UV LED Market by Technology, Application, Medical & Scientific, Sterilization & Security, and Geography - Global Forecast to 2020
NEW YORK, Dec. 29, 2015 /PRNewswire/ -- The UV LED is a growing technology with new developments and applications leading the use of different wavelength for variety of applications. This market is growing as the interest of major players to invest in UV LED is increasing despite the high cost of UV LED. This technology is used in various segments such as industrial, security, sterilization and medical & scientific along with various applications such as curing, printing, forensic, coating, R&D, disinfection, and so on.
The UV LED market is growing considerably because of technological advancements in UV LED devices such as evolution from mercury lamp to UV LED lamp and the increasing demand for UV LED in the disinfection and curing applications. The market for sterilization segment is growing gradually with their increasing use in the purification application. Many companies such as Sensor Electronics Technology Inc. (U.S.), Crystal IS, Inc. (Newyork), Xenex Disinfection Services (U.S.), Trojan Technologies (Canada), Aquionics, Inc. (U.S.), LiqTech International, Inc. (Denmark) are working in the field of purification that are technologically advanced and also cost-effective for customer's pockets. Apart from purification; applications such as deodorization, forensic and counterfeit detection are also used in devices with UV LED technology. These devices are used in various applications for security and deodorizer purposes. UV LED is categorized into three major technologies, namely, UVA, UVB, and UVC LED technology. This segmentation is based on the level of wavelength used for variety of application from industrial to consumer level. The UV LED market is segmented on the basis of application into industrial, medical & scientific, security, and sterilization application. The industrial application segment of UV LED is expected to be worth USD 67.88 million in 2015 and is expected to reach USD 179.28 million by 2020, at a high growth rate. The industrial application segment of UV LED includes curing, lithography, and Non-line of sight (NLOS) communication. Sterilization plays a significant role in the UV LED market as the quality of the water, air, and surface is purified, which helps to maintain the environment for the user.
The UV LED market is segmented on the basis of geography into North America, Europe, APAC, and the Rest of World (RoW). The North American region is an advanced region for this technology, but in the next few years, the APAC region is expected to show high growth. Several companies are operating in this market to provide UV LED technology, especially disinfection services. High potential growth is expected in the UV LED market in the next five years and this is attracting many major companies as well as technology giants to invest in this market. LG Electronics Inc. (South Korea), Koninklijke Philips N.V. (Netherlands), Honle Group (Germany), Nordson Corporation (U.S.), SemiLEDs Corporation (Taiwan), Halma Plc (U.K.), Heraeus Holding GmbH (Germany), Crystal IS Inc. (U.S.), Seoul Viosys Co, Ltd. (South Korea), Sensor Electronics Technology Inc. (U.S.), and Nichia Corporation (Japan) are some of the dynamic companies present in the UV LED market.
This report describes the value chain for the UV LED market by considering major stakeholders in the market and their subsequent roles. The report also provides a detailed study of the Porter's Five Forces analysis of the market.
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