New York, NY, March 26, 2017 --(PR.com
)-- According to a TechSci Research report, “Global Infrared LED Market, By Function, By Application, By Region, Competition Forecast & Opportunities, 2012 - 2022,” the global market of infrared LED is projected to grow at a CAGR of over 22% during 2017-2022. Increasing number of manufacturing facilities, growing demand from automotive industry, expanding population base, and rising demand for surveillance are the major factors fueling demand for infrared LED across the world. Expanding health care sector, rising construction of smart homes and increasing disposable income, coupled with growing adoption in military and defense are further anticipated to drive demand for infrared LED, globally. Global smart home market stood at USD23.74 billion in 2016, which is further forecast to reach USD61.24 billion by 2021. Moreover, in 2012, global construction output was USD8.16 trillion, which is further projected to reach to USD12 trillion by 2020. All these factors are anticipated to positively influence global infrared LED market during 2017 – 2022.
Browse 02 market data Tables and 90 Figures spread through 140 Pages and an in-depth TOC on "Global Infrared LED Market, 2022"
Epistar Corp., Nichia, EverLight, High Power Lighting and Osram Opto were the leading companies operating in global infrared LED market in 2016, and these companies are expected to continue dominating the market during the forecast period as well. Asia-Pacific garnered the highest market share in global infrared LED market in 2016 due to increasing population, rising GDP and low prices for infrared LED products as compared to other regions of the world. On the basis of application, global infrared LED market has been broadly categorized into infrared imaging, infrared surveillance, infrared automotive applications, infrared lighting and infrared biometric. Infrared imaging dominated global infrared LED market in 2016, and the same trend is expected to continue over the next five years as well.
“Growing adoption in various industry applications, expanding global smart home market, increasing requirement of thermal measuring systems and rising initiatives being taken by number of governments to boost technology based on renewable resources coupled with easy accessibility and availability of infrared LED to aid global infrared LED market over the next five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Infrared LED Market By Function, By Application, By Region, Competition Forecast & Opportunities, 2012 - 2022” has evaluated the future growth potential of global infrared LED market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in global infrared LED market.
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