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This report monitors the infrared light-emitting diode market and forecasts it to grow by USD 242.69 million between 2022 and 2027, with a CAGR of 8.09% during the forecast period.
The report provides a comprehensive analysis of the infrared light-emitting diode market, including market size and forecasts, trends, growth drivers and challenges, and vendor analysis covering approximately 25 vendors.
It offers the latest analysis of the current market scenario, recent trends and drivers, and the overall market environment. The market is driven by an increase in government security initiatives for video surveillance, a rise in the integration of biometric authentication in consumer electronics, and an increase in the adoption of night vision technology.
This study highlights the growing application of infrared light-emitting diodes in support of driver monitoring systems as one of the key factors driving growth in the infrared light-emitting diode market in the coming years. Additionally, the rise of smart cities and the transition of infrared light-emitting diode manufacturers to 6-inch wafer substrates are expected to lead to significant demand in the market.