According to the research report titled ‘Asia Pacific Infrared LED Market Size By Application, By Spectral Range, By End-use, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026’, available with Market Study Report, Asia Pacific infrared LED market is speculated to grow considerably between 2020-2026.
 

Increasing adoption of advanced security systems with stronger data & personal security solutions is a key factor driving Asia Pacific infrared LED market expansion. Development of smart cities and rising incorporation of technologies such as smart sensors, IoT, and machine learning will aid industry growth as well.
 

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The report also cites that companies manufacturing military equipment have started using advanced technology to make enhanced weaponry which will contribute to market proliferation over the analysis timeframe. Citing an example, in 2020, Hubbell Lighting Inc. launched ‘SpectraSafe’, a platform that helps users to capture high resolution images in low lighting and is used primarily for video security.
 

Based on spectral range, the industry is divided into 700nm-850nm, 950nm-1020nm, 850nm-950nm, and 1020nm-1070nm. Among these, 950nm-1020 nm segment is poised to witness rapid growth in the forthcoming years, owing to growing road safety concerns. Numerous automobile companies are adopting technologies like driver monitoring and gesture control in various models, which in turn is impelling the segmental share.
 

Speaking of application scope, Asia Pacific infrared LED market is bifurcated into biometrics, lighting, imaging, surveillance, and remote sensing. Moving on to end user spectrum, the business sphere is fragmented into BFSI, aerospace & defense, consumer electronics, automotive, healthcare, education, industrial, and retail. Among these, BFSI segment is likely to generate considerable revenues by the year 2026, due to high demand for technologies to enhance security for data privacy, as financial institutes are extremely prone to data loss/theft.
 

Key players profiled in the report are Ushio Opto Semiconductors Inc., Epistar Corporation, Osram Opto Semiconductors GmbH, Epileds Technologies Inc., TE Connectivity Corporation, ON Semiconductor, Everlight Electronics Co. Ltd., Lumileds Holding B.V., Excelitas Technologies Corporation, ROHM Co. Ltd., High Power Lighting Corporation, Nichia Corporation, Lextar Electronics Corporation, Marktech Optoelectronics Inc., and Lite-On Electronics Inc.