Infrared LED Market to cross USD 1 billion by 2024

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Infrared LED Market shipments to grow at 17 CAGR
from 2018 and 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Infrared LED Market

• Infrared (IR) LED Market was estimated at over
  USD 400 million in 2017, and is set to exceed USD
  1 billion by 2024 according to a new research
  report by Global Market Insights, Inc. The global
  shipments are set to grow at over 17 CAGR
  between 2018 and 2024. The IR LED market is
  projected to witness a significant growth over
  the forecast period owing to the increasing
  demand for cameras with night vision capabilities
  and remote sensing in automotive and consumer
  electronic industry.
• The demand infrared LED market in the automotive
  industry has grown owing to the increasing usage
  of these components in the exterior and interior
  lighting applications. Moreover, the industry has
  tremendous opportunities for growth in the future
  with their integration in wearable devices such
  as AR/VR and with the emergence of IoT enabled
  devices.

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Continued...

• The 850nm- 940nm wavelengths in the IR LED market
  are expected to grow at a CAGR of over 17 from
  2018 to 2024, due to the increasing applications
  of these components in numerous applications.
  They are being widely integrated in the
  automotive systems, fueling the demand for
  components with this wavelength in the automotive
  and industrial sectors. The biometrics industry
  is the growing segment in the infrared LED
  market. This is attributed to the growing
  adoption of iris and facial recognition in
  electronic devices. This increasing adoption is
  being propelled by mobile payment services that
  create the need for secure and reliable
  authentication for users. Several LED
  manufacturing companies are taking advantage of
  these opportunities and are launching advanced
  components for biometric applications.
• For instance, recently GOME, one of the
  electronic retailers in China collaborated with
  Osram Opto Semiconductors to integrate the Iris
  recognition technology in their smartphones. The
  company has Osram infrared components on all
  their smartphone offerings.

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Japan infrared LED market size, by application,
2017 2024 (USD Million)

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Continued...

• North America IR LED market is expected to reach
  over USD 350 million by 2024 owing to the
  increasing demands from the surveillance
  industry. The U.S. has been the major country for
  adopting advanced surveillance technologies such
  as artificial intelligence, facial recognition
  and surveillance automation. The demand for such
  technologies is increasing across airports,
  commercial buildings and other public buildings.
  Surveillance has been integral to the U.S. for
  law enforcement and is part of critical national
  infrastructure.
• The vendors in the infrared LED market space are
  EVERLIGHT, Vishay Intertechnology, Epistar, Rohm
  Semiconductor, etc. The industry is witnessing
  extensive investments in these components to
  cater to the demands from growing applications in
  consumer electronics. To sustain competition,
  players have been focusing on new product
  launches and targeting the consumer electronics
  segment for larger market share.

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Continued...

• In 2018, Osram Opto Semiconductors expanded its
  product portfolio of IR LED by announcing six
  novel IR LEDs (IREDs) for automotive use. The
  addition includes 850nm IR components for
  applications such as pedestrian protection, night
  vision, and other exterior applications and 940
  nm infrared components for applications such as
  gesture recognition, driver monitoring, and other
  interior applications.
• Several companies in the industry have shifted
  their focus on the infrared LED market
  considering the demand and the huge potential.
  EVERLIGHT in 2017 reported that business
  contributed 25 percent of its total revenue. The
  market share of Epistar in these LED chips was
  over 10 of all AlGaInP chip output in 2015.

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Industry Coverage

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Table OF Content
Chapter 1. Methodology and Scope 1.1.
Methodology 1.1.1. Initial data
exploration 1.1.2. Statistical model and
forecast 1.1.3. Industry insights and
validation 1.1.4. Definition and forecast
parameters 1.1.4.1. Definitions 1.1.4.2.
Assumptions, methodology and forecast
parameters 1.2. Data Sources 1.2.1.
Primary 1.2.2. Secondary Chapter 2. Executive
Summary 2.1. IR LED industry 3600 synopsis, 2013
- 2024 2.1.1. Business trends 2.1.2. Spectral
range trends 2.1.3. Application trends 2.1.4.
End-use trends 2.1.5. Regional trends
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