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Short Wave Infrared LED Market size to surpass $550 Mn by 2032

  • Published Date: April 19, 2023

Short Wave Infrared LED Market size is anticipated to cross USD 550 million by 2032, according to a recent research report announced by Global Market Insights Inc.

Rising integration of sensors in healthcare sector is a key driver behind market growth. SWIR LED technology is extensively used in wearable devices such as fitness bands and smartwatches to monitor vital signs such as blood oxygen levels, heart rate, and others. When used in sensor-based fluorescence bioimaging, this technology offers deep tissue penetration and reduces scattering of photons as compared to traditional imaging techniques, making it suitable for healthcare sector.

Owing to its superior image acquisition capability, SWIR LED technology is also widely used in medical imaging-based diagnosis applications such as Near-infrared imaging for tumor detection and visualization of tissue anatomy.

Longer usable range of 850nm-950nm SWIR LEDs to fuel spectral range segment growth

 On the basis of spectral range, short wave infrared LED market from 850nm-950nm segment held over 45% industry share in 2022. SWIR LEDs within this range demonstrate a longer usable range which favors their adoption in security applications. These LEDs also offer invisibility balance and superior performance for use in darkness. In fact, 850nm SWIR LEDs offer good illumination in dark settings, which makes it a standard wavelength for CCTV cameras while 940 nm SWIR LEDs are suitable for remote control applications.

Surging implementation of online banking to foster biometrics application segment expansion

Based on application, short wave infrared LED market size from biometrics segment is anticipated to record a valuation of over USD 100 million by 2032. SWIR LEDs are widely used in biometrics for facial, iris, and retinal recognition. Growing implementation of online banking systems has bolstered the demand for biometrics for user authentication, paving way for segment growth. In fact, in August 2021, Santander Group, a Spanish financial services company chose Facephi Biometria, a Spain-based software firm, as the identity verification systems provider to help its clients access their accounts securely using biometrics.

Browse key industry insights spread across 240 pages with 445 market data tables and 36 figures & charts from the report “Short Wave IR LED Market - 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) & Forecast, 2023 – 2032, in detail along with the table of contents:

Better illumination of SWIR LED to fuel automotive end-use segment development

In terms of end-use, short wave infrared LED market share from automotive segment is poised to grow at over 10% CAGR from 2023 to 2032. SWIR LED technology boasts of higher range, longer lifespan, and better illumination when compared to traditional lighting systems, making it suitable as an automotive lighting solution. It is commonly used in brake lights, headlights, and other lighting applications. Moreover, these LEDs can see beyond the visible spectrum, which favors their adoption for vehicle detection in security applications.

Strong presence of market leaders to strengthen Asia Pacific SWIR LED industry trends

Asia Pacific short wave infrared LED market is expected to grow at over 5% CAGR through 2023 to 2032, fueled by the strong presence of industry giants such as Epistar, Optotech, Taiwanese, and Lextar, among others. These enterprises are growingly focusing on product innovations, outlining the regional scenario. In fact, in January 2022, Epistar Corp., a Taiwanese manufacturer of LEDs, announced that optical power of its 1300 nm LED has the potential to reach 25mW, which is 28% higher as compared to other products, making it highest output SWIR LED globally.

Product innovations to define competitive scenario for SWIR LED market share

The list of major short wave infrared LED market players includes names such as DOWA Electronics Materials Co., Ltd., Everlight Electronics Co Ltd, Brightek (Europe) Limited, Excelitas Technologies Corporation, Lite-On Inc., and Marktech Optoelectronics, among others. These firms are increasingly focusing on product innovations to gain a competitive edge over their peers. 

Moreover, SEDAR integrates an imaging sensor and SWIR light source in a single device. This technology is based on the company’s research on affordable CMOS-based SWIR devices to offer an alternative to expensive Indium Gallium Arsenide or InGaAs SWIR sensors. 

Authors: Preeti Wadhwani, Anish Pathak