Infrared Light-emitting Diode Market size is set to grow by USD 242.69 million from 2022 to 2027

The global infrared light-emitting diode market size is estimated to grow by USD 242.69 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period. APAC is estimated to account for 67% of the global market growth.

The widespread acceptance of remote controls by major smart TV and game console manufacturers in the region is another factor driving the demand for infrared-emitting diodes in APAC. Hence, such factors drive the regional market growth during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027).

he market share growth by the gallium arsenide LED segment will be significant for overall market growth during the forecast period. Gallium arsenide(GaAs) is a semiconductor that can emit light and is used in the LED field because of its direct bandgap. Furthermore, GaAs infrared emitting diodes are fast, which makes them suitable to be used in radio frequency (RF) devices such as mobile phones and microwave ovens, which are primarily used in military applications such as radar and smart weapons. Hence, such factors ultimately increase market revenue over the forecast period.