Infrared (IR) LED Market to Hit 15% CAGR to 2024: Top Key Players Osram, Epistar, EVERLIGHT, Vishay Intertechnology, Inc., Raytek Corporation, Lite-on Technology

Selbyville, DE -- (SBWIRE) -- 11/15/2018 -- The global infrared (IR) led market is anticipated to depict an upward trend in the upcoming years, attributed to the rapid transition in the optoelectronics industry, the players of which have been lately favoring LEDs, such as infrared and UV LED. The immense demand for these LEDs in facial and iris recognition techniques for biometric recognition and surveillance is a key catalyst for this pragmatic shift. Panasonic, a famous Japanese electronics manufacturer, has recently launched its new smartphones Eluga X1 & Eluga X1 Pro in India, both of which are powered with infrared LED face unlocking mechanism, and artificial intelligence features. The rising prevalence of feature rich gadgets would thus favorably influence IR LED market growth in the years to come.