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UV LED Market Expected to Reach $1.71 Billion by 2027

According to a new report published by Allied Market Research, titled, u201cUV LED Market by Type, Application, and End User: Opportunity Analysis and Industry Forecast, 2020u20132027u201d the global UV LED industry size was valued at $0.35 billion in 2019, and is projected to reach $1.71 billion by 2027, registering a CAGR of 21.7% during the forecast period. North America is the leading contributor to the global UV LED market, followed by Europe and Asia-Pacific in 2019.

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UV LED Market Expected to Reach $1.71 Billion by 2027

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  2. UV LED Market “The UV LED market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to rise in industrialization and increase in manufacturing activities in India, China, and South Korea. Moreover, this region is anticipated to gain significant growth during the forecast period, owing to major vendors based in Japan and China are making huge investments in line with the expanding applications of UV LEDs such as disinfection and sterilization.” AvinashSavekarLead Analyst, Semiconductor and Electronics Download PDF Sample

  3. UV LED Market According to a new report published by Allied Market Research, titled, “UV LED Market by Type, Application, and End User: Opportunity Analysis and Industry Forecast, 2020–2027” the global UV LED industry size was valued at $0.35 billion in 2019, and is projected to reach $1.71 billion by 2027, registering a CAGR of 21.7% during the forecast period. North America is the leading contributor to the global UV LED market, followed by Europe and Asia-Pacific in 2019. The UV LED includes various type of technologies such as UVA, UVB, and UVC. These technologies are used to fabricate LEDs for water purifiers, air purifiers, surface purifiers, sterilization, curing, indoor gardening, and others. The UVA technology holds the largest share in the overall UV LED market across the globe. The implementation of LEDs made with UVA technology in electronic devices is driving its growth in overall UV LED market. The global market comprises the LED-based products that find application in printing, disinfection/purification, agriculture, residential, and commercial. Use of UV LED in applications such as medical, forensic, counterfeit, and research are studied under the others segment.  Download PDF Sample

  4. UV LED Market The UV LED market is gaining popularity and emerging as a strong replacement for traditional incandescent bulbs. Furthermore, increase in demand for the UV LED lightings from the developed countries and growth in the awareness among the consumers in the developing nations are expected to boost the market growth. However, increase in prices of the UV LED is one of the major factors that restrain the market growth. On the contrary, the development and innovative photo initiators market is anticipated to create lucrative opportunity for the UV curing application in industries associated with graphic arts and coatings. These industries are growing at a very fast pace of 10% per year and becoming multi-billion-pound industries worldwide. They are adopting UV curing techniques by replacing conventional solvent-based thermal drying method as it requires low current, low consumption, increased productivity, and better-quality product.  The healthcare and medical segment was the largest contributor of revenue in 2019, and is expected to grow at a CAGR of 22.8% from 2020 to 2027. Growth in focus toward adoption of UV LEDs to prevent skin infections is expected to provide growth opportunities to the market players. Download PDF Sample

  5. UV LED Market • The qualitative data in the report aims on the UV LED Markettrends, dynamics, and developments in the industry while the quantitative data provides information regarding the market share and market size in terms of revenue and volume. • Key Findings Of The Study • In 2019, the UV-A segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 16.0% during the forecast period.   • The disinfection/purification segment accounted for more than 30.0% of the UV LED market share in 2019. • The UV-C segment is expected to witness highest growth rate during the forecast period. • China was the major shareholder in the Asia-Pacific UV LED market, accounting for approximately 30.0% share in 2019.  Download PDF Sample

  6. UV LED Market • MajorCompanies: • Nordson Corporation, • LG Innotek Co. Ltd. • LumiledsHolding B.V • Nichia Corporation • OSRAM • KoninklijkePhilips N.V. • Semileds Corporation • Crystal IS • Sensor Electronic Technology • PhoseonTechnology Download PDF Sample

  7. UV LED Market Contact: DavidCorrea 5933 NE Win Sivers Drive #205, Portland, OR 97220 UnitedStates Toll Free(USA/Canada): +1-800-792-5285, +1-503-894-6022,+1-503-446-1141 UK: +44-845-528-1300 Hong Kong:+852-301-84916 India (Pune): +91-20-66346060 Fax:+1⟨855⟩550-5975 help@alliedmarketresearch.com Web:https://www.alliedmarketresearch.com Download PDF Sample

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