Infrared LED Market Subjected to Expand to Showcase Rampant Growth by 2025
Market Overview
In its research report, Market Research
Future (MRFR), emphasizes that over the review period, the global Infrared
LED market 2020 is
projected to rise exponentially, securing a significant market valuation and a
healthy CAGR.Drivers and Restraints
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Infrared LEDs are commonly adopted
because of advantages such as affordability, low power consumption and simple
deployment. They record growing adoption across the automotive and healthcare
sectors. Moreover, favorable government legislation and declining IR receiver
prices improve the use of IR LEDs in various products. Increasing popularity of
these devices among DIY (do-it-yourself) security cameras end-users is
anticipated in support of demand from industry. Growing security issues and
ever-expanding smartphone industry are meeting global demand from infrared
LEDs. Growing construction of smart homes and commercial complexes in the
coming years would require more secure equipment for the safety purposes.
Technological developments in infrared LEDs in the fields of defense,
photography, illumination, automotive and consumer electronics are expected to
drive global demand for infrared LEDs. But the lack of global standards
relevant to IR LEDs is expected to restrict market growth. The that acceptance
of facial recognition and iris recognition in consumer electronic devices in
the coming years is expected to boost demand for IR LEDs.
Segmental
Analysis
The Global Infrared
LED Market was segmented based on spectral Range, Application, End Use and
Area.
The market was
segmented by Spectral Spectrum into 700nm–850 nm, 850nm–940 nm, 940nm–1020 nm
and 1020nm–1720 nm. In 2018 the segment 700nm–850 nm is projected to dominate
the market. The highest CAGR is also expected to be recorded over the forecast
period. The main contributor to this segment's growth is the increase in
consumer electronics adoption of features such as facial recognition and iris
recognition.
The market was
segmented by application into biometrics, imaging, illumination, remote
sensing, and surveillance. It is estimated that the surveillance segment will
account for the greatest market share. The main driver for the market is the
growing adoption of IR LED in night vision cameras. The imaging segment is
expected to record the highest CAGR over the forecast period, however.
The market was
segmented by End Use into aerospace & defense, automotive, BFSI, consumer
electronics, e-commerce, education, healthcare, and other industries. It is
expected that the automotive segment will have the largest market share. OSRAM
launched a 940 nm IR LED in 2018 which allows for facial recognition of the
automotive. Nonetheless, due to the growing adoption of IR LEDs in dermatology
and neurology products, the healthcare segment is expected to register an
significant CAGR during the forecast era.
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Report Details @ https://www.marketresearchfuture.com/reports/infrared-led-market-8707
Regional
research
The global
business regional overview was performed in four major regions namely Asia
Pacific, North America, Europe and the rest of the world.Asia-Pacific is
expected to hold the largest share in the Infrared LED market from 2019 to
2025. The high concentration of optoelectronics market players, easy
availability of proficient technical expertise, and increasing investments by
the governments in the region are the key drivers of the market.
Europe is expected to hold the
second-largest market share during the forecast period owing to the rapid
growth in the automotive sector. Germany is the most lucrative market in the
region, followed by the UK and France.
Competitive Analysis
The major market players operating in the
global market as identified by MRFR are Epileds Technologies (Taiwan),
Epistar Corporation (Taiwan), Everlight Electronics Co. Ltd (Taiwan), Excelitas
Technologies Corporation (US), Elektronik GmbH & Co. KG (Germany), High
Power Lighting Corporation (Japan), Kingbright (Taiwan), Lextar Electronics
Corporation (Taiwan), Lite-On Technology, Inc. (Taiwan), Nichia Corporation
(Japan), OSRAM GmbH (Germany), Luna Optoelectronics (US), Marktech
Optoelectronics (US), Würth and Lumileds (US).
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Research Future:
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