North America IR LED market is expected to reach over USD 350 million by 2024 owing to the increasing demands from the surveillance industry

Sellbyville, DE -- (SBWire) -- 10/09/2018 --The biometrics industry is the growing segment in the infrared LED market This is attributed to the growing adoption of iris and facial recognition in electronic devices. This increasing adoption is being propelled by mobile payment services that create the need for secure and reliable authentication for users. Several LED manufacturing companies are taking advantage of these opportunities and are launching advanced components for biometric applications.

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For instance, recently GOME, one of the electronic retailers in China collaborated with Osram Opto Semiconductors to integrate the Iris recognition technology in their smartphones. The company has Osram infrared components on all their smartphone offerings. The growing smartphone industry globally is projected to spur the IR LED market for iris and facial recognition.

The 850nm- 940nm wavelengths in the IR LED market are expected to grow at a CAGR of over 17% from 2018 to 2024, due to the increasing applications of these components in numerous applications. They are being widely integrated in the automotive systems, fueling the demand for components with this wavelength in the automotive and industrial sectors.

World Infrared (IR) LED Market is set to grow from its current market value of $400 million to more than $1 billion by 2024, grow at over 15% CAGR. The global shipments will witness 17% gains to reach over 8 billion units by 2024.

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Technological advancements in the automotive industry have fuelled the adoption of advanced driver assistance systems (ADAS), safety systems and telematics. These components are required for implementing these technologies and making them operative driving the IR LED market. Moreover, the technology is required for incorporating night vision and blind spot features into the automotive systems. This growing application of the technology for interior and exterior lighting applications in cars are benefiting the infrared LED market.

North America IR LED market is expected to reach over USD 350 million by 2024 owing to the increasing demands from the surveillance industry. The U.S. has been the major country for adopting advanced surveillance technologies such as artificial intelligence, facial recognition and surveillance automation. The demand for such technologies is increasing across airports, commercial buildings and other public buildings. Surveillance has been integral to the U.S. for law enforcement and is part of critical national infrastructure.

Prominent players in the IR LED market include EPILEDS, Epistar Corporation, Everlight Electronics Co. Ltd, Excelitas Technologies Corporation, High Power Lighting Corporation, Kingbright, LED Engin Inc., Lextar Electronics Corporation, Lite-On Inc., Lumileds, Luna Innovations Incorporated, Marktech Optoelectronics, Nichia Corporation, ON Semiconductor, Osram Opto Semiconductors Inc., ROHM Semiconductor, TE Connectivity Measurement Specialties, Ushio OPTO Semiconductors Inc., Vishay Intertechnology, and Wurth Electronics Inc.

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