Infrared (IR) LED Market
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Infrared LED Market size was valued at over USD 790 million in 2023 and is anticipated to grow at a CAGR of over 15% between 2024 and 2032. The market growth is attributed to increasing adoption of IR LEDs in healthcare devices, growing usage of IR LEDs in BFSI, increasing demand for smart home appliances, rising adoption of IR LED packages for use in surveillance & security cameras, rising integration of automotive electronics and advanced vehicle systems.
The market has experienced significant growth in recent years, driven by advancements in technology and increasing applications across various industries. Infrared LEDs, which emit light in the infrared spectrum, are used in a wide range of applications, including biometric systems, imaging, lighting, communication, and surveillance. The market is expected to continue its upward trajectory, with a compound annual growth rate (CAGR) projected to be robust during the forecast period from 2024 to 2030. According to the Infrared Data Association (IrDA) reports, the adoption of infrared communication technologies has grown by 22% annually, highlighting the increasing use of infrared LEDs in communication applications.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Infrared LED Market size in 2023: | USD 791 Million |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2023 - 2032 CAGR: | 15 |
| 2023 Value Projection: | USD 2 Billion |
| Historical Data for: | 2021 - 2023 |
| No of Pages: | 250 |
| Tables, Charts & Figures: | 405 |
| Segments Covered: | Spectral range, technology, application, end use |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Another key driver is the growing demand for biometric systems. Infrared LEDs are crucial components in facial recognition systems, fingerprint scanners, and iris recognition technologies. These systems are increasingly being adopted in security and access control applications, particularly in the banking, financial services, and insurance (BFSI) sector, as well as in government and defense sectors.
The infrared LED market faces several restraints that could hinder its expansion. The high cost of infrared LED technology stands as a considerable barrier to widespread adoption, particularly in markets where cost is a decisive factor. Furthermore, environmental conditions like temperature and humidity can adversely affect the performance of infrared LEDs, potentially compromising their reliability and reducing their operational lifespan.
Additionally, high competition from alternative technologies, such as visible LEDs and laser diodes, which can offer similar functionalities at potentially lower costs. Furthermore, stringent regulations and standards related to the use of infrared LEDs in certain applications, particularly in healthcare and automotive sectors, can pose challenges for market players.
The increasing adoption of infrared LEDs in automotive applications represents a major trend supporting the growth of the market. Infrared LEDs are being used in various advanced driver-assistance systems (ADAS) and autonomous vehicle technologies, enhancing vehicle safety and driver assistance features. For instance, infrared LEDs are used in night vision systems to improve visibility in low-light conditions, enabling drivers to detect pedestrians, animals, and other obstacles on the road. These systems use infrared illumination to capture high-quality images, providing real-time information to the driver and enhancing overall safety.
Additionally, infrared LEDs are also used in driver monitoring systems. These systems use infrared illumination to track the driver's eye movements and facial expressions, detecting signs of drowsiness or distraction. By providing real-time alerts, these systems help prevent accidents and improve road safety.
Based on spectral range, the market is segmented into short-wave infrared (SWIR) LED, medium-wave infrared (MWIR) LED, and long-wave infrared (LWIR) LED. The medium-wave infrared (MWIR) LED segment accounted for highest growth rate of over 18% from 2024 in 2032.
Based on application, the infrared LED market is segmented into biometric, imaging, lighting, communication, surveillance, and other applications. The lighting segment is dominating the market with over 25% market share in 2023.
North America is estimated to account for a significant market share of infrared LEDs in 2023, driven by the high adoption of advanced technologies and the presence of key market players. The demand for infrared LEDs in this region is primarily driven by the increasing adoption of smart home devices and advanced security systems. The U.S. is the largest market in North America, with a significant share of the market. The growing emphasis on energy efficiency and the increasing adoption of smart lighting systems are key drivers for the growth of the infrared LED market in the U.S. Additionally, the presence of key market players, such as Cree, Inc. and OSRAM Opto Semiconductors, is contributing to the growth of the market in this region.
The U.S. is driven by the high adoption of advanced technologies and the presence of key market players. The demand for infrared LEDs in the U.S. is primarily driven by the increasing adoption of smart home devices and advanced security systems. The growing emphasis on energy efficiency and the increasing adoption of smart lighting systems are key drivers for the growth of the infrared LED market in the U.S. Additionally, the presence of key market players, such as Cree, Inc. and OSRAM Opto Semiconductors, is contributing to the growth of the market in this region. The U.S. market is highly competitive, with key players focusing on product innovation and strategic partnerships to gain a competitive edge.
Europe occupies a significant market in infrared LEDs in 2023, driven by the increasing adoption of advanced technologies and the presence of key market players. The demand for infrared LEDs in this region is primarily driven by the increasing adoption of smart home devices and advanced security systems. The U.K., Germany, and the Netherlands are the largest markets in Europe, with a significant share of the market. The growing emphasis on energy efficiency and the increasing adoption of smart lighting systems are key drivers for the growth of the market in Europe.
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.
Major companies operating in the infrared LED industry are:
Market, By Spectral Ranges, 2021 – 2032
Market, By Technology, 2021 – 2032
Market, By Application, 2021 – 2032
Market, By End Use, 2021 – 2032
The above information is provided for the following regions and countries:
Boston Electronics Corporation, Broadcom Ltd., DOWA Electronics Materials Co., Ltd., Epileds Technologies, Inc., Ennostar Inc., Everlight Electronics Co. Ltd., and Excelitas Technologies Corp.
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.
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.
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.