Infrared Light-emitting Diode Market to record USD 201.68 Mn growth
The global infrared LED market is fragmented. The market comprises some well-established players that are involved in the design and manufacturing of infrared LEDs for end-users across a wide range of industries.
These vendors are making significantly huge investments in research and development to push better products into the market and expand their customer base. Mergers, acquisitions, and strategic partnerships are some other ways the vendors in this market are taking to strengthen their position. As the market growth over the next five years is expected to remain slow, the landscape is expected to remain competitive during the forecast period.
Although the increasing government security initiatives for video surveillance will offer immense growth opportunities, the ongoing slowdown in the Chinese economy will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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