Short Wave IR LED Market - By Spectral Range, By Application (Biometrics, Imaging, Lighting, Remote Sensing, Surveillance), By End-Use (Aerospace & Defense, Automotive, BFSI, Consumer Electronics, Education, Healthcare, Industrial, Retail) & Forecast, 2023-2032

Industry Statistics

Short Wave IR LED Market size was valued at over USD 250 million in 2022. Driven by rising innovations in surveillance & security systems globally, the industry is expected to grow at over 5% CAGR from 2023 to 2032. 
 

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Short wave IR LED (SWIR LED) technology is capable of detecting light in low-quality lighting environments, which makes them ideal for security and surveillance purposes, especially in night-time settings. The technology’s superior image acquisition capabilities in dark conditions makes them ideal for security applications such as license plate recognition, object detection, facial recognition, and others. As the demand for high-quality imaging systems for night-time and dim light settings grows, the adoption graph for SWIR LED is expected to outline exponential growth.

Rising data privacy concerns may hamper industry outlook

Despite their high level of security and safety, contactless electronic ID systems, including biometric systems, are not immune to data breaches. A large amount of personal data is involved in biometric identification, facial recognition, and other applications, which increases data privacy concerns. Surging deployment of SWIR LED technology in biometrics-based security and surveillance applications has given rise to increased data privacy concerns, hampering product adoption.
 

Surging defense related spending to spur surveillance application segment expansion

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With respect to application, the surveillance segment of short wave IR LED market accounted for an overall business share of over 40% in 2022. SWIR LEDs boast of superior imaging capabilities that allows them to even see through fog, smoke, and other atmospheric obscurants, making them suitable for outdoor surveillance applications for nighttime vision in the defense sector. Growing investments by world governments towards strengthening their defense and surveillance capabilities is likely to bolster the demand for short wave IR LEDs.
 

In fact, back in December 2022, the US government invested over USD 30.3 billion on national security programs in the Defense Nuclear Facilities Safety Board and Department of Energy.
 

Growing use of biometrics in BFSI to foster 700nm-850nm spectral range segment growth

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Based on spectral range, short wave IR LED market share from 700nm-850nm segment is poised to grow at over 10% CAGR through 2023 and 2032. SWIR LEDs that fall under this spectral range are widely used in AR/VR systems, biometric systems, and facial as well as iris recognition systems in mobile devices. Prominently, this spectral range is extensively used in biometric systems that are deployed across the BFSI sector. Many global banking institutions are making strong investments towards biometric security to mitigate the risk of cyberattacks, favoring segment growth.
 

In fact, in September 2022, the Bank of America, upgraded the sign-in experience with biometrics for its CashPro. The move allowed the bank to help businesses access their payments easily.
 

Rising need for efficient defense tech to strengthen North America SWIR LED market share

North America short wave IR LED market was valued at over USD 100 million in 2022. Short wave IR LEDs offer high efficiency and power which makes them suitable for mass production. Surging need for low-power consumption technology in defense applications has spurred the adoption of SWIR LEDs in the region.
 

Regional expansion can also be credited to strong presence of industry players such as Marktech Optoelectronics, Kingbright, among others who are engaged in product innovations. In fact, in September 2021, Marktech Optoelectronics, a US-based manufacturer of SWIR LEDs, announced the launch of first-ever short wave infrared LEDs in a chip-scale package.
 

Mergers and acquisitions to define competitive landscape for SWIR LED market

Some of the prominent short wave IR LED market players are EPILEDS, Everlight Electronics Co Ltd, Lite-On Inc., Ushio OPTO Semiconductors Inc., DOWA Electronics Materials Co., Ltd., and ROHM Semiconductor, among others. Back in February 2023, Excelitas Technologies Corporation, a Massachusetts-based industrial technology manufacturer, announced the acquisition of Phoseon Technology, Inc., a US-based provider of LED-based scientific illumination & industrial curing solutions.
 

Through this acquisition, Excelitas will expand its R&D cooperation while adding Phoseon’s manufacturing facilities to its portfolio to better cater to customers’ requirements.
 

Impact of COVID-19 on short wave IR LED market trends

The COVID-19 pandemic had a negative impact on SWIR LED industry on account of interrupted in supply chains across the world. The pandemic also impacted operations at various end-user industries of SWIR LEDs such as automotive, consumer electronics, and others. The prolonged lockdowns and stringent social distancing norms also led to factory closures and semiconductor shortages, further affecting SWIR LED production. Moving ahead, growing adoption of biometric technology for monitoring public safety and patient screening is likely to pave the way for industry growth in the post-COVID-19 era.
 

The short wave IR LED Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Spectral Range

• 700nm-850nm
• 850nm-950nm
• 950nm-1020nm
• 1020nm-2500nm

By Application

• Biometrics
• Imaging
• Lighting
• Remote sensing
• Surveillance

By End-use

• Aerospace & defense
• Automotive
• BFSI
• Consumer electronics
• Education
• Healthcare
• Industrial
• Retail

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Taiwan
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • Saudi Arabia