IR LEDs have a long history of development and are used in a wide range of applications on a daily basis. Following the introduction of biometric sensors and biometric identification to smartphones and wearable devices, IR LED can also be used in Internet of Things (IoT) applications. Varied applications of IR LEDs hold great potential in the future. LEDinside estimates that the market value of IR LED (excluding sensors) will reach US $710 million at 24% CAGR by 2020, making it the new blue sea for LED manufacturers.