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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): USD 48 billion (global LED lighting market)
- Forecast CAGR (2021-2026): 12% (global LED lighting market)
- Forecast Market Size (2026): USD 95 Billion (Global LED Lighting Market)
The IR LED market is supported by strong growth in automotive sectors. IR LEDs are used in advanced vehicle electronics that are propelling industry growth. They are used in several outdoor applications such as night vision, pedestrian protection and lane recognition which further increase the growth of the market. The use of IR LEDs in security alarms and surveillance cameras due to the increase in theft and property damage is driving the growth of the IR LED industry. Growing internet penetration, technological advancement and increasing usage of digital banking services and mobile wallets require advanced security system which is contributing to the market growth. Additionally, the growing use of remote controls in smart homes and smart offices is bolstering the growth of the market.
Industry definition and major segments
An IR LED, known as an infrared light-emitting diode, is usually made of gallium arsenide or gallium aluminum arsenide and emits infrared rays ranging from 700 nm to 1 mm in wavelength. It is invisible to the naked eye and hence is used in several devices such as surveillance cameras, night vision goggles, and security alarms among others.
The market can be categorized on the basis of its technology as follows:
The spectral ranges of the IR LED are as follows:
- 700nm – 850nm
- 850nm – 950nm
- 950nm – 1020nm
- 1020nm – 1720nm
On the basis of applications, the industry is segmented into:
Based on end uses, IR LED can be divided as follows:
The major regions of the IR LED industry are as follows:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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The IR LED industry is driven by the low power consumption, cost effectiveness and low heat generation of IR LEDs. The increasing use of environmentally friendly products due to rapid climate change is expected to further contribute to the growth of the industry. Growing use of IR LED in latest technological advancements such as Internet of Things (IoT) and machine-to-machine (M2M) environments is expected to propel the growth of the market. The increasing use of IR LEDs in various healthcare industry applications such as infrared therapy is catalyzing the growth of the market. Moreover, the increasing use of IR LED in several medical devices for endoscopy and blood analysis, among others, is expected to further promote the growth of the industry.
Main market players
The major market players are OSRAM Opto Semiconductors GmbH, EPILEDS Technologies, Inc., Epistar Corporation, Nichia Corporation, Kingbright Company, LLC, Everlight Electronics Co., Ltd, and ROHM Co., Ltd., among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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