Press release
at 17.3% CAGR, UV LED Market to Reach $1.2 Bn by 2026 | Nordson Corp, LG Innotek, Lumileds Holding, Nichia Corp, OSRAM, Koninklijke Philips, Semileds Corp, Crystal IS, Sensor Electronic Technology, and Phoseon Technology
UV LED Market
Leading Market Players
The key players profiled in the report include Nordson Corporation, LG Innotek Co. Ltd., Lumileds Holding B.V, Nichia Corporation, OSRAM, Koninklijke Philips N.V., Semileds Corporation, Crystal IS, Sensor Electronic Technology, and Phoseon Technology. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.
COVID-19 Pandemic disrupted the entire world and affected many industries.
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Worldwide UV LED Market Report: Research Methodology
Market examination is acquired through inside and out optional research which is approved and confirmed by essential meetings. Each essential research is broke down and normal market volume is derived and reconfirmed preceding consolidating in the report. The cost of UV LED Market is determined over all the surveyed locales and weighted normal cost is additionally thought of. The market estimation of the worldwide UV LED Market is accordingly determined from the information reasoned from the normal selling cost and market volume.
North America to maintain its dominant position by 2026
Based on region, North America held the largest market share in 2018, accounting for nearly two-fifths of the total market share. This is due to due to rise in demand for advanced technologies in the security and other industrial sectors. However, Asia-Pacific is expected to portray the highest CAGR of 21.1% from 2019 to 2026. This is due to huge rise in the number of developers and the flourishing electronics sector.
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Drivers, restraints, and opportunities
Surge in government initiatives toward energy efficiency, rapid growth in usage of environment safe LEDs, and growth in utilization of UV curing system are the factors that drive the growth of the global UV LED market. On the other hand, growth of UV LED lights in various application and development of high efficiency of UV LEDs create new opportunities in the industry.
The UV A segment to maintain its dominance by 2026
Based on type, the UV A segment accounted for the highest market share in the global UV LED market, accounting for nearly three-fourths of the total market share in 2018, due to its huge demand in various applications in security & surveillance industry. However, the UV C segment is expected to grow at the fastest CAGR of 27.0% from 2019 to 2026, owing to its use in various applications including water purification, air purifiers, and food preservation, medical sanitation in commercial and residential.
The disinfection/purification segment to maintain its leadership position by 2026
Based on application, the disinfection/purification segment accounted for nearly one-third of the total market share of the global UV LED market in 2018, owing to the ability of UV LED to eliminate or remove microorganisms and its wide adoption in industries including scientific, healthcare, industrial, consumer, and commercial. On the other hand, indoor gardening segment is expected to witness the highest CAGR of 21.5% from 2019 to 2026, due to its high-intensity light and responsibility for healthy growing environment by reducing all plant pests.
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Key Benefits for UV LED Market :
o This study comprises analytical depiction of the global UV LED market size along with the current trends and future estimations to depict the imminent investment pockets.
o The overall UV LED market analysis is determined to understand the profitable trends to gain a stronger foothold.
o The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
o The UV LED market forecast is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
o Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
o The report includes the UV LED market share of key vendors and market trends.
UV LED Market to Reach $1.2 Bn, Globally, by 2026 at 17.3% CAGR @ https://www.prnewswire.com/news-releases/uv-led-market-to-reach-1-2-bn-globally-by-2026-at-17-3-cagr-allied-market-research-300959895.html
UV LED Market Segments:
By Type
o UV A
o UV B
o UV C
By Application
o UV Curing
o Disinfection/Purification
o Indoor Gardening
o Counterfeit Detection
o Others
By Industry Vertical
o Healthcare
o Agriculture
o Security
o Printing
o Residential
o Commercial
By Region
o North America
o U.S.
o Canada
o Mexico
o Europe
o UK
o Germany
o Italy
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o Korea
o Rest of Asia-Pacific
o LAMEA
o Latin America
o Middle East
o Africa
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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