NEWS
NEWS
The more optimistic market estimation about UVC LED during 2020~2025
03-09-2021
The electromagnetic spectrum of ultraviolet light can be divided into several major wavelengths. The draft ISO standard on determining solar irradiances (ISO-DIS-21348) describes the UVA (400~315nm), UVB (315~280nm), UVC (280~100nm). UVC LED is a kind of Ultra-violet LED (UV LED) with light emitted in the UVC spectrum.
The highest penetration and usage of UV LEDs today is in curing applications, but other applications such as water and air disinfection are increasing their reliance on UV LEDs as the technology evolves. This growth is expected to continue in the next five years and new potential applications will emerge. The largest growth opportunities will come from new applications such as the UV-C integration into everyday items like into refrigerators for disinfection, which has huge potential.
The UVC LED market was valued at USD 348 million in 2020, and it is more optimistically expected to reach USD 2478 million by 2025 rather than only 1044.709 million in the year 2026 in earlier anticipation,registering a CAGR of 20.1% during the forecast period (2020-2025). UV LEDs do not contain toxic mercury and are often found in CCFL technology. They are much smaller and more durable than CCFLs and are more resistant to vibration and impact, resulting in less product breakage and reduced waste and maintenance expense as well. As a result, it creates an avenue for the new companies in the market; thus, propelling the market for this technology during the forecast period. Also, the existing players and startups are looking for viable options to capitalize on this growing trend. The startups are expected to adopt UVC LEDs compared to existing players, owing to the lack of legacy bias toward the germicidal lamps.
The UVC LED market is highly fragmented due to various players providing high competition. The major players are striving to gain a sustainable competitive advantage through their innovation, and several new players, like Osram, are making significant investments in the market. Key players are Lumileds Holding BV, LG Innotek Co. Ltd.
The highest penetration and usage of UV LEDs today is in curing applications, but other applications such as water and air disinfection are increasing their reliance on UV LEDs as the technology evolves. This growth is expected to continue in the next five years and new potential applications will emerge. The largest growth opportunities will come from new applications such as the UV-C integration into everyday items like into refrigerators for disinfection, which has huge potential.
The UVC LED market was valued at USD 348 million in 2020, and it is more optimistically expected to reach USD 2478 million by 2025 rather than only 1044.709 million in the year 2026 in earlier anticipation,registering a CAGR of 20.1% during the forecast period (2020-2025). UV LEDs do not contain toxic mercury and are often found in CCFL technology. They are much smaller and more durable than CCFLs and are more resistant to vibration and impact, resulting in less product breakage and reduced waste and maintenance expense as well. As a result, it creates an avenue for the new companies in the market; thus, propelling the market for this technology during the forecast period. Also, the existing players and startups are looking for viable options to capitalize on this growing trend. The startups are expected to adopt UVC LEDs compared to existing players, owing to the lack of legacy bias toward the germicidal lamps.
The UVC LED market is highly fragmented due to various players providing high competition. The major players are striving to gain a sustainable competitive advantage through their innovation, and several new players, like Osram, are making significant investments in the market. Key players are Lumileds Holding BV, LG Innotek Co. Ltd.
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