Global Infrared LED Market to Grow at a CAGR of Over 9% Through 2020 Says TechSci Research

BURNABY, Canada, January 18, 2016 /PRNewswire/ --

Increasing integration of infrared LEDs in automotive, consumer electronics and other allied industries coupled with rising investments in infrared LED manufacturing to drive global infrared LED market through 2020 

According to a TechSci Research report, "Global Infrared LED Market By Application, By Region & Competition Forecast and Opportunities, 2010 - 2020'’, the global market for infrared LEDs is projected to grow at a CAGR of more than 9% during 2015 - 2020, on account of increasing penetration of these LEDs in allied industries such as automotive, defense, consumer electronics, etc. In addition, the rising adoption of various electronic devices by consumers is propelling growth in demand for infrared LEDs across the globe.

Over the past few years, demand for infrared LEDs is being driven by various end user industries such as imaging, lighting, surveillance, etc., on account of various advantages offered by infrared LEDs such as low power requirement, low cost and high security benefits. The global LED lighting witnessed rapid growth during 2010-2014 due to rapid technological advancements and increasing acceptance of these new technologies across various application segments. Epistar Corporation, Nichia Corporation, Everlight Electronics Corporation Limited, and High Power Lighting are among the leading infrared LED manufacturing companies, globally.

"Deployment of LED lighting over traditional lighting has been an important factor propelling growth in global infrared LED market during 2010 - 2014. Increasing use of infrared LEDs in smartphones for iris recognition is emerging as a new trend in the global infrared LED market, as these infrared LEDs offer better security benefits as compared to traditional LEDs. On account of rising security concerns across the globe, manufacturers are anticipated to further increase their focus on boosting penetration of infrared LEDs in smartphones and surveillance systems in the coming years.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

"Global Infrared LED Market By Application, By Region & Competition Forecast and Opportunities, 2010 - 2020'’ has evaluated the future growth potential of the infrared LED market and provides statistics and information on market structure, size, share and future growth of global infrared LED market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global infrared LED market.

About TechSci Research 

TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.

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SOURCE TechSci Research