Press Release
Press Release
The market in North America is being driven by the rising prevalence of smart offices and smart homes. The demand for high-security devices in countries like the United States, which use advanced IR LED technology, is significantly increasing and further propelling the market growth. Europe also holds a significant share of the market due to the rising demand for safety alarms and surveillance cameras due to its growing geriatric population. The Asia Pacific market is expected to witness robust growth due to the increasing production and demand for electronic goods in India, China, South Korea, and Japan. The escalating disposable income is increasing the demand for advanced and premium electronic devices that operates remotely; this is further invigorating the growth of the industry in the region. In addition, favorable government policies and increasing investments for consumer goods and automotive production in countries like China, India, and Indonesia are expected to further propel the market growth in the forecast period.
The increasing competition among the leading players to develop new and more advanced products positively impacts industry growth. OSRAM Opto Semiconductors GmbH (ETR: OSR), one of the critical companies, presented the world’s smallest broadband infrared LED for spectroscopy applications in September 2020. It covers a broad wavelength range of emitted light and can analyse any object through it. The software processes the emitted light and compares it with documented information stored in the cloud to produce the measurement results. Due to its small size can be used in smartphones and spectroscopy and provide more efficient results than its predecessors. Such developments are expected to fuel the market growth in the forecast period.
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The major players in the global IR LED industry are OSRAM Opto Semiconductors GmbH, EPILEDS Technologies, Inc., Epistar Corporation, Nichia Corporation, Kingbright Company, LLC, Everlight Electronics Co., Ltd, and ROHM Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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