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Global Infrared LED Market to See CAGR of over 9% during 2015-2020.
January 15, 2016 | Business WireEstimated reading time: Less than a minute
Research and Markets has announced the addition of the "Global Infrared LED Market: 2010-2020"report to their offering.
The global infrared LED market is projected to grow at a CAGR of more than 9% during 2015-2020.
Major factors propelling growth in the global infrared LED market include the rising use of infrared LEDs in smartphones for iris recognition, and increasing use of these LEDs in CCTVs and surveillance systems. Asia-Pacific is the largest regional market for infrared LEDs in the world, due to the increasing penetration of these LEDs in smartphones, automotive, surveillance systems and other segments.
Demand for infrared LEDs has been increasing over the last few years, on account of rising penetration of these LEDs in automotive, defense, consumer electronics, etc. Major applications of infrared LEDs include imaging, surveillance, automotive, lighting, etc. Infrared LEDs are also being increasing used in handheld devices for identity verification and mobile payment technologies. Rising security concerns in developing as well as developed countries is driving demand for surveillance devices and biometrics systems that are being deployed across various sectors such as education, defense, healthcare, residential, etc.
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