Published on : Apr 14, 2017
Albany, New York, April 14, 2017: The report identifies key drivers, restraints, trends, and opportunities in the market and forecasts the market size for the coming years. The market has been studied from both, the global as well as regional level. In addition to this, information regarding the degree of competition, threat of new entrants, and threat of substitutes are also given.
The report forecasts that the growth of this market will be around 13% CAGR between 2017 and 2021 and that the market will be worth 475.3 mn by 2021. One of the factors responsible for this growth include, growing number of installations of closed circuit television cameras for the purpose of surveillance, which integrate infrared LED to enable night vision. Integration of infrared LED with CCTV cameras enhances the optical output, near-field visibility, and offers wide range of emission angle. Thus, the demand is anticipated to increase over the coming years.
Advanced image enhancement, long-lasting, and reliability are some of features of technologically advanced modern IR LEDs, which are behind the growth of the market. On the other hand, a lack of LED standardization is a challenge faced by players in the market. However, trends such as the use of LED for driver monitoring is expected to create growth opportunities in the global infrared light-emitting diode market.
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This report segments the global infrared LED market on the basis of application and geography. By application, the market is segmented into surveillance, automotive, and consumer electronics. Of these, the surveillance segment led in 2016. However, this shall not be so from 2017, as the consumer electronics segment is anticipated to expand and lead in the market through 2021. Biometric integration for user authentication in personal devices is creating a need for infrared LEDs in consumer electronics sector.
By geography, the global infrared LED market is segmented into Asia Pacific, Europe, North America, and the Rest of the World. Asia Pacific emerged as a clear winner in 2016 and shall continue to do so throughout the forecast period, predict expert analysts. The reason behind the growth of the market in Asia Pacific is increasing number of LED manufacturers in China, Japan, and Taiwan, and growing number of government campaigns.
The global infrared LED market is diversified as there are a large number of regional and international players. Competition in the market is made intense by Chinese manufacturers. Over the past few years, many players, including the big ones, are experiencing a decline in the market on account of the rising number of Chinese manufacturers. Some of the companies operating in the market include, EPILEDS, Lite-On Technology, High Power Lighting, EPISTAR, Lumileds, EVERLIGHT, Lextar Electronics, NICHIA, MLS Electronics, OSRAM Opto Semiconductors, TOYODA GOSEI Cree, and Vishay Intertechnology
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