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
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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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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