Infrared (IR) LED Market Analysis

Infrared LED Market Analysis

Based on spectral range, the infrared LED market size from the medium-wave infrared (MWIR) LED segment will surpass USD 1.2 billion by 2032. The dire need for improved precision targeting and situational awareness along with effective countermeasures have scaled the deployment of MWIR technology across the defense sector. The rise in technological advancements for making these LED systems more efficient, reliable, and cost-effective are also adding to their application scope. Hence, the increasing deployment of AI solutions for defense purposes will add to the business growth.
 

In terms of revenue, the infrared LED market valuation from surveillance applications exceeded USD 240 million in 2022. In recent years, surveillance cameras integrated with IR LED lighting are increasingly used for providing clear images in complete darkness. The consistent need for surveillance in various industries, such as transportation, public safety, and commercial security has also complimented the deployment of IR LEDs. The rapid technological procceeds for increasing security across various industries will also favor the industry development.
 

North America infrared LED market size is projected to record more than 14% CAGR from 2023-2032. The growth can be attributed to the increasing number of initiatives for boosting smart city operations in the region. On account of the thriving need for identifying the presence of cars & pedestrians and the growing adoption of smart building systems, IR LED sensors are registering higher application in traffic management systems. The constant obligation to enhance energy utilization and oversee the occupancy status will also play a key role in the regional industry proliferation.