2014-01-30 04:50:04 - Global UV LED Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Ultraviolet (UV) Light Emitting Diode (LED) market is to grow at a CAGR of 44.3 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing adoption of UV LEDs. The Global UV LED market has also been witnessing the emergence of eco-friendly LEDs. However, issues relating to the commercialization of UV LEDs could pose a challenge to the growth of this market.
One of the main trends witnessed in the Global UV LED market is the rapid technological advancements. The performance and application of UV LEDs is constantly increasing with these advancements. These advancements also provide substantial cost, energy, and space saving opportunities for end-users when compared with the use of
alternate technologies. The lifespan of UV LEDs has also increased by more than 50,000 hours due to these rapid technological advancements.
One of the main factors driving the market is the increased need for security. Thefts related to the use of counterfeits products, such as counterfeit passports, fake currency notes, and fake casino coins, is rising, due to which there is a need for increased security in places such as casinos, airports, and banks.
One of the main challenges is the unsatisfactory efficiency of lower wavelength applications. In several applications, such as fingerprint identification, medical light therapy, water sterilization, and polymer curing, wavelengths used are very less.
The key vendors dominating this space include Nichia Corp., Phoseon Technology, SemiLEDs Corp., and Sensor Electronic Technology Inc.
The other vendors mentioned are Aquionics Inc., Dot Metrics technologies Inc., Luminus Devices Inc., and Seoul Opto Device Co. Ltd.
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