Global Infrared LED Market to Grow with a CAGR of 9.8% through 2028
The global infrared LED (IR LED) market is
experiencing robust growth due to its widespread applications in various
industries, including consumer electronics, automotive, and security.
According to the TechSci Research report, “Infrared LED Market – Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”,
the Global Infrared LED market stood at USD681.12 million in 2022 and is
anticipated to grow with a CAGR of 9.8% in the forecast period, 2024-2028. The
global Infrared LED (IR LED) market is a dynamic and rapidly evolving sector
within the broader semiconductor and optoelectronics industry. Infrared LEDs,
also known as infrared light-emitting diodes, play a pivotal role in various
applications, from consumer electronics to automotive and industrial sectors.
The history of Infrared LEDs dates back to the
early 1960s when researchers and engineers began experimenting with
semiconductor materials to produce light in the infrared spectrum. The
development of gallium arsenide (GaAs) and other compound semiconductors paved
the way for the commercialization of IR LEDs. The first practical application
of IR LEDs was in remote controls, where they replaced traditional mechanical
switches, offering greater reliability and convenience.
Over the decades, advancements in semiconductor
technology, materials science, and manufacturing processes have propelled the
growth of the IR LED market. The evolution from simple, low-power IR emitters
to high-efficiency, high-power devices has expanded the range of applications
for these components, driving their adoption across various industries.
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Pages and an in-depth TOC on "Infrared LED Market.”
The consumer electronics sector is a significant
driver of the global IR LED market. IR LEDs are crucial components in
smartphones, smart TVs, gaming consoles, and other devices. They enable
features such as facial recognition, gesture control, and remote operation. The
proliferation of these technologies has led to an ever-increasing demand for IR
LEDs.
The automotive industry relies on IR LEDs for
various applications, including advanced driver assistance systems (ADAS),
night vision systems, and interior lighting. The increasing focus on vehicle
safety, automation, and improved visibility in challenging conditions has led
to a growing demand for IR LEDs in the automotive sector.
Infrared LEDs are integral to security and
surveillance systems, enabling night vision capabilities and enhancing the
effectiveness of cameras in low-light or no-light conditions. The need for
robust security solutions has driven the adoption of IR LEDs in both residential
and commercial settings.
In the healthcare sector, IR LEDs are used in
medical devices for applications such as pulse oximetry, blood glucose
monitoring, and non-invasive diagnostics. In biotechnology, IR spectroscopy and
imaging techniques rely on precise IR LED emissions for molecular analysis and
research. IR LEDs are employed in industrial automation and robotics for tasks
such as object detection, proximity sensing, and quality control. Their
reliability and precision make them essential components in industrial
applications.
As consumer electronics and portable devices
become smaller and more compact, there is a growing trend toward miniaturized
IR LEDs. These components enable the design of sleeker and more efficient
products. Advances in semiconductor materials and fabrication techniques are
leading to the development of IR LEDs with precise wavelength control. This is
essential for applications such as spectroscopy and optical communication. The
demand for high-power IR LEDs is on the rise, especially in the automotive
sector for applications like ADAS and LiDAR (Light Detection and Ranging)
systems. These components offer increased illumination and detection
capabilities.
The global infrared LED market is segmented based
on spectral range, application, and region. Based on the spectral range, the
market is segmented into short-wave infrared LED, medium-wave infrared LED,
long-wave infrared LED. Among these, medium-wave infrared LED has a significant
share in the global infrared LED market during the forecast period. MWIR LEDs
are extensively used in defense and security applications, including thermal
imaging cameras, night vision goggles, and surveillance systems. Their ability
to detect heat signatures and provide clear images in low-light and adverse
weather conditions makes them crucial for military and law enforcement
operations. As national security concerns persist globally, the demand for MWIR
LEDs in this sector remains robust.
Based on region, the market is segmented into North
America, Europe, Asia Pacific, Middle East & Africa, and South America. Among
these, the Asia Pacific region has a significant share of the global infrared
LED market during the forecast period. Asia Pacific, particularly countries
like China, Taiwan, South Korea, and Japan, has established itself as a
dominant manufacturing hub for semiconductor and optoelectronic components,
including IR LEDs. These countries boast advanced fabrication facilities and a
skilled workforce, enabling efficient production of IR LEDs at competitive
costs. This manufacturing prowess not only fulfills domestic demand but also
fuels exports to global markets.
Major companies operating in the global infrared
LED market are:
- ON Semiconductors
- EPILEDS Co. Ltd
- Koninklijke Philips N.V
- OSRAM Opto
Semiconductors GmbH
- Epistar Corporation
- NICHIA CORPORATION
- Kingbright Electronic
Co., Ltd
- Everlight Electronics
Co. Ltd
- Lextar Electronics
Corporation
- High Power Lighting Corporation
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“The global IR LED market is a dynamic and
multifaceted industry with a wide range of applications across sectors. The
market's growth is driven by technological advancements, expanding consumer
demands, and the need for innovative solutions in diverse fields. As industries
continue to evolve and integrate IR-based technologies, the IR LED market is
poised for sustained growth and innovation in the years to come.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Infrared LED Market By Spectral Range (Short-wave
Infrared LED, Medium-wave Infrared LED, Long-wave Infrared LED), By
Application (Biometrics, Imaging, Lighting, Remote Sensing, Surveillance), By
Region, By Competition Forecast & Opportunities,
2018-2028F,
has evaluated the future growth
potential of the infrared LED market globally and provides statistics and
information on market structure, size, share, and future growth. The report
provides cutting-edge market intelligence and helps decision-makers to make sound
investment decisions. Besides, the report also identifies the emerging trends
along with essential drivers, challenges, and opportunities present in the
market of infrared LED globally.
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