The Infrared LED Market Size was valued at USD 587.6 Million in 2023 and is expected to reach USD 1795 Million by 2031 and grow at a CAGR of 16.5% over the forecast period 2024-2031.
The Infrared LED (IRED) market spans various industries such as consumer electronics, automotive, security and surveillance, healthcare, and industrial automation. Infrared LEDs emit light in the invisible infrared spectrum, serving critical functions in applications like remote controls, night vision devices, proximity sensors, and data transmission. Market growth is fueled by increasing adoption in security cameras, facial recognition systems, and automotive safety features like night vision assistance. Technological advancements, including high-efficiency IREDs and miniaturization, drive expansion, alongside rising demand for energy-efficient lighting solutions and the proliferation of IoT devices.
Get more information on Infrared LED Market - Request Sample Report
Infrared LEDs are distinguished by the fact that LEDs made of gallium arsenide or aluminium gallium arsenide emit infrared beams with frequencies ranging from 7nm to 1mm. The frequency at which an IR LED is used shifts. Infrared LEDs with a frequency of 940nm, for example, are widely used in remote regulators. IR LEDs with a wavelength of 808nm are commonly used in clinical treatment machines and space optical correspondence.
KEY DRIVERS:
IR LEDs are increasingly being used in dermatology devices and neurology devices.
In recent years, there has been a notable increase in the requirement for heightened surveillance and security systems across various sectors. This surge in demand has been primarily driven by the need for improved monitoring and protection in both public and private settings. As a result, there has been a corresponding rise in the demand for Infrared LEDs, which play a crucial role in enabling night vision capabilities and facilitating efficient monitoring, even in low-light conditions. Whether it's for securing commercial properties, monitoring public spaces, or enhancing home security systems, Infrared LEDs have become indispensable components due to their ability to provide clear visuals in various environmental conditions. This growing reliance on Infrared LEDs underscores their significance in bolstering the effectiveness and reliability of surveillance and security systems, ultimately contributing to the overall safety and security of individuals and assets.
RESTRAINTS:
The topic of technological and R&D challenges pertains to the obstacles faced in improving the efficiency and expanding the spectral range of Infrared LEDs. These challenges necessitate substantial investments in research and development endeavors. Efforts to enhance efficiency involve making Infrared LEDs more energy-efficient and effective in their performance. Broadening the spectral range refers to extending the range of wavelengths emitted by the LEDs to cover a wider spectrum, which can enable them to be utilized in a broader array of applications. Overcoming these hurdles requires innovative solutions, advanced materials, and rigorous testing processes, all of which demand significant financial and human resources.
OPPORTUNITIES:
Infrared LED packages are in high demand for use in security cameras and access control.
The future is getting smarter, especially at night. For example, home where security cameras with infrared (IR) LEDs automatically activate in darkness. Artificial intelligence (AI) steps in to analyze the visual data captured by the IR LEDs. With facial recognition powered by AI, the system can identify authorized people even in complete darkness, adding a whole new level of security. This powerful combination of IR LEDs, IoT (Internet of Things), and AI has the potential to revolutionize various sectors. Security systems can be significantly improved by combining IR LEDs with AI-powered motion detection, distinguishing between real threats and harmless movements from pets or wildlife.
CHALLENGES:
IMPACT OF RUSSIAN-UKRAINE WAR
The Russia-Ukraine crisis has profoundly influenced the global economic and business landscape, indirectly impacting various markets, including the Infrared LED market. Economic instability and cyber conflicts have ensued, with governments imposing sanctions disrupting trade flows. These disruptions, coupled with potential retaliatory cyberattacks, necessitate vigilance across industries reliant on Infrared LED technology. Furthermore, organizational challenges have arisen as businesses worldwide suspend or scale back operations in Russia, affecting supply chains and potentially disrupting Infrared LED production due to interconnectedness with Russian suppliers. Supply shocks in the energy sector, driven by Russia's significant role as an oil and gas supplier, have led to price volatility, impacting production costs and potentially consumer demand for Infrared LEDs amid inflationary pressures. Overall, the crisis introduces economic and supply chain uncertainties, impacting the Infrared LED market through trade disruptions, organizational challenges, supply shocks, and inflationary pressures.
IMPACT OF ECONOMIC SLOWDOWN
A downturn in the global economy could result in reduced demand for infrared-enabled devices such as security cameras, night vision equipment, and remote controls, all of which utilize Infrared LEDs (IREDs), as businesses and consumers tighten their spending. Manufacturers may face pressure to lower prices to maintain competitiveness, potentially leading to decreased profit margins for companies.
Additionally, infrastructure projects reliant on technology, like security systems in buildings or industrial automation applications, could be postponed or canceled. However, some mitigating factors include the cost-effectiveness of IREDs compared to alternatives, which may make them more appealing during times of cost-efficiency prioritization, and certain sectors, such as medical technology and security, might sustain or increase spending on the market. Overall, while a global economic slowdown is likely to hurt the market, the severity of the effect will hinge on the depth and duration of the slowdown and the specific sub-sectors within the Infrared LED market.
BY SPECTRAL RANGE
700nm–850nm
850nm–940nm
940nm–1020nm
1020nm–1720nm
The market is segmented into 700nm-850nm, 850-950nm, and 950nm-1020nm and 1020-1720nm. The 850nm-950nm segment dominates the global market, accounting approx. 52% of the total. The market’s expansion can be attributed to rising demand for electric vehicles and technological advancements in night vision. The use of infrared LEDs in vehicle headlamps allows drivers to easily recognize objects, and the growing concern for road safety is also giving the global market an advantage.
BY APPLICATION
Surveillance
Imaging
Remote Sensing
The market is segmented into Imaging, Lighting, Remote Sensing, Surveillance and Biometrics, the imaging segment dominates the market. The growing demand for security cameras as a result of increased thievery and robbery is propelling the imaging segment of the infrared-led market. The use of infrared LED in CCTV cameras provides high-quality images even at night, allowing for easy recording of evidence, monitoring of suspicious activities, and improved workplace safety.
Get Customized Report as per your Business Requirement - Request For Customized Report
BY END-USE
Aerospace & Defense
BFSI
E-Commerce
Healthcare
Automotive
Consumer Electronics
Education
It is anticipated that the Asia-Pacific region will maintain its position as the dominant player in the Infrared LED market. This is primarily attributed to the significant presence of optoelectronics market players, ready access to skilled technical professionals, and growing governmental investments in the region.
Europe is projected to secure the second-largest market share throughout the forecast period, propelled by the rapid expansion of the automotive sector. Within Europe, Germany emerges as the most lucrative market, trailed by the UK and France.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
The key players in the infrared LED market are Epileds Technologies, Everlight Electronics, High Power Lighting, OSRAM, Lite-On Technology, Epistar Corporation, Excelitas Technologies, Kingbright, Lextar Electronics, Nichia Corporation & Other Players.
High Power Lighting-Company Financial Analysis
RECENT DEVELOPMENT
In May 2021: PHOSEON TECHNOLOGY unveiled the FireJet and FireEdge NIR series, featuring near-infrared (NIR) lights designed for 3D printing and precise low-motion applications, aiming to bolster the global market. The increased adoption of infrared LED technology in military operations for detecting weaponized devices and concealed explosives, as well as enhancing visibility in adverse weather conditions such as dust and fog, underscores the significance of these advancements.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 587.6 Million |
| Market Size by 2031 | US$ 1795 Million |
| CAGR | CAGR of 16.5% From 2024 to 2031 |
| Base Year | 2022 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Spectral Range (700nm–850nm, 850nm–940nm, 940nm–1020nm, 1020nm–1720nm) • By Application (Biometrics, Lighting, Surveillance, Imaging, Remote Sensing) • By End-Use (Aerospace & Defense, BFSI, E-Commerce, Healthcare, Automotive, Consumer Electronics, Education) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Epileds Technologies, Everlight Electronics, High Power Lighting, OSRAM, Lite-On Technology, Epistar Corporation, Excelitas Technologies, Kingbright, Lextar Electronics, and Nichia Corporation. |
| Key Drivers |
• IR LEDs are increasingly being used in dermatology and neurology devices • Heightened demand for surveillance and security solutions has sparked a surge in the need for Infrared LEDs. These LEDs are indispensable for night vision and effective monitoring across diverse environments, reflecting their critical role in bolstering security measures. |
| OPPORTUNITIES | • Technological and R&D Challenges Overcoming hurdles to enhance efficiency and broaden the spectral range of Infrared LEDs requires significant investments in research and development efforts. |
The Infrared LED Market was valued at USD 587.6 Million in 2023.
The expected CAGR of the global Infrared LED Market during the forecast period is 16.5%.
The Asia-Pacific region is anticipated to record the Fastest Growing in the Infrared LED Market.
The Imaging segment is leading in the market revenue share in 2023.
North America dominates the region with the Highest Revenue share in 2023.
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Infrared LED Market, By Spectral Range
9.1 Introduction
9.2 Trend Analysis
9.3 700nm–850nm
9.4 850nm–940nm
9.5 940nm–1020nm
9.6 1020nm–1720nm
10. Infrared LED Market, By Application
10.1 Introduction
10.2 Trend Analysis
10.3 Biometrics
10.4 Lighting
10.5 Surveillance
10.6 Imaging
10.7 Remote Sensing
11. Infrared LED Market, By End-Use
11.1 Introduction
11.2 Trend Analysis
11.3 Aerospace & Defense
11.4 BFSI
11.5 E Commerce
11.6 Healthcare
11.7 Automotive
11.8 Consumer Electronics
11.9 Education
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
11.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13. Company Profiles
13.1 Epileds Technologies
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Everlight Electronics
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 High Power Lighting
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 OSRAM
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Lite-On Technology
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Epistar Corporation
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Excelitas Technologies
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Kingbright
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Lextar Electronics
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Nichia Corporation
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Torque Sensor Market size was USD 7.55 billion in 2023 and is expected to Reach USD 11.86 billion by 2031 and grow at a CAGR of 5.8 % over the forecast period of 2024-2031.
The 360-Degree Camera market size was valued at USD 1.08 billion in 2022 and is expected to reach at USD 4.96 billion by 2030 and grow at a CAGR of 21% over the forecast period of 2023-2030.
The Integrated Circuit Market Size will be valued at USD 1486 billion by 2030, and it accounted for USD 551.28 billion in 2022 and grow at a CAGR of 13.2% over the forecast period 2023-2030.
The Thyristor Protectors Market size was Valued at USD 0.7 billion in 2023 and is estimated to Reach USD 0.97 billion by 2031 and grow at a CAGR of 4.11% over the forecast period of 2024-2031.
The Steam Trap Market size was valued at USD 3.75 billion in 2022 and is expected to grow to USD 5.038 billion by 2030 and grow at a CAGR of 3.76% over the forecast period of 2023-2030.
The Passive Optical Network (PON) Market size was valued at USD 12.28 Billion in 2022 and is expected to grow to USD 36.53 Billion by 2030 and grow at a CAGR Of 14.6 % over the forecast period of 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
