UV LED Market Size, Share, Industry Trends, Growth, Opportunities, Analysis and Forecast by 2027
According to the latest report by IMARC Group, titled "Global UV LED Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027", the global UV LED market reached a value of US$ 572.3 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,531.70 Million by 2027, exhibiting a CAGR of 16.50% during 2022-2027.
Ultraviolet (UV) light-emitting diodes (LEDs) are light-producing devices that produce lights invisible to the naked eyes. These solid-state devices create light by passing the electrical current from the positive side to the negative side of the circuit. They also offer high switching capabilities, compact size, consistent UV output, high-cost savings, and safe operations. UV LEDs are gaining traction among consumers as they are used to authenticate documents like passports, credit cards, forensics, currency, driver's licenses, industrial curing of printing, coatings, adhesives, advanced imaging, and biological inactivation.
Base Year: 2021
Forecast Year: 2022-2027
UV LED Market Trends and Drivers:
The global UV LED market is primarily driven by its utilization in the field of forensics, purification, indoor gardening, sterilization, medical phototherapy, and disinfection. In addition, governments in different countries are implementing initiatives to adopt viable alternatives to mercury bulb lamps, which provide low energy consumption.
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This has escalated the demand for UV LEDs as they are environment-friendly alternatives to conventional lights that consume less energy, do not produce ozone, or contain harmful mercury.
Nowadays, the emerging trend of miniaturization in consumer electronics and extensive improvements in the flux density, stability, and life house of UV LEDs are creating a viable solution for the replacement of conventional UV light sources, thereby influencing the market growth across the globe.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global UV LED Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Asahi Kasei Corporation, Dr. Hönle AG, FUJIFILM Corporation, Heraeus Holding GmbH, Koninklijke Philips N.V., Lumileds Holding B.V., Nichia Corporation, Nordson Corporation, Osram Licht AG (ams AG), Phoseon Technology, SemiLEDs Corporation and Seoul Semiconductor Co. Ltd.
The report has segmented the market on the basis of region, type, material, application and industry vertical.
Breakup by Type:
Breakup by Material:
· Silicon Carbide (SiC)
· Gallium Nitride (GaN)
Breakup by Application:
· Indoor Gardening
· Counterfeit Detection
Breakup by Industry Vertical:
· Healthcare and Medical
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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