UV LED Market

Market Overview:

The global UV LED market size reached US$ 674.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,768.3 Million by 2028, exhibiting a growth rate (CAGR) of 16.1% during 2023-2028. The increasing demand for clean water, rising prevalence of various chronic and skin conditions, and the growing trend of miniaturization in consumer electronics represent some of the key factors driving the market.

An ultraviolet (UV) light-emitting diode (LED) is a solid state device that emits light when an electrical current flows from the positive side to the negative side of the circuit. It consumes less energy, has a longer lifespan, emits high intensity output, and generates less heat as compared to traditional UV lamps. It is also environment-friendly as it does not contain hazardous materials like mercury and produces ozone. It releases specific wavelengths of ultraviolet light, which allows for more precise control and customization of the output. It is used to disinfect the air by killing bacteria and viruses. As it offers a longer lifetime and greater reliability and enables system designers maximum design freedom, UV LED is find numerous applications across the globe.

UV LED Market Trends:

There is an increase in the use of UV LEDs in water purification systems to disinfect water by destroying bacteria, viruses, and other microorganisms. They are also used in sterilization applications, as they are the most cost effective way to provide safe drinking water. This, coupled with the rising demand for clean water, represents one of the major factors strengthening the market growth around the world. Moreover, the growing usage of UV LEDs in indoor horticulture to stimulate plant growth and increase yields is influencing the market positively. In addition, there is a rise in the adoption of UV LEDs in diagnostic testing for various diseases and conditions to identify the presence of certain biological materials, such as blood or saliva, in a sample. They are also utilized in wound healing by stimulating the growth of new tissue and promoting the healing of damaged tissue. This, along with the surging prevalence of various chronic and skin conditions, such as psoriasis, vitiligo, eczema, and acne among individuals, is favoring the growth of the market. Apart from this, the increasing requirement of UV LED for disinfection in consumer electronics, including smartphones, tablets, and laptops, to kill bacteria and viruses on the surfaces of these devices and reduce the risk of infections is propelling the growth of the market. Furthermore, the growing trend of miniaturization in consumer electronics and the rising adoption of LED technology for UV curing commercial and industrial materials like inks is creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global UV LED market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, material, application and industry vertical.

Type Insights:

• UV-A
• UV-B
• UV-C
   

The report has provided a detailed breakup and analysis of the UV LED market based on the type. This includes UV-A, UV-B, and UV-C. According to the report, UV-C represented the largest segment.

Material Insights:

• Silicon Carbide (SiC)
• Gallium Nitride (GaN)
• Sapphire
• Others
   

A detailed breakup and analysis of the UV LED market based on the material has also been provided in the report. This includes silicon carbide (SiC), Gallium Nitride (GaN), sapphire, and others.

Application Insights:

• Curing
• Disinfection/Purification
• Indoor Gardening
• Counterfeit Detection
• Others
   

The report has provided a detailed breakup and analysis of the UV LED market based on the application. This includes curing, disinfection/purification, indoor gardening, counterfeit detection, and others. According to the report, disinfection/purification represented the largest segment.

Industry Vertical Insights:

• Healthcare and Medical
• Agriculture
• Residential
• Industrial
• Commercial
   

A detailed breakup and analysis of the UV LED market based on the industry vertical has also been provided in the report. This includes healthcare and medical, agriculture, residential, industrial, and commercial. According to the report, healthcare and medical accounted for the largest market share.

Regional Insights:

• 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
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for UV LED. Some of the factors driving the Asia Pacific UV LED market included the expansion of disinfection and sterilization applications, product innovations, extensive research and development (R&D) activities, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global UV LED market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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, Seoul Semiconductor Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UV LED market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global UV LED market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UV LED industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.