Infrared (IR) LED Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Infrared (IR) LED Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

The infrared (IR) LED market is poised to record a 15% CAGR over 2024-2032, driven by technological advancements and increasing demand across multiple sectors. IR LEDs are used widely in consumer electronics, such as remote controls, cameras, and optical communication systems. Additionally, the proliferation of smart devices and the Internet of Things (IoT) has heightened the demand for IR LEDs, essential for applications like motion sensing and gesture recognition.

The product is used for night vision in security cameras, ensuring clarity in low-light conditions. With global security concerns rising, the demand for advanced surveillance solutions is increasing. Furthermore, the technology advancement in technology, in consort with product incorporation in healthcare applications is pushing the industry growth. For instance, in November 2023, TNL Healthcare launched a Kickstarter crowdfunding campaign for COMLAX, the first stretchable IR LED patch. This innovative device provides personalized infrared light therapy with 72 LEDs, adapting to body contours for effective relief of sore muscles.

The overall infrared LED industry is classified based on spectral range, application, end-user, and region.

The gallium antimonide (GaSb) segment will gain significant traction through 2032, due to its ability to produce high-efficiency, high-performance IR LEDs that operate in the mid-infrared spectrum. GaSb-based LEDs are ideal for applications requiring precise IR detection and sensing, such as medical imaging, environmental monitoring, and advanced communication systems. The GaSb's advantages in achieving higher output power and better thermal stability compared to other materials is favoring its incorporation in both existing and emerging technologies.

The biometric application segment is experiencing notable growth due to the increasing popularity of fingerprint scanners and facial recognition systems in consumer electronics. IR LEDs provide the necessary illumination for capturing accurate and detailed biometric data in biometric applications. The advancement in IR LED technology ensures higher security and efficiency in user identification processes. As organizations and institutions prioritize secure access and identity verification, the demand for IR LEDs in biometric applications continues to rise.

Asia Pacific infrared (IR) LED market is set to experience robust growth over 2024-2032, driven by rapid industrialization. The wider adoption of smart devices, including smartphones, tablets, and home automation systems, has heightened the demand for IR LEDs, which are integral to various applications like gesture recognition, night vision, and proximity sensing. Additionally, the rise of infrastructure development and smart city initiatives in Asia Pacific is propelling the market, as IR LEDs are utilized in security and surveillance systems.