Lately, UV LEDs have gained remarkable momentum based on their growing application in printing, and medical operations. In contrast to broader UV lamps, these lamps comprise a narrow band that mitigates the possibility of being exposed to the wrong wavelength. This has created tailwinds for the global UV LED market. In addition, UV-C technology has extended its applications in the novel field of disinfectants. It is comprehensively utilised in air and water purification systems. Alongside major developments including flux density and optimal performance with a high wavelength, these UV LEDs also serve as an ideal replacement for mercury lamps. Such novel innovations and developments in the field are propelling the demand for UV LEDs around the globe. During the forecast period, industrial application of UV LED will likely unfold new dynamics for the global UV LED market.
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Growing Concerns Apropos to Provision of Purified Water to Unlock New Avenues for UV LED Market Growth
Emerging and developed nations are facing a dire need to provide citizens with water that is safe for consumption and other purposes. This has translated into remunerative growth opportunities for the UV LED market. Comprehending the given benefits, consumers in both, commercial and residential sectors are extensively incorporating UV LEDs. Notably, UV light can penetrate the cells of microorganisms and block their DNA. This helps in preventing their multiplication which ultimately causes disease. The global rise in population and inadequate water supply has stimulated the demand for purified water on the global front. To this end, various manufacturers are tapping into the potential opportunities presented by the water purification market.
Horticulture Trends, and Surge in RD Activities to Bode Well for UV LED Market
World over, the growing trend of horticulture and indoor farming in developing nations has created headways for the adoption of counterfeit currency detection systems. This, in turn, has surged the demand for UV LEDs on a global level. Considering the growth potential, key players in the market are ramping up their research and development endeavours and emphasising product innovation strategies to strengthen their market positions. Additionally, prudent alliances among major players shall further enable them to cement their presence in the market. All these aspects are poised to enhance the global UV LED market landscape, creating promising prospects for the upcoming years.
Asia Pacific to Consolidate a Strong Foothold in Global UV LED Market, Backed by Strong Government Support
Asia Pacific is anticipated to hold a lion's share in the global UV LED market. This growth is attributed to propitious government initiatives relevant to the regional healthcare and pharmaceutical sector. The mushrooming pharmaceutical industry is further fuelling the adoption of UV LEDs. These UV LEDs play a momentous role in bio-pharmaceutical procedures including DNA analysis, phototherapy, the discovery of new drugs, protein synthesis, and vitamin analysis. Moreover, soaring UV LED adoption in the region is nurturing solid ground for market expansion.
Key Companies in UV LED Market
Some of the most competitive players in the global UV LED market include NITRIDE SEMICONDUCTORS Co., Ltd., Signify NV, Seoul Viosys Co., Ltd., Ltd., LITE-ON Technology, Inc., Nichia Corporation, DOWA HOLDINGS CO., LTD., Nikkiso Co., Epitop Optoelectronic co., LTD., ams-OSRAM International GmbH, and Crystal IS, Inc.
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