UV-C LED Market Set to Illuminate at $8.1 Billion, Surging with a Spectacular 36.6% CAGR from 2023 to 2032
UV-C LED Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
WILMINGTON, DELAWARE, UNITED STATES, January 12, 2024 /EINPresswire.com/ — UV-C LED Market by Application (Water/air disinfection, Sterilization, Healthcare, Industrial, Sensing, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The global UV-C LED market was valued at $381.2 million in 2022, and is projected to reach $8.1 billion by 2032, growing at a CAGR of 36.6% from 2023 to 2032.
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A UV-C LED is a type of light-emitting diode that produces UV light with a wavelength of 100–280 nm. Comparing UVC LEDs to conventional sterilizing and disinfection techniques, there are many advantages. It has no dangerous materials, may be briefly turned on or off without a cycling restriction, uses less heat, extracts heat in a specific direction, and is more durable. By disrupting DNA, this radiation can eradicate a wide range of viruses, bacteria, molds, and other organisms. When chlorine disinfection fails, UV-C LEDs are effective against germs that are resistant to it. Additionally, using UV-C LEDs prevents the development of bacteria resistant to ultraviolet disinfection.
This innovative technology offers special benefits such reduced mercury content, small construction, and simple usage cycles, allowing improvements over existing systems as well as opening possibilities for new applications. A rapid and consistent decline in price as well as a considerable improvement in performance (power and efficiency), which enables UV-C LED to establish itself in the field of UV-C radiation disinfection, are some additional reasons boosting the UV-C LED market size.
At the outset of the COVID-19 pandemic, the UV-C LED market experienced a downturn due to supply chain challenges and decreased demand. Nevertheless, the industry quickly experienced a rise in demand owing to the surge in adoption of the same for disinfection purposes across industries, majorly the healthcare sector.
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Competitive Analysis:
The uv-c led industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the uv-c led market include,
• Nitride Semiconductors Co., Ltd.
• Seoul Viosys Co., Ltd.
• DOWA Holdings Co., Ltd.
• Asahi Kasei Corporation
• Photon Wave Co., Ltd.
• Nichia Corporation
• Taoyuan Electron Limited
• Signify Holding
• Convergever Inc., Ltd.
Top Impacting Factors:
Due to a rise in the use of UV-C LEDs as effective disinfectants and a surge in their use for water purification applications, the market for this technology is to expand significantly over the years. Additionally, during the forecast period, UV-C LED market development is anticipated to benefit greatly from the integration of UV-C LED with consumer goods and household appliances. On the other hand, issues with thermal management throughout UV-C LED solutions are the growth inhibitor for the UV-C LED market during the anticipated time.
Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international security screening market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.
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Key Benefits for Stakeholders:
1. This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the UV-C LED market analysis from 2022 to 2032 to identify the prevailing uv-c led market opportunity.
2. The market research is offered along with information related to key drivers, restraints, and opportunities.
3. Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
4. In-depth analysis of the UV-C LED market segmentation assists to determine the prevailing market opportunities.
5. Major countries in each region are mapped according to their revenue contribution to the global market.
6. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
7. The report includes the analysis of the regional as well as global UV-C LED market trends, key players, market segments, application areas, and UV-C LED market growth strategies.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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