Infrared Led Market Size & Share, By Type (700nm-850nm, 850nm-950nm), Application (Imaging, Lighting), Regional Forecast, Industry Players, Growth Statistics Report 2024-2035

Market Outlook:

Infrared Led Market size exceeded USD 64.57 Billion in 2023 and is projected to cross USD 218.98 Billion by 2035, growing at over 16.38% CAGR from 2024 to 2035.

• Base Year Value (2023): USD 64.57 Billion
• CAGR (2024-2035): 16.38%
• Forecast Year Value (2035): USD 218.98 Billion
• Historical Data Period: 2019-2022
• Largest Region: Asia Pacific
• Forecast Period: 2024-2035

Market Dynamics:

Growth Drivers & Opportunities

The global infrared LED market is experiencing robust growth due to the increasing adoption of infrared LEDs in various applications such as surveillance, security, and automotive. The growing demand for consumer electronic devices, such as smartphones and tablets, which incorporate infrared LEDs for facial recognition and depth sensing, is also driving market growth.

In addition, the rising use of infrared LEDs in industrial automation, automotive lighting, and medical devices is creating new opportunities for market players. Furthermore, the ongoing development of advanced infrared LED technologies, such as high-power and high-efficiency devices, is expected to fuel the market growth in the coming years.

Industry Restraints & Challenges

Report Scope

Report Coverage	Details
Segments Covered	By Type, Application
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Showa Denko, Epistar, DOWA, Lite-On Technology, Osram, Ushio, Vishay Intertechnology, AU Optronics(Lextar), Luminus, Lumileds, Kingbright.

Despite the positive growth prospects, the market faces several challenges that could hinder its growth. One of the major restraints is the high cost of infrared LED-based products, which limits their adoption in certain end-user industries. Additionally, the lack of standardization in the infrared LED market poses a challenge for manufacturers and end-users, as it leads to issues related to compatibility and interoperability.

Moreover, the availability of alternative technologies, such as thermal imaging and microwave sensors, could pose a challenge to the market growth. Furthermore, the stringent regulations and standards governing the use of infrared LEDs in various applications could also impede market growth.

Regional Forecast:

North America

The North American region is expected to witness significant growth in the infrared LED market, driven by the increasing demand for infrared LEDs in security and surveillance applications. The growing adoption of infrared LEDs in automotive lighting and consumer electronics is also contributing to market growth in the region.

Furthermore, the presence of key market players and the ongoing R&D activities aimed at developing advanced infrared LED technologies are expected to further boost market growth in North America.

Asia Pacific

The Asia Pacific region is projected to be the fastest-growing market for infrared LEDs, attributed to the rapid industrialization and increasing investments in infrastructure development. The rising implementation of infrared LEDs in industrial automation, smart lighting, and consumer electronics is driving market growth in the region.

Moreover, the growing demand for advanced security and surveillance systems in countries such as China, India, and Japan is fueling the adoption of infrared LEDs. Government initiatives aimed at promoting energy-efficient lighting solutions are also expected to contribute to market growth in Asia Pacific.

Europe

In Europe, the infrared LED market is witnessing steady growth, driven by the rising adoption of infrared LEDs in automotive and industrial applications. The demand for energy-efficient lighting solutions and the increasing emphasis on smart and connected lighting systems are driving market growth in the region.

Furthermore, the stringent regulations and standards promoting the use of energy-efficient lighting technologies are fueling the adoption of infrared LEDs in Europe. The presence of key market players and the ongoing technological advancements in the region are also expected to contribute to market growth.

In conclusion, the global infrared LED market is poised for significant growth, driven by the increasing adoption of infrared LEDs in various end-user industries. While the market faces challenges such as high costs and lack of standardization, the growing demand for energy-efficient lighting solutions and the ongoing technological advancements are expected to drive market growth. The regional forecast shows promising growth opportunities in North America, Asia Pacific, and Europe, indicating a positive outlook for the infrared LED market in the coming years.

Segmentation Analysis:

Security and Surveillance: Illuminating the Future

The security and surveillance segment is one of the key drivers of growth in the infrared LED market. Infrared LEDs are widely used in security cameras and surveillance systems to provide clear and sharp images in low-light or complete darkness. With the increasing focus on public safety and security, the demand for infrared LED-based surveillance systems has been on the rise. In addition, the integration of IR LEDs with advanced features such as facial recognition and object tracking has further boosted the demand for these systems. As a result, the security and surveillance sub-segment is expected to witness significant growth in the coming years.

Automotive: Shaping the Future of Mobility

The automotive segment is another significant contributor to the growth of the infrared LED market. Infrared LEDs are extensively used in automotive applications such as night vision systems, driver monitoring systems, and LiDAR (Light Detection and Ranging) technology. These applications rely on IR LEDs to provide enhanced visibility and safety for drivers, especially in low-visibility conditions. With the increasing emphasis on vehicle safety and the growing trend of autonomous and electric vehicles, the demand for IR LED-based automotive solutions is poised to grow rapidly. As a result, the automotive sub-segment presents lucrative opportunities for market players operating in the infrared LED market.

Competitive Landscape:

The global infrared LED market is highly competitive, with several key players vying for market share. These players are continuously focusing on product innovation, strategic partnerships, and expansion into new markets to gain a competitive edge. Some of the prominent players in the infrared LED market include Osram Opto Semiconductors, Epistar Corporation, Vishay Intertechnology, Everlight Electronics, and ROHM Semiconductor, among others.

Osram Opto Semiconductors, a leading player in the global LED market, offers a wide range of high-power and high-efficiency infrared LEDs for various applications. The company's extensive R&D efforts and focus on developing cutting-edge IR LED technology have positioned it as a key player in the market. Moreover, Osram's strategic collaborations with automotive manufacturers and technology companies have further strengthened its market presence.

Epistar Corporation, another major player in the infrared LED market, is known for its advanced LED technologies and comprehensive product portfolio. The company's focus on developing energy-efficient and high-performance IR LEDs has garnered significant attention from customers across diverse industries. Epistar's strong distribution network and global presence have further solidified its position in the market.

Vishay Intertechnology, a global manufacturer of discrete semiconductors and passive components, has also made a mark in the infrared LED market with its innovative product offerings. The company's extensive expertise in IR LED technology and its commitment to sustainability have positioned it as a reputable player in the market. Furthermore, Vishay's focus on research and development, along with its strong customer-centric approach, has contributed to its strong foothold in the infrared LED market.

Everlight Electronics and ROHM Semiconductor are also noteworthy players in the global infrared LED market, known for their comprehensive product lines, technological advancements, and strategic initiatives.

In conclusion, the infrared LED market is poised for substantial growth, driven by the increasing demand for IR LED technology in diverse applications. The security and surveillance sub-segment, along with the automotive sub-segment, are expected to emerge as significant revenue generators for market players. Moreover, the competitive landscape of the infrared LED market is characterized by intense competition, with prominent players focusing on innovation and strategic partnerships to gain a competitive advantage. As the demand for IR LED technology continues to rise, market players are expected to capitalize on emerging opportunities and drive further advancements in the infrared LED market.