Infrared LED market size expected to grow at over CAGR 9% from 2016 to 2023

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Infrared LED market size expected to grow at over
CAGR 9 from 2016 to 2023 Global Market Insights
Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Infrared LED Market

• Asia Pacific IR LED market is projected to
  witness substantial growth prospects over the
  forecast period. The regional growth can be
  attributed to increasing adoption and penetration
  of these products in a wide range of applications
  such as automotive, smartphone, surveillance
  systems, and other segments over the forecast
  period.
• Europe is likely to exhibit considerable rates
  owing to presence of significant automobile
  sector across the region.
• Regions facing political turmoil as well as
  social issues are forecast to have the highest
  contribution on the product demand through 2023.

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• Application Analysis of Infrared LED Market
• Rapid technology advancements accompanied by
  growing adoption of these products in various
  industry sectors such as defense, lighting,
  imaging, surveillance, automotive, as well as
  consumer electronics is anticipated to propel
  global infrared LED market growth from 2016 to
  2023.
• As these products offer high security benefits
  when compared to traditional ones, manufacturers
  are now increasing their focus on its
  implementation in surveillance systems and
  various multimedia devices such as tablets and
  mobile phones. Rising integration of these
  products in smartphones for iris recognition is
  anticipated to be an emerging trend in IR LED
  market growth.
• Furthermore, potential implementation of these
  devices in CCTVs (close circuit televisions) and
  surveillance systems is forecast to boost the
  industry demand from 2016 to 2023.

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Competitive Market Share of Infrared LED
Market

• Industry players accumulating substantial global
  IR LED market share include Nichia, Kingbright
  Electronics, Osram Opto Semiconductors, Epistar,
  High Power Lighting, and Everlight Electronics.
• Other prominent players include Lextar
  Electronics, Royal Philips, Excelitas
  Technologies, Opto Diode, Fluke, Ushio Epitex,
  Epileds, ROHM Semiconductors, Fairchild
  Semiconductors International, EPITEX, Larson
  Electronics, and High Power Lighting.

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