24 February 2017

Infrared LED market to grow at 13% CAGR through 2021

The global infrared light-emitting diode (LED) market will rise at a compound annual growth rate (CAGR) of nearly 13% to $475.3m in 2021, forecasts a report by Technavio. The top vendors highlighted in the report are: Epileds, Epistar, Everlight, Nichia, Osram Opto Semiconductors, and Vishay Intertechnology.

The top three revenue-generating application segments are categorized as surveillance, consumer electronics, and automotive.

Surveillance

The surveillance segment accounts for more than 40% of total revenue. These light sources are used for low light levels and night-vision applications in closed-circuit television (CCTV) cameras. "The healthy growth of the CCTV camera market will result in constant demand for infrared LEDs," says Navin Rajendra, a lead analyst at Technavio for lighting research.

Video quality is a major criterion among end-users, and the integration of infrared LEDs has advanced the 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.

Consumer electronics

The consumer electronics segment is projected to grow at a CAGR of nearly 16% over the forecast period, driven by the various value-added features such as information security and vital health statistics that they add to 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 the wearable electronics market (especially the health management sector, where vital health statistics need to be monitored).

Automotive

"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, notes the report.

Tags: LED market IR LED

Visit: www.technavio.com/report/global-lighting-global-infrared-light-emitting-diode-market-2017-2021