The worldwide UV LED market is expected to develop at a compound annual growth rate (CAGR) of 18.6%, according to Future Market Insights, reaching US$ 3.2 billion by 2033 and US$ 583 million in 2023. The growing healthcare sector and the requirement for environmental sanitation will drive demand for UV LEDs.
UV LEDs are becoming more and more common in consumer gadgets. UV-C LED diodes are widely used in portable disinfection equipment, such as tablets, telephones, and other personal things. Increased awareness of cleanliness and hygiene is expected to lead to a growth in the use of UV LEDs in consumer items.
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Global UV LED Market: Market Dynamics
Primarily, the numerous improvements in the manufacturing sector drive market expansion. Furthermore, the expansion of government energy conservation initiatives contributes significantly. Moreover, the broadening scope of technology’s potential uses adds to this growth. Notably, UV LED technology boasts numerous advantages including low power consumption, high switching speed, small size, reliable UV output, significant cost savings, and secure operation. Consequently, almost all industries now extensively utilize the technology. Additionally, UV LEDS had very few applications in the past.
Global UV LED Market: Competition Landscape
Examining the competitive landscape of the global UV LED market, key vendors include Koninklijke Philips N.V., Crystal IS, LG INNOTEK, NICHIA CORPORATION, Phoseon Technology, SemiLEDs Corporation, Seoul Viosys Co., Ltd., Sensor Electronic Technology, Inc., Halma plc, and Heraeus Holding.
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Transition words:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Furthermore, the regional analysis includes transition words for:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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Global UV LED market is segmented on the basis of technology, application and region.
On the basis of technology, the global UV LED market can be segmented into
- UV-A
- UV-B
- UV-C
On the basis of application, the global UV LED market can be segmented into
- electronic devices
- sterilization
- water treatment
- curing
- medical
- others
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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