LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global infrared light-emitting diode (LED) market is projected to reach USD 475.3 million by 2021, at a CAGR of close to 13% during the forecast period.
This research report titled ‘Global Infrared Light-emitting Diode Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
An infrared LED is a solid-state lighting device that emits light in the infrared (IR) range of the electromagnetic radiation spectrum. It is used in a large number of applications such as closed-circuit television (CCTV) cameras, consumer electronic devices, automotive, and smoke detectors.
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Based on application, the report categorizes the global infrared light-emitting diode market into the following segments:
- Consumer electronics
The top three revenue-generating application segments in the global infrared light-emitting diode market are discussed below:
“The surveillance segment of the global infrared LED market generates over 40% of the overall revenue. These light sources are used for low light levels and night vision applications in CCTV cameras. The healthy growth of the CCTV camera market will result in constant demand for infrared LEDs,” says Navin Rajendra, one of the lead analysts at Technavio for lighting research.
Video quality is a major criterion among end-users, and the integration of infrared LEDs have advanced capability of night vision in CCTV cameras. The demand for CCTV cameras with night vision ability has been increasing as governments across the globe are investing more towards security to enhance safety and instill a sense of wellbeing among its citizens.
The consumer electronics segment is projected to grow at a CAGR of close to 16% over the forecast period, driven by the various value-added features such as information security and vital health statistics that they add to the products. Increasing emphasis on consumer safety in consumer electronics products is becoming important, leading to the integration of advanced software such as iris recognition which uses infrared LEDs. Another emerging application for IR LEDs is from the wearable electronics market, especially the health management sector, where vital health statistics need to be monitored.
“The automotive industry is experiencing innovation in the field of safety systems, infotainment, advanced driver assistance systems, telematics, and autonomous driving. These features actively involve the integration of infrared LEDs for their operation, thereby driving the global market,” says Navin.
Additionally, forward-looking infrared systems are being integrated into automobiles to improve night vision. As the automotive industry is moving toward autonomous driving and other automated features, infrared LEDs will be increasingly incorporated to ensure seamless operation of the vehicle.
The top vendors highlighted by Technavio’s research analysts in this report are:
- OSRAM Opto Semiconductors
- Vishay Intertechnology
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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