Future Market Insights projects that the global UV LED market will grow at a CAGR of 18.6%, reaching US$ 583 million in 2023 and US$ 3.2 billion by 2033. UV LED demand will be fueled by environmental sterilisation needs as well as the expanding healthcare industry.
In consumer electronics, UV LEDs are growing in popularity. Portable disinfection equipment, including tablets, cellphones, and other personal items, frequently uses UV-C LED diodes. Consumer goods using UV LEDs are anticipated to become more prevalent as people’s awareness of cleanliness and hygiene rises.
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Global UV LED Market: Market Dynamics
The primary forces behind market expansion are the numerous improvements in the manufacturing sector, the expansion of government energy conservation initiatives, and the broadening scope of technology’s potential uses. Numerous advantages of UV LED technology include its low power consumption, high switching speed, small size, reliable UV output, significant cost savings, and secure operation. As a result, almost all industries now use the technology extensively. Additionally, there were previously very few uses for UV LEDS.
Global UV LED Market: Competition Landscape
The key vendors in the global UV LED market are Koninklijke Philips N.V., Crystal IS, LG INNOTEK, NICHIA CORPORATION, Phoseon Technology, SemiLEDs Corporation, Seoulviosys Co., Ltd., Sensor Electronic Technology, Inc., Halma plc and Heraeus Holding.
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The report covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- 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: Segmentation
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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