Infrared IR LED Market Insights Video

According to Cognitive Market Research, the global Infrared (IR) Led market size is USD 725.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 15.20% from 2024 to 2031.

• North America held the major market of more than 40% of the global revenue with a market size of USD 290.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.4% from 2024 to 2031.
• Europe accounted for a share of over 30% of the global market size of USD 217.56 million.
• Asia Pacific held the market of around 23% of the global revenue with a market size of USD 166.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.2% from 2024 to 2031.
• Latin America market of more than 5% of the global revenue with a market size of USD 36.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.6% from 2024 to 2031.
• Middle East and Africa held the market of around 2% of the global revenue with a market size of USD 14.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.9% from 2024 to 2031.
• The Medium held the highest Infrared (IR) Led market revenue share in 2024.