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

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.