Short Wave IR (SWIR) LED Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Short Wave Infrared (SWIR) LED Market will record 9.5% growth from 2024 to 2032. This expansion is primarily driven by the increasing demand for advanced imaging and sensing technologies across various industries. For instance, according to a report by the International Energy Agency (IEA), the adoption of advanced imaging technologies in the renewable energy sector has grown by 15% annually. The market growth is further supported by technological advancements in SWIR LED manufacturing, improving the efficiency and applicability of these devices in fields such as industrial automation, medical diagnostics, and defense.

The overall Short Wave Infrared (SWIR) LED Industry is categorized based on spectral range, power output, end-use, application, and region.

The 700nm-850nm spectral range segment will capture a notable share of the SWIR LED market by 2032. This segment's growth is attributed to its versatility and efficiency in various applications, including medical diagnostics, spectroscopy, and industrial inspection. LEDs in this spectral range are increasingly preferred for their ability to provide high-contrast images and reliable performance in low-light conditions. Additionally, advancements in LED technology are enhancing the performance and energy efficiency of 700nm-850nm LEDs, driving their adoption across multiple industries. The growing need for precise imaging and sensing solutions in critical applications will continue to fuel the demand for LEDs in this spectral range.

The solar simulator application segment will experience significant growth throughout the forecast period. Solar simulators, which utilize SWIR LEDs, are essential tools in testing and calibrating solar panels and other photovoltaic devices. The rising adoption of renewable energy sources and the increasing focus on improving the efficiency of solar energy systems are driving the demand for advanced solar simulators. SWIR LEDs, with their ability to closely mimic the solar spectrum, are becoming the preferred choice for solar simulators, ensuring accurate and consistent testing results. As the renewable energy sector continues to expand, the demand for solar simulators, and consequently SWIR LEDs, is expected to rise significantly.

Europe is expected to lead Global SWIR LED market over the forecast period, driven by the region's strong focus on innovation and technological advancements. The well-established industrial base, coupled with significant investments in research and development, is fostering the adoption of SWIR technology across various sectors, including automotive, aerospace, and healthcare. Additionally, the EU's stringent regulations on energy efficiency and environmental sustainability are encouraging the use of energy-efficient SWIR LEDs in industrial and commercial applications. The presence of key market players and a robust infrastructure further support the growth of the SWIR LED market in Europe, positioning the region as a leader in this rapidly evolving industry.

Product Code: 5553

Chapter 1 Scope and Methodology

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast parameters
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Technology and innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
- 3.7.1 Growth drivers
  - 3.7.1.1 Growing sensor integration in the healthcare industry
  - 3.7.1.2 Rising automation in industries
  - 3.7.1.3 Increasing demand for non-destructive testing methods
  - 3.7.1.4 Supportive government regulations on safety and security applications
  - 3.7.1.5 Rising demand for advanced imaging solutions
- 3.7.2 Industry pitfalls and challenges
  - 3.7.2.1 Increasing concerns related to data privacy
  - 3.7.2.2 High production costs
3.8 Growth potential analysis
3.9 Porter's analysis
- 3.9.1 Supplier power
- 3.9.2 Buyer power
- 3.9.3 Threat of new entrants
- 3.9.4 Threat of substitutes
- 3.9.5 Industry rivalry
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Spectral Range, 2021 - 2032 (USD Million and Units)

5.1 Key trends
5.2 700nm-850nm
5.3 850nm-950nm
5.4 950nm-1020nm
5.5 1020nm-2500nm

Chapter 6 Market Estimates and Forecast, By Power Output, 2021-2032 (USD Million and Units)

6.1 Key trends
6.2 Below 1 W
6.3 1 W - 5 W
6.4 Above 5 W

Chapter 7 Market Estimates and Forecast, By Application, 2021 - 2032 (USD Million and Units)

7.1 Key trends
7.2 Medical
- 7.2.1 Blood analysis
- 7.2.2 Tissue imaging
- 7.2.3 Pulse oximetry
- 7.2.4 Others
7.3 Solar Simulator
- 7.3.1 Photovoltaic testing
- 7.3.2 Material testing
- 7.3.3 Spacecraft testing
- 7.3.4 Others
7.4 Machine Vision
- 7.4.1 Defect detection
- 7.4.2 Material sorting
- 7.4.3 Barcode scanning
- 7.4.4 Others
7.5 Optical Sorting
- 7.5.1 Food sorting
- 7.5.2 Recycling sorting
- 7.5.3 Mining and mineral sorting
- 7.5.4 Plastics sorting
- 7.5.5 Others
7.6 Biometrics
- 7.6.1 Vein pattern recognition
- 7.6.2 Facial recognition
- 7.6.3 Iris scanning
- 7.6.4 Others
7.7 Imaging
- 7.7.1 Art Inspection and restoration
- 7.7.2 Forensic imaging
- 7.7.3 Agricultural imaging
- 7.7.4 Others
7.8 Lighting
7.9 Remote sensing
- 7.9.1 Environmental monitoring
- 7.9.2 Forest fire detection
- 7.9.3 Water quality assessment
- 7.9.4 Others
7.10 Surveillance
- 7.10.1 Low-Light surveillance
- 7.10.2 Perimeter security
- 7.10.3 Facial recognition in darkness
- 7.10.4 Others

Chapter 8 Market Estimates and Forecast, By End-Use, 2021-2032 (USD Million and Units)

8.1 Key trends
8.2 Aerospace and defense
8.3 Automotive
8.4 BFSI
8.5 Consumer electronics
8.6 Education
8.7 Healthcare
8.8 Industrial
8.9 Retail
8.10 Others

Chapter 9 Market Estimates and Forecast, By Region, 2021-2032 (USD Million and Units)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 Saudi Arabia
- 9.6.3 South Africa
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 ALPHA-ONE ELECTRONICS LTD.
10.2 Brightek (Europe) Limited
10.3 DOWA Electronics Materials Co., Ltd.
10.4 EPILEDS
10.5 Epistar Corporation
10.6 Everlight Electronics Co Ltd
10.7 Excelitas Technologies Corporation
10.8 Hamamatsu Photonics K.K.
10.9 High Power Lighting Corporation
10.10 Kingbright
10.11 Lextar Electronics Corporation
10.12 Lite-On Inc.
10.13 Lumileds
10.14 Marktech Optoelectronics
10.15 ON Semiconductor
10.16 OSRAM Opto Semiconductors Inc.
10.17 ROHM Semiconductor
10.18 Ushio OPTO Semiconductors Inc.
10.19 Vishay Intertechnology
10.20 Wurth Electronics Inc.