Global Imaging Infrared Light Emitting Diode (LED) Market – Industry Trends and Forecast to 2029

Imaging Infrared Light Emitting Diode (LED) Market Analysis and Size

Increased demand of the automotive electronics and advanced vehicle systems is boosting the growth of the market. On the other hand, the rising acceptance of smart technologies along with the prevalence of various manufacturers are the factors that will create ample growth opportunities for the imaging infrared light emitting diode (LED) market’s growth over the forecasted period.

Global imaging infrared light emitting diode (LED) market was valued at USD 53,903.30 million in 2021 and is expected to reach USD 177939.81 million by 2029, registering a CAGR of 16.10% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Imaging Infrared Light Emitting Diode (LED) Market Scope and Segmentation

Market Definition

An infrared light emitting diode is known as the special purpose light emitting diodes which radiate infrared signals at more drawn-out wavelengths. These devices allow cheap and efficient production of infrared lights and can also deliver infrared radiations at the spectral range of 700nm-1mm. The imaging infrared light emitting diode is used to sense the temperature and is detected through the light emitting diodes. They have wide range of applications in the sectors such as aerospace and defense, automotive, banking, financial services and insurance (BFSI) and others.

Global Imaging Infrared Light Emitting Diode (LED) Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increased demand from the automotive sector

The increased demands for imaging infrared light emitting diode in the automotive industries fuels the market growth. The rising technological advancements in automatic detection such as automatic number plate recognition, facial recognition and other applications, have been the main factors driving the growth of the imaging infrared light emitting diode (LED) market over the forecasted period.

•          Growing investments in research and development activities

The growing investments in research and development activities fuels the market growth. The high demands of the imaging infrared light emitting diodes due to the high demands of the applications across various end-users such as aerospace and defense, automotive, banking, financial services and insurance (BFSI) is the important primary factor for the huge investments by the market players in the growing economies. All these factors are driving the growth of the imaging infrared light emitting diode (LED) market over the forecasted period.

Opportunities

• Rising digitalization and smart technologies across the globe

The increasing use of internet and rising penetration of smartphones has led people to the era of digitalization and smart technologies. Thus, this is the primary factor creating significant lucrative growth opportunities for the imaging infrared light emitting diode (LED) market during the forecasted period. The imaging infrared light emitting diodes serve various applications, such as heat detection and others. All these beneficiary factors are projected to drive the market’s growth over the forecasted period and thus, will create significant lucrative growth opportunities for the imaging infrared light emitting diode (LED) market during the forecasted period.

Restraints/Challenges

• Low penetration of technologies

The low penetration of technologies in developing economies and the slow transmission data rates are projected to create challenges for the imaging infrared light emitting diode (LED) market over the forecast period.

This imaging infrared light emitting diode (LED) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the imaging infrared light emitting diode (LED) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Imaging Infrared Light Emitting Diode (LED) Market Scope

The imaging infrared light emitting diode (LED) market is segmented on the basis of spectral range, power, function, technology and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Spectral Range

• 700nm-850nm
• 850nm-940nm
• 940nm-1020nm
• 1020nm-1720nm

Power

• Low
• Medium
• High

Function

• Emitters
• Receivers
• Transceivers
• Detectors

Technology

• Infrared Light Emitting Diode (LED) Chip
• Infrared Light Emitting Diode (LED) Package

End-Use

• Aerospace and Defense
• Automotive
• Banking, Financial Services and Insurance (BFSI)
• Consumer Electronics
• Education
• Healthcare
• Retail
• Industrial

Imaging Infrared Light Emitting Diode (LED) Market Regional Analysis/Insights

The imaging infrared light emitting diode (LED) market is analyzed and market size insights and trends are provided by spectral range, power, function, technology and end-use as referenced above.

The countries covered in the imaging infrared light emitting diode (LED) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the imaging infrared light emitting diode (LED) market during the forecast period because of the increased demands of consumer electronics along with the changing lifestyle of consumers in the growing economies such as China and India.

North America is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising adoption of consumer electronics and rising digitalization within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Imaging Infrared Light Emitting Diode (LED) Market Share Analysis

The imaging infrared light emitting diode (LED) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to imaging infrared light emitting diode (LED) market.

Some of the major players operating in the imaging infrared light emitting diode (LED) market are

• EPILEDS TECHNOLOGIES, INC. (Taiwan)
• EPISTAR Corporation (Taiwan)
• EVERLIGHT ELECTRONICS CO., LTD. (Taiwan)
• Excelitas Technologies Corp. (Canada)
• Kingbright Company, LLC. (U.S.)
• Lextar Electronics Corporation. (Taiwan)
• LITE-ON Technology Corporation. (Taiwan)
• Lumileds Holding B.V. (Netherlands)
• Luna Innovations (U.S.)
• Marktech Optoelectronics. (U.S.)
• NICHIA CORPORATION (Japan)
• ams-OSRAM International GmbH. (Germany)
• ROHM CO., LTD. (Japan)
• TE Connectivity. (Switzerland)
• Ushio America, Inc. (Japan)
• Würth Elektronik GmbH & Co. KG (Germany)

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