Infrared LED Market to Grow at 22% till 2022
demand for thermal power equipment, electrocardiograph machines and high speed
infrared cameras with advanced features to drive demand for infrared LED globally
According to a TechSci Research report, “Global Infrared LED Market, By Function, By Application, By Region, Competition Forecast &
Opportunities, 2012 - 2022”,
the global market of infrared LED is projected to grow at a CAGR of
over 22% during 2017-2022. Increasing number
of manufacturing facilities, growing demand from automotive industry, expanding
population base, and rising demand for surveillance are the major factors
fueling demand for infrared LED across the world. Expanding health
care sector, rising construction of smart homes and increasing disposable
income, coupled with growing adoption in military and defense are further
anticipated to drive demand for infrared LED, globally. Global smart
home market stood at USD23.74 billion in 2016, which is further forecast to
reach USD61.24 billion by 2021. Moreover, in 2012, global construction output
was USD8.16 trillion, which is further projected to reach to USD12 trillion by
2020. All these factors are anticipated to positively influence global infrared
LED market during 2017 – 2022.
02 market data Tables and 90 Figures spread through 140
Pages and an in-depth TOC on "Global
Infrared LED Market, 2022"
Epistar Corp., Nichia, EverLight,
High Power Lighting and Osram Opto were
the leading companies operating in global infrared LED market in 2016, and
these companies are expected to continue dominating the market during the
forecast period as well. Asia-Pacific garnered the highest market share in
global infrared LED market in 2016 due to increasing population, rising GDP and
low prices for infrared LED products as compared to other regions of the world.
On the basis of application, global infrared
LED market has been broadly categorized into infrared imaging, infrared
surveillance, infrared automotive applications, infrared lighting and infrared biometric.
Infrared imaging dominated global infrared LED market in 2016, and the same
trend is expected to continue over the next five years as well.
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“Growing adoption in various industry applications, expanding
global smart home market, increasing requirement of thermal measuring systems
and rising initiatives being taken by number of governments to boost technology
based on renewable resources coupled with easy accessibility and availability of
infrared LED to aid global infrared LED market over the next five years.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Infrared LED Market By
Function, By Application, By Region, Competition Forecast & Opportunities,
2012 - 2022” has evaluated the future growth potential of global infrared LED market
and provides statistics and information on market structure, size, share and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers to take sound investment evaluation.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in global infrared LED
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