18 January 2016

Infrared LED market to grow at CAGR of over 9% during 2015-2020

The global infrared LED market is projected to grow at a compound annual growth rate (CAGR) of more than 9% during 2015-2020, according to the report 'Global Infrared LED Market, 2010 – 2020' by TechSci Research.

Demand for infrared LEDs has been increasing over the last few years, due to their rising penetration into applications including the automotive, defense and consumer electronics sectors. Major applications include imaging, surveillance, automotive, and lighting. Specifically, major factors propelling growth include the rising use of infrared LEDs in smartphones for iris recognition, and increasing use of these LEDs in CCTV and surveillance systems.

Infrared LEDs are also being used increasing in handheld devices for identity verification and mobile payment technologies. Also, rising security concerns in both developing countries and developed countries is driving demand for surveillance devices and biometrics systems that are being deployed across various sectors such as education, defense, healthcare, and residential.

Asia-Pacific is the largest regional market for infrared LEDs in the world, due to the increasing penetration of infrared LEDs in smartphones, automotive, surveillance systems and other segments, notes the report.

Major companies involved in manufacturing infrared LEDs for various end-user applications include Epistar Corp, Nichia Corp, Everlight Electronics and High Power Lighting, adds the market research firm.

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Visit: www.techsciresearch.com/report/