Infrared (IR) LEDs Market Overview
Infrared (IR) LEDs are made of gallium, arsenide or aluminum gallium arsenide. Infrared (IR) LEDs are next generation lighting technology that is more flexible and efficient in terms of colors, form factor and power consumption as compared to conventional incandescent light products.
The Infrared (IR) LEDs are used for a wide range of applications in several electronics products including types of remote controls for television and other types of electronic sensors. Infrared (IR) LEDs offers different features such as high driven current density operation, low power consumption (≤0.1 W), multiple package configurations, and modulation from DC to VHF, low thermal resistance, and high long-term stability.
The reliability of such features drives the Infrared (IR) LEDs market growth. Infrared (IR) LEDs are specially designed for a variety of applications such as iris and face recognition, surveillance systems, night vision & machine vision, medical and scientific instrumentation.
Impact of COVID-19 Pandemic Outbreak on Infrared (IR) LEDs Market
The global electronics devices market (including consumer electronics and industrial electronics devices) is expected to be impacted significantly by COVID-19, due to shortage of raw materials (used to manufacture devices) as well as the low demand for finished products. Owing to the spreading of COVID-19 virus in all the regions is creating supply-side production and demand-side challenges for the Infrared (IR) LEDs market.
Before COVID-19, the global market for IR LED was anticipated to increase 6% market growth in 2020, whereas post-COVID-19 scenario, the market for IR LED is projected to declining growth of nearly 3% as compared to original forecast. However, it is expected that, once the COVID-19 pandemic situation gets controlled during by Q4, 2020, the market would return to steady growth by 2021.
Infrared (IR) LEDs Market: Drivers and Challenges
The growing demand for IR LED packages for use in security cameras and access control, is expected to create a huge opportunity for the global Infrared (IR) LEDs market. The increasing need for Infrared (IR) LEDs in automotive sensing and license plate scanning applications, is driving the growth of Infrared (IR) LEDs market.
The emerging technology trends such as IoT, automated driving assistance system, augmented reality, and artificial intelligence would also have a positive impact on the Infrared (IR) LEDs product demand. The use of IR technologies and innovative features in the automobiles for improving the driving efficacy, safety, and comfort is poised to propel the demand for infrared LED market during the forecast period.
However, the production challenges due to lockdown restrictions laid by the government amid the COVID-19 crises, would impact the growth of infrared (IR) LEDs market, for a short period of time. Moreover, lack of awareness about economic benefits of Infrared (IR) LEDs products is one of the factors constraining the growth of the market, especially in developing regions.
Infrared (IR) LEDs Market: Competition Landscape
Some of the prominent players providing infrared (IR) LEDs are -
- Luminus, Inc.
- Epistar Corp.
- OsRam Licht AG
- Ushio, Inc.
- Lumileds Holding B.V.
- Rohm Semiconductor, among others.
Infrared (IR) LEDs Market: Regional overview
By geography, the infrared (IR) LEDs market has been segmented into North America, Europe, Latin America, East Asia, South Asia & Pacific, and MEA (the Middle East & Africa). Among these regions, North America, East Asia and Europe are expected to dominate the global Infrared (IR) LEDs market due to the increasing demand for IR LED in automotive industry application such as electric vehicles, connected cars, and self-driving cars, in this region.
The increasing requirement of CCTV cameras across the South Asia & Pacific region will create new growth opportunities for the players in the infrared (IR) LED market. The infrared (IR) LEDs market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The infrared (IR) LEDs market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on
- Infrared (IR) LEDs Market Segments
- Infrared (IR) LEDs Market Dynamics
- Infrared (IR) LEDs Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Infrared (IR) LEDs Market
- Technology Landscape
- Value Chain of the Infrared (IR) LEDs Market
- Infrared (IR) LEDs Market Drivers and Restraints
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, & Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, BENELUX, & Russia)
- East Asia (China,, South Korea, & Japan)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, Turkey, & South Africa)
Infrared (IR) LEDs Market: Segmentation
The infrared (IR) LEDs market has been segmented by component, industry and region.
On the Basis of Component
- IR LED Chip
- IR LED Package
On the Basis of Industry
- Consumer Electronics