Infrared LED market to reach $1bn by 2026
The infrared LED market is set to grow from its current market value of more than $500m to over $1bn by 2026 - as reported in the latest study by Global Market Insights.
The infrared LED market is anticipated to witness significant growth over the coming time period owing to ongoing technological advancements, high demand from automotive sector, as well as rising adoption of CCTV and surveillance cameras across the industrial sector.
An infrared LED is a specifically designed LED transmitting infrared ray. The rays are not visible by the human eyes since these are not under the human visible electromagnetic radiation range. IR LED means infrared light emitting diode, in which the emitted infrared rays usually range from 700nm to 1mm wavelength. It is to be noted that different IR LEDS tend to create different wavelengths of infrared light, like in the case of LEDs, where various LEDs tend to produce light of various other colours.
The infrared LEDs are utilised in cameras, remote controls for televisions, as well as are useful in several types of electronic devices. These are mainly made up of aluminum arsenide or gallium arsenide. The IR LED are majorly utilised as IR sensor since it is a grouping of both IR transmitter and IR receiver.
Since infrared LED is used in combination with different types of sensors, these are now becoming common to the IoT applications as well as M2M (machine-to-machine) environments as well. Apart from these, the IR LED is used in applications such as smoke detector, transmission system, infrared applied systems, optoelectronic switch, industrial equipment's and infrared remote-control devices.
Infrared LED market is segmented in terms of spectral range, application, end-use, and regional landscape.
Based on spectral range, the IR LED market is classified into 1,020-1,720nm, 950-1,020nm, 850-950nm, and 700-850nm. Among these, the market share for 1,020-1720nm spectral range was over five percent in 2019 owing to the growing adoption in high power applications such as surveillance, security, and biomedical.
In terms of application, the overall infrared LED market is categorised into lighting, surveillance, biometrics, remote sensing, and imaging. Among these, the remote sensing application segment held a market share of around ten percent in 2019 owing to the growing adoption of IR LED lightning systems in automotive applications.
With respect to end-use, the infrared LED market is bifurcated into consumer electronics, retail, aerospace and defense, healthcare, automotive, industrial, BFSI, and education. The industrial end-use segment held a market share of over 15% in 2019 owing to the growing adoption of CCTV and surveillance cameras in manufacturing process.
From a regional frame of reference, the Middle East and Africa IR LED market witnessed a growth rate of nearly ten percent in 2019 due to high investment in infrastructure and commercial sector.