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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.”
Avinash Savekar Lead Analyst, Semiconductors & Electronics at Allied Market Research Download PDF Sample
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. 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.
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UV LED Market Region wise, the mixed signal IC market share has been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America garnered the highest revenue in 2019; however, the market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. Factors such as increase in adoption of 5G technology, low power consumption by mixed signal ICs, and rise in demand for consumer applications are expected to contribute toward the market growth in Asia-Pacific. The mixed signal SoC segment was the largest revenue contributor in 2019, and is expected to grow at a CAGR of 6.9% from 2020 to 2027. This is attributed to the fact that mixed signal SoCs are widely used across number of end-use industries such as consumer electronics, medical & healthcare, IT & telecommunication, military & defense, and automotive. Moreover, low power consumption by mixed signal SoCs notably boosts their adoption, globally.
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UV LED Market 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.
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The disinfection/purification segment accounted for more than 30.0% of the UV LED market share in 2019.
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The UV-C segment is expected to witness highest growth rate during the forecast period.
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China was the major shareholder in the Asia-Pacific UV LED market, accounting for approximately 30.0% share in 2019.
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UV LED Market
Major Companies:
Nordson Corporation LG Innotek Co. Ltd. Lumileds Holding B.V Nichia Corporation OSRAM Koninklijke Philips N.V. Semileds Corporation Crystal IS Sensor Electronic Technology Phoseon Technology
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UV LED Market Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free (USA/Canada): +1-800-792-5285, +1503-894-6022, +1-503446-1141 UK: +44-845-528-1300 Hong Kong: +852-30184916 India (Pune): +91-2066346060 Fax: +1⟨855⟩550-5975
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