Infrared Light-emitting Diode Market size is set to grow by USD 242.69 million f… – Press Release

NEW YORK, June 5, 2023 /PRNewswire/ — 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 region is a global manufacturing center for consumer electronics and other industrial products requiring infrared light-emitting diodes. Furthermore, infrared-emitting diodes are widely used in automotive applications such as driver monitoring and gesture control. The growing automobile production in APAC will drive the adoption of infrared light-emitting diodes, which ultimately drives the growth of the market during the forecast period. Moreover, 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) – Request a sample report

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Infrared Light-emitting Diode Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (Gallium arsenide LED and Aluminum gallium arsenide LED), application (consumer electronics, surveillance, automotive, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

• The market share growth by the gallium arsenide LED segment will be significant for overall market growth during the forecast…

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