3% compared to the original forecast. However, once the COVID-19 pandemic situation is under control by the end of the fourth quarter of 2020, the market is anticipated to resume steady growth by 2021.
Due to the extensive use of infrared LEDs in various applications and devices within the surveillance industry, this sector generates the most revenue for the global IR LED market. There has been an exponential rise in the use of security cameras. These cameras are equipped with multiple rings of infrared (IR) LEDs for night vision. The increasing popularity of these cameras is anticipated to increase demand for infrared (IR) LEDs, particularly in China, the leading producer of these cameras. The expansion of the Chinese IR LED market is likely to stimulate the expansion of the Asia-Pacific IR LED market.
- Advancement of Technology
The advancement of technology is one of the key factors driving the infrared (IR) LED market. The conventional light emitting diodes (LEDs) used for infrared (IR) applications were composed of gallium arsenide (GaAs). With the introduction of new materials, such as gallium nitride (GaN), indium gallium arsenide (InGaAs), and aluminum gallium arsenide (AlGaAs), the efficiency of infrared (IR) LEDs has increased significantly. In addition, it is anticipated that the ongoing research and development in the field of nanotechnology will increase the efficiency of IR LEDs in the coming years.
- Increased Use of Infrared (IR) Sensors
Increased use of infrared (IR) sensors in a variety of industries, such as aerospace and defense, oil and gas, chemical-mining, and pharmaceutical, is a significant factor driving the global demand for IR LEDs. North America has been the largest contributor to the global IR sensor market in terms of revenue, which has led to an increase in demand for IR LEDs in the region. In the coming years, the growing demand for infrared (IR) sensors in the United Kingdom, France, Italy, and Germany will likely drive the market for IR LEDs in the European Union. Nonetheless, Asia-Pacific is anticipated to experience the highest growth in the adoption of IR sensors over the forecast period, which will likely drive the expansion of the IR LED market in this region.
- Growing Adoption of Application
The increasing use of infrared (IR) LEDs in a variety of applications, such as night vision, thermal imaging, motion detection, and optical fiber communication, is another significant factor driving the market. The automotive and security & surveillance industries are anticipated to increase their demand for night vision devices over the next few years, which will lead to a significant increase in night vision applications.
- Lack of Awareness
Lack of awareness about the product is one of the major restraints on the growth of the infrared LED market. The benefits of utilizing infrared LEDs are not widely understood, and they are not widely known. This hinders the use of infrared LEDs in a variety of applications.
- High Cost
The high cost of the product is another major factor inhibiting the growth of the infrared LED market. Infrared LEDs are more expensive than other LEDs, which hinders their use in various applications.
- Limited Application Areas
Compared to other LEDs, infrared LEDs have a smaller number of application areas. This is one of the most significant factors inhibiting the growth of the infrared LED market.
- Technical Challenges
Technical Obstacles One of the most significant obstacles faced by manufacturers of infrared LEDs is the development of products with higher efficiencies and longer lifetimes. To be commercially viable, infrared LEDs must have an efficiency of approximately 40 percent and a lifetime of more than 50,000 hours.
- Infrared LED packages are in high demand for use in security cameras and access control
- In Feb 2021 - Showa Denko K.K. Showa Denko (SDK) (TOKYO: 4004) has purchased a 50% stake in AMI Automation.
- In Oct 2020 - DOWA has been assisting Japan’s economic growth as it modernizes in the field of nonferrous metals. It has continued to grow by diversifying its operations into new fields that can benefit from its technologies anad experiences.
- In July 2020 - The world leader in memory solutions, KIOXIA Holdings Corporation, announced today that it expects to complete its acquisition of LITE-ON Technology Corporation’s Solid State Drive (SSD) business.
- NICHIA CORPORATION
Nichia is a Japanese firm established in 1956. The company's main office is located in Tokushima, Japan. Nichia is an industry leader in the production of optoelectronic products, including LEDs. The company has a significant presence in the IR LED market and provides a vast selection of products.
- Kingbright Electronic Co.Ltd
Kingbright group was one of Taiwan's LED pioneers when it was founded in 1980. In the past thirty years, they have expanded from a small local business to a multinational corporation with operations in Europe, North America, and Asia. There are numerous applications for Kingbright products, including computers, consumer electronics, automobiles, and lighting.
- OSRAM Opto Semiconductors GmbH
The German company Osram Opto Semiconductors was founded in 1999. The company's main office is located in Munich, Germany. Osram Opto Semiconductors is an industry leader in the production of optoelectronic components, including LEDs. The company has a significant presence in the IR LED market and provides a vast selection of products.
- Epistar Corporation
The Taiwanese company Epistar was founded in 1986. The company's main office is located in Hsinchu, Taiwan. Epistar is an industry leader in the production of optoelectronic products, including LEDs. The company has a significant presence in the IR LED market and provides a vast selection of products.
- Everlight Electronics Co. Ltd.
In 1983, Everlight Electronics Co., Ltd. was established in Taipei, Taiwan. Due to its commitment to certification, R&D, production, quality, marketing, and global customer service, the company is rapidly ascending to become a leading supplier, having played a crucial role in the formation of the global LED industry.
- High Power Lighting Corporation
HPL is a specialized LED manufacturer with patent-protected and cutting-edge technologies. The HPL management team is comprised of elite professionals from various fields, such as LED chip manufacturing and related component manufacturers. HPL focuses on high-power LED design, proprietary packaging, and module production.
- EPILEDS Co. Ltd.
The EPI LEDS Co., Ltd. was founded on 12 June 2006, with approval from the National Science Council and a location in Tainan Science Park. EPI LEDS focuses on the research and development, design, production, and sale of blue, green, red, and white light LED wafers and chips.
- ON Semiconducts
onsemi's disruptive innovations are helping to build a better future. Focusing on automotive and industrial end markets, the company is accelerating change in megatrends including vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure.
- Koninklijke Philips N.V.
Philips is a diversified technology company that develops and manufactures consumer electronics and medical systems. The company provides diagnostic imaging, enterprise diagnostic informatics, image-guided therapy, ultrasound, monitoring and analytics, sleep and respiratory care, population health management, connected care informatics, and therapeutic care products and solutions.
- Lextar Electronics Corpo
Lextar Electronics Corporation is the foremost Optosemiconductor manufacturer integrating upstream epitaxial, chip, and downstream package, SMT, and module. Lextar was founded on May 23, 2008, as a subsidiary of AU Optronics, the leading manufacturer of TFT-LCDs and solar photovoltaics. Lextar specializes in LED epi, chips, and packaging production.
The Global Infrared LED Market is Segmented on the basis of type, application, and region.
By Type Outlook:
The market is segmented based on Type into 700nm-850nm, 850-950nm, and 950nm-1020nm. The 850nm-950nm wavelength range accounts for 51% of the global market share. The expansion of the market can be attributed to the increasing demand for electric vehicles and the technological advances in night vision. The use of infrared LEDs in vehicle headlamps enables drivers to easily identify objects, and the rising concern for road safety is also providing an advantage to the global market.
Due to its greater illumination range, it is utilized extensively in CCTV cameras, gaming, and commercial 3D printing. The increasing use of the 850nm-950nm segment in the security, surveillance, and automotive industries drives the global market in a positive direction, thereby boosting the growth of the Infrared LED Market globally.
By Application Outlook:
The market is segmented by Application into Imaging, Lighting, Remote Sensing, and Biometrics. The imaging market segment is anticipated to be worth 164.92 million US dollars in 2020. The rising demand for security cameras due to an increase in theft and robbery is driving the imaging segment of the Infrared LED Market. CCTV cameras equipped with infrared LED provide high-quality images even at night, facilitating the recording of evidence, the monitoring of suspicious activity, and the improvement of workplace safety.
The increasing popularity of wildlife documentaries and the demand for high-quality images in medical equipment contribute to the expansion of the market. Infrared LED-enabled cameras for better night vision video recording without disturbing animals, as well as infrared therapy in the healthcare sector for heating body tissues from the inside to reduce infections and promote healing, will increase the global market for infrared LEDs.
- Remote Sensing
Geographically, the global IR LED market has been broken down into numerous regions, including North America, Latin America, the Middle East, Asia-Pacific, Africa, Europe, and India. In the future, the global IR LED region will dominate this market.
North America, East Asia, and Europe are anticipated to dominate the global infrared (IR) LED market due to the rising demand for IR LEDs in automotive industry applications such as electric vehicles, connected cars, and autonomous vehicles.
Increasing demand for CCTV cameras in South Asia and the Pacific will create new growth opportunities for infrared (IR) LED market participants. The Infrared (IR) LEDs market report is a compilation of primary data, qualitative and quantitative assessments by industry analysts, and the opinions of industry experts and key industry participants from across the value chain.
- 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
Scope of Report:
|Units||Value (USD Billion)
|Growth Rate||CAGR of 12.6% from 2023 to 2030|
|Reasons to Purchase this Report and Customization Scope||
- The report contains a plethora of information, including market dynamics scenario and opportunities for the foreseeable future.
- Regional, sub-regional, and national-level data includes demand and supply forces as well as their impact on the market.
- The competitive landscape consists of the market share of key players, new developments, and strategies implemented within the past three years.
- Detailed companies offering products, pertinent financial information, recent developments, SWOT analysis, and player strategies.