Press release
UV LED Market Growth Projections 2020–2027: Share, Size, Trends and Business Growth Strategies by Nordson Corp, LG Innotek, Lumileds Holding B.V, Nichia Corp, OSRAM, Koninklijke Philips N.V., Semileds Corporation, Crystal IS, Sensor Electronic Technolog
UV LED Market
The UV LED technology can convert electrical energy into ultraviolet light. The UV LED includes various type of technologies such as UVA, UVB, and UVC. These technologies are used to fabricate LEDs for water purifiers, air purifiers, surface purifiers, sterilization, curing, indoor gardening, and others. The UVA technology holds the largest share in the overall UV LED market across the globe.
According to the report published by Allied Market Research, the global UV LED market generated $0.35 billion in 2019, and is estimated to reach $1.71 billion by 2027, registering a CAGR of 21.7% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
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Key Players and Their Strategies:
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.
Market players have adopted various strategies such as product launch, product development, expansion, and partnership to expand their foothold in the UV LED industry.
Covid-19 Impact Analysis: Healthcare and Medical segment impacted positively, due to the COVID scenario.
An increase in demand for UV system in the healthcare and medical sector is likely to drive the UV LED market growth during the forecast period. The business for UV systems specific to the healthcare industry is less affected as compared to other verticals. There is an increased demand for medical equipment and other required devices for helping COVID-19 patients and stopping the spread of the virus. These factors are expected to create high demand for UV LED industry.
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Key Benefits For Stakeholders from this Research Report:
• 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.
• The overall UV LED market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and UV LED market opportunities with a detailed impact analysis.
• The current UV LED market forecast is quantitatively analyzed from 2017 to 2027 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and the UV LED market share of key vendors.
• The report includes the UV LED market trends and the market share of key vendors.
The report offers a detailed segmentation of the global UV LED market based on type, application, industry vertical, and region.
Based on type, the UV A segment contributed to the largest share in 2018, contributing to nearly three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the UV C segment is estimated to portray the highest CAGR of 27.0% during the forecast period.
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Based on application, the disinfection/purification segment held the largest share in 2018, holding nearly one-third of the total share, and is expected to maintain the largest share throughout the forecast period. However, the indoor gardening segment is expected to register the highest CAGR of 21.5% from 2019 to 2026.
Based on region, North America contributed the highest share, contributing to nearly two-fifths of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, the market across Asia-Pacific is expected to grow at the highest CAGR of 21.1% from 2019 to 2026.
Key Market Segments
By Type
• UV-A
• UV-B
• UV-C
By Application
• Curing
• Disinfection/Purification
• Indoor Gardening
• Counterfeit Detection
• Others
By Industry Vertical
• Healthcare and Medical
• Agriculture
• Industrial
• Residential
• Commercial
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o UK
o Italy
o Rest of Europe
• Asia-Pacific
o Japan
o China
o India
o South Korea
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa
Key Players
• 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
Read More at https://www.globenewswire.com/news-release/2020/06/04/2043742/0/en/Global-UV-LED-Market-to-Reach-1-2-Billion-by-2026-at-17-3-CAGR.html
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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