UV LED Market to Outstrip US$ 1,311.7 Million by 2025 Growing Sturdy at 24.8% CAGR - Prominent Key Players and Region by The Insight Partners

According to the new research report published by The Insight Partners, titled "UV LED Market - Global Analysis and Forecast to 2025", the global UV LED market is expected to reach US$ 1,311.7 million by 2025, registering a CAGR of 24.8% during the forecast period 2017 to 2025.

The global market for UV LED exhibit significant growth owing to rising demand for curing process along with increasing concern regarding environment friendly and cost effective business processes. However, lack of standardization in measurement of UV light outputs might have an adverse impact on the market's growth during the forecast period.

UV LED Market: Competitive Landscape and Key Developments
Geographically the market is presently dominated by developed regions like North America and Europe, however the market is expected to be in favor of Asia Pacific, as the region is anticipated to witness tremendous industrialization over the coming years. Some of the major players having global market share are Koninklijke Philips, L.G Electronic, Crystal IS, Nichia Corporation, Phoseon Technology, SemiLEDs Corporation, Seoul Viosys Co. Ltd, Halma PLC, DOWA Electronics Materials Co., Ltd., and Heraeus Holding GmbH among others.

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Electronic devices comprise of instrumentation & sensing equipment which includes analytical instruments. These instruments primarily application in measurement of chemical content by using a coherent light source such as LEDs. Traditionally UV lamps are utilized, however with rising hazards of mercury and demand for UV as a light source will eventually pave the adoption of UV LED package for analytical applications. Features such as uniform optical light pattern, long operating life, and ecological support are identified some of the major factors increasing the adoption of UV-LEDs in sensing equipment. Majority of growth is concentrated in first half of the forecast period due to increased R&D and rising technical awareness of the product.

More than 85% of the segment market value is estimated to arrive from North America, Europe and Asia Pacific. This is primarily due to presence of end use companies in the region which caters to the demand for UV based sensing equipment globally. The electronic device segment for UV LED market is expected to witness a lucrative CAGR growth of 26.1% in the forecast period.

UV LED Market: Key Insights - Future Trend
This industrial development in the country is highly influenced by the various government initiatives promoting the growth of industrial sector in the country. Although the country's economic graph has remained rough, the country's industrial sector is spurring at a significant rate. Also, the country comprises a huge fragment of manufacturing sector that make use of UV LED s for the purpose of printing, coating and adhesives, which further contributes significantly to the market. As a result, the India market is projected to witness an attractive growth rate of 24.4% from 2017 to 2025.

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The UV LED market has been segmented on the basis of different technologies of UV LED, which includes UV-A LEDs, UV-B LEDs and UV-C LEDs. Each UV LED has a different application and is designed to fulfil varied end - users demand. Some of the key applications of this market are, curing, medical, electronic devices, water treatment, security and others. Curing applications is the largest consumer of UV LED and would continue its dominance over the forecast period.

UV LED Market: Segmental Overview
On the basis of technology, the global UV LED market is segmented into UV-A, UV-B, and UV-C. Since past several years UV LEDs have witnessed remarkable growth. This is majorly attributed to technological advances that have been implemented in manufacturing of solid state ultraviolet devices, nevertheless, the burgeoning demand for eco-friendly approaches of producing UV light, which until 2014 dominated by the mercury lamps is now gradually shifting towards LED based UV devices.

On the basis of application, the global UV LED market is categorized into curing, medical, electronics device, water treatment, security, and others. UV curing is a photochemical process, which uses high intensity UV light to cure/dry coatings, adhesives or inks.

Traditionally these process were conducted with the help of UV lamps. Then in early 20's UV LED were introduced. Curing process with UV LEDs showcases one the major shifts in industrial dying and printing, assembly and finishing technology. The UV LED based curing is not only energy efficient, but it also produces less heat, its mercury free and quick in terms of switching on and off.

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The next generation industries thrive for enhanced performance of UV LED curing systems that provide them with improvised and increased irradiance and life. In order to fill this demand and supply gap, the UV LED manufacturers are intensively working towards enhancement of product lifecycle and irradiance of UV LEDs, at the same time they are also focusing upon other functions and components of the system, which includes thermal management and optics.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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