By BizLED Bureau
Nov 6, 2015: According to Infrared LEDs – World – 2015 report by IHS, from 2014 to 2020 the market is likely to grow at a compound annual growth rate (CAGR) of nearly 8%.
IHS’ latest research note on infrared LEDs says that the industrial sector is leading the growth in infrared market revenue and is provisionally expected to rise by 7% (in $US) in 2015, led by growth in the CCTV camera market. Other important products in this area are factory automation light curtains and smoke detectors.
The report further says that this is supported mainly by growth of solid machinery production, high powered infra-red LEDs in CCTVs and smoke detectors.
Due to slowing growth in the mature consumer market and the poor economic situation this year in China and throughout the world, 2015 infrared revenue is expected to grow by mere 3%.
However, growth rates are predicted to rise to a healthier 5% during the next five years, as CCTV cameras continue to be one of the key areas of growth in the market.
While the Asia-Pacific (APAC) region observed nearly 69% of total infrared revenue in the forecast period of 2014 to 2020, revenue share varies by application.
In consumer applications, where low cost emitters for remote controls lead the market, APAC is even more dominant. However, in smoke detectors and CCTV cameras, there is a stronger market in the West, especially in Europe.
The infrared market leader Osram leads in revenue in both 2014 and 2015. Other leading suppliers are Everlight, Lite-ON, Sharp and Vishay.