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Infrared (IR) LED Market Share

Report ID: GMI437
Published Date: Jul 2024
Report Format: PDF

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Infrared LED Market Share

Boston Electronics Corporation has significantly contributed to the market by pioneering advanced technologies that enhance detection and measurement capabilities. In 2023, they launched a new line of high-performance infrared LEDs designed for industrial and scientific applications, demonstrating their commitment to innovation. The company also announced ambitious growth plans, aiming to expand their market reach and enhance product offerings through strategic investments. Additionally, in 2023, Boston Electronics formed a key partnership with a leading sensor manufacturer to co-develop cutting-edge infrared solutions, further solidifying their position as a market leader.

Broadcom Ltd has significantly impacted the market, offering advanced solutions for diverse applications, including remote sensing and communication. Their innovative product launches in 2023, like the high-performance IR LEDs designed for automotive and industrial use, highlight their commitment to technological advancement. In 2024, Broadcom plans to expand its IR LED portfolio, focusing on higher efficiency and integration with IoT devices. The company also announced a strategic partnership with a leading semiconductor firm in 2023, aimed at enhancing their R&D capabilities and market reach. This collaboration underscores Broadcom's dedication to growth and innovation in the infrared LED sector.

Infrared LED Market Companies

Major companies operating in the infrared LED industry are:

Boston Electronics Corporation
Broadcom Ltd.
DOWA Electronics Materials Co., Ltd.
Epileds Technologies, Inc.
Ennostar Inc.
Everlight Electronics Co. Ltd.
Excelitas Technologies Corp.

Authors: Suraj Gujar, Saptadeep Das

Frequently Asked Questions (FAQ) :

The Infrared LED industry was valued at over USD 790 million in 2023 and is anticipated to record a CAGR of over 15% between 2024 and 2032, attributed to increasing adoption in healthcare devices, BFSI, smart home appliances, and in surveillance & security cameras.

The medium-wave infrared (MWIR) LED segment accounted for a growth rate of over 18% from 2024 to 2032, due to its use in thermal imaging and environmental monitoring.

North America accounted for a significant share of infrared LEDs market in 2023 and will continue to grow through 2032, driven by the high adoption of advanced technologies and the presence of key market players.

Boston Electronics Corporation, Broadcom Ltd., DOWA Electronics Materials Co., Ltd., Epileds Technologies, Inc., Ennostar Inc., Everlight Electronics Co. Ltd., and Excelitas Technologies Corp.