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05 Jun, 2023, 20:15 ET

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NEW YORK, June 5, 2023 /PRNewswire/ -- The global infrared light-emitting diode market size is estimated to grow by USD 242.69 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period. APAC is estimated to account for 67% of the global market growth. The region is a global manufacturing center for consumer electronics and other industrial products requiring infrared light-emitting diodes. Furthermore, infrared-emitting diodes are widely used in automotive applications such as driver monitoring and gesture control. The growing automobile production in APAC will drive the adoption of infrared light-emitting diodes, which ultimately drives the growth of the market during the forecast period. Moreover, the widespread acceptance of remote controls by major smart TV and game console manufacturers in the region is another factor driving the demand for infrared-emitting diodes in APAC. Hence, such factors drive the regional market growth during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

What's New?

Infrared Light-emitting Diode Market - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on type (Gallium arsenide LED and Aluminum gallium arsenide LED), application (consumer electronics, surveillance, automotive, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

Insights on the market contribution of various segments, including country and region wise historic (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Infrared Light-emitting Diode Market – Market DynamicsKey factor driving market growth

Leading trends influencing the market

Major challenges hindering the market growth

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

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Infrared Light-emitting Diode Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.09%

Market growth 2023-2027

USD 242.69 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.58

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 67%

Key countries

US, China, South Korea, Taiwan, and Singapore, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Adolf Wurth GmbH and Co. KG, ams OSRAM AG, Ennostar Inc., Epileds Technologies Inc., Everlight Electronics Co. Ltd., EXALOS AG, Excelitas Technologies Corp., High Power Lighting Corp., Kingbright Electronic Co. Ltd., Kioxia Corp., Lumileds Holding BV, Luna Innovations Inc., Marktech Optoelectronics Inc., Nichia Corp., ROHM Co. Ltd., TE Connectivity Ltd., Toyoda Gosei Co. Ltd., Ushio America Inc., Vishay Intertechnology Inc., and Wolfspeed Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio