Infrared (IR) LED Market size to surpass $2.5 Bn by 2032

Infrared (IR) LED Market size to record more than USD 2.5 billion by 2032, according to a recent research report announced by Global Market Insights Inc.

Rising usage of IR LEDs in various healthcare devices to offer high wavelengths will positively influence the demand for IR LEDs. In recent years, LEDs have gained significant momentum in the healthcare sector considering their growing incorporation in devices, such as surgical lighting, LED equipment, brain functionality, and phototherapy. The rising demand for advanced sensing functions in wearables including watches and earbuds for tracking biometric data will also compliment the preference for IR LEDs.
 

Growing acceptance of SWIR technology for environmental monitoring to favor industry trends

In terms of revenue, the infrared (IR) LED market share from the short-wave infrared (SWIR) spectral range segment will reach over USD 550 million by 2032. SWIR technology has gained profound traction in several environmental applications, such as the detection of leaks in pipelines. It also assists in monitoring vegetation health as well as detecting air pollution. The rising popularity of SWIR imaging to offer enhanced image quality and affordable operations will further bolster the industry outlook.
 

Increasing need for automotive lighting solutions to drive IR LED demand

IR LED industry size from lighting applications is expected to record more than 16% CAGR from 2023-2032. The automotive sector is witnessing increased adoption of IR LED for various lighting applications, such as headlights and brake lights. This can be attributed to the strong abilities of IR LED technology to offer longer lifespan and better illumination over traditional automotive lighting solutions, subsequently adding to its prominence in automotive lighting applications.
 

Browse key industry insights spread across 300 pages with 423 market data tables and 28 figures & charts from the report “Infrared (IR) LED Market - By Spectral Range (o Short-wave Infrared LED, Medium-wave Infrared LED, Long-wave Infrared LED), By Application (Biometrics, Imaging, Lighting, Remote Sensing, Surveillance), By End-use (A&D, Automotive, BFSI, Consumer Electronics, Education, Healthcare, Industrial, Retail) & Forecast, 2023 – 2032”. , in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/infrared-ir-led-market
 

Rising dominance of self-driving vehicles to boost market trends in APAC

Asia Pacific infrared LED market size is anticipated to surpass USD 1.1 billion by the end of 2032 on account of the growing acceptance of self-driving vehicles mainly in Japan, China, and South Korea. The robust presence of several leading automotive manufacturers has led to the subsequent need for advanced driver assistance systems (ADAS) and autonomous vehicles. This, in turn, is accelerating the demand for IR LEDs in automotive sensing as well as lighting applications. The increasing deployment of autonomous technologies for the effective functioning of vehicles will also anchor the industry development.
 

New device launches to compliment IR LED market growth

Some of the leading IR LED industry players include Ushio OPTO Semiconductors In, Everlight Electronics Co. Ltd., ON Semiconductor, DOWA Electronics Materials Co., Ltd., and Resonac Holdings Corporation. These firms are working on innovations in infrared LED technology to cater to the rising end-user requirements.