Global UV LED Technology Market to Grow at a CAGR of 38.72% During the Period 2016-2020

The adoption of UV LEDs in consumer electronics is on a rise. Compact size, lower operating costs, lower power consumption, easy disposal, ozone-free operation, and flexibility of LEDs to operate at different wavelengths is the major driving force behind this trend.

Albany, NY, August 28, 2016 --( Market Research Hub has announced the addition of the "Global UV LED Technology Market 2016-2020" report to their huge collection of market research reports.

The global UV LED technology market is expected to grow at CAGR of 38.72% during 2016-2020. These LEDs find its adoption in a wide range of applications, which are expected to evolve more in the future. UV curing equipment manufacturers were the largest consumer of UV LEDs in 2015, accounting for 90.65% market share.

Analysts forecast the global UV LED technology market to grow at a CAGR of 38.72% during the period 2016-2020.

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The report predict the global market for UV LED technology to post a revenue of more than $658 million by 2020. The increased adoption of UV LED is fueled primarily by its low cost of ownership. UV LEDs have high initial cost but have a marginally enhanced lifespan than traditional mercury lamps. Furthermore, factors such as compact size, low heat dissipation, zero warm-up time, low energy consumption, and enhanced durability, along with low maintenance expenses, provide cost savings of nearly 50% when compared to the cold cathode fluorescent lamp (CCFL) technology. During 2015, APAC accounted for almost 43% of the overall market share to become the dominant shareholder in the global market. The high use of UV curing equipment and technology in the region will contribute to the growth of the market in APAC during the forecast period.

Covered in this Report
Report covers the present scenario and the growth prospects of the global UV LED technology market for 2016-2020. To calculate the market size, the report considers the revenue generated from UV-A LEDs, UV-B LEDs, and UV-C LEDs.

The market is divided into the following segments based on geography:
North America

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Report, Global UV LED Technology Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key Vendors
Crystal IS
LG Innotek
Philips Lumileds

Other Prominent Vendors
Advanced Optoelectronic Technology
Heraeus Holding
Integration Technology
Luminus Devices
Lextar Electronics
Nitride Semiconductors
Seoul Viosys
Sensor Electronics Technology

Market Driver
Decline in manufacturing cost of UV LED packages over time
For a full, detailed list, view their report

Market Challenge
Design and integration issues in manufacturing phase
For a full, detailed list, view their report

Market Trend
Adoption of UV LEDs in consumer electronics
For a full, detailed list, view their report

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Key questions answered in this report

What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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