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Infrared LED market growing at nearly 8 percent

Industrial sector is leading revenue growth

According to IHS' latest Research Note on infrared LEDs, the industrial sector is leading growth in infrared market revenue. This is provisionally projected to increase by 7 percent (in $US) in 2015, led by growth in the CCTV camera market. Factory automation light curtains and smoke detectors are also important products in this area. 

According to the IHS 'Infrared LEDs - World - 2015 report', from 2014 to 2020 the market is expected to grow at a compound annual growth rate (CAGR) of nearly 8 percent. This growth is supported mainly by solid machinery production growth, high powered infra-red LEDs in CCTVs and smoke detectors.

Due to slowing growth in the mature consumer market (where year-over-year infrared LED revenues are projected to be down nearly 5 percent in 2015) and the economic situation this year in China and the world, 2015 infrared revenue will only grow by 3 percent; however, growth rates are forecast to rise to a healthier 5 percent during the remainder of the decade, as CCTV cameras continue to be one of the key areas of growth in the market.

While the Asia-Pacific (APAC) region accounted for nearly 69 percent of total infrared revenue in the forecast period of 2014 to 2020 (based on products shipped to location), 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 -- particularly in Europe.

The infrared market leader is Osram, which leads in revenue in both 2014 and 2015. Other leading suppliers include Everlight, Lite-ON, Sharp and Vishay.

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