UV LED Market Size

UV LED Market Size

Global UV LED Market size valued at USD 400 million in 2021 and is expected to grow at over 20% CAGR from 2022 to 2030. Rising demand for UV LED in air and water purifiers is likely to drive the industry growth

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Ultraviolet Light Emitting Diode (UV LED) is a device is a technology that transforms electrical energy into ultraviolet light, which finds usage in a variety of applications, such as disinfection, sterilization, forensics, indoor gardening, purification, and medicine phototherapy. Rising consumer preference for these products in curing systems will spur the industry growth.

Government initiatives for implementing green curing technology, mainly in developed countries viz., the U.S. and Europe, will have a significant impact on the UV LED market demand. Rapid digitization and growing energy consumption will also positively affect product sales. In addition, the ability of Ultravoilet LEDs to kill harmful germs and viruses and growing interest in safety and security will accelerate the adoption of these LEDs in smart home appliances in developing nations.
 

Furthermore, companies are focusing on product innovation and strategic alliances to strengthen their presence over the forthcoming years. Additionally, the expanding healthcare sector will benefit companies in terms of revenue generation.