The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, July 22, 2024 /EINPresswire.com/ -- The deep UV LED market has demonstrated remarkable growth, expanding from $1.06 billion in 2023 to $1.85 billion in 2024, reflecting a compound annual growth rate (CAGR) of 74.2%. It will grow to $17.09 billion in 2028 at a compound annual growth rate (CAGR) of 74.3%.This significant increase is driven by rising biotechnology applications, a surge in consumer electronics, heightened demand for disinfection, growing public health awareness, and expanded use in healthcare.

Rising Concern Over Water Scarcity Fuels Market Expansion
The escalating concern over water scarcity is a crucial factor propelling the growth of the deep UV LED market. Water scarcity, characterized by insufficient water resources to meet the demands of consumption, results from various issues including over-extraction, pollution, and inefficient management. Deep UV LEDs play a vital role in water purification, offering energy-efficient and compact solutions for disinfecting water and making it safe for consumption. According to UNICEF, by 2040, around 25% of children globally will live in regions facing severe water scarcity, underscoring the critical need for effective water treatment technologies.

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Deep UV LED Market Key Players and Technological Advancements
Major players in the deep UV LED market include LG Corporation, Lite-On Technology Corporation, Stanley Electronics, Nikkiso Corporation Limited, SANAN Optoelectronics, Hongli Zhihui Group, Seoul Viosys Corporation, and others. These companies are focusing on advanced technologies, such as scanning projection stereolithography (SPSL), to address challenges in the UV range. For instance, The Silanna Group Pty. Ltd. introduced two new UV-C LEDs in October 2022, featuring advanced capabilities for water and gas quality detection, as well as medical applications.

Trends Shaping the Future
The deep UV LED market is expected to witness several key trends, including ongoing innovations in semiconductor materials, miniaturization of LED devices, enhancements in LED efficiency and lifespan, advancements in semiconductor technology, and the development of high-performance thermal management solutions. These trends are set to drive further growth and technological advancements in the sector.

Deep UV LED Market Segmentation
• By Type: P-type Gallium Nitride (PGaN), Aluminum Gallium Nitride (AlGaN), Other Types
• By Distribution Channel: Direct, Indirect
• By Applications: Sterilization, Purification, Water Treatment, Light Source, Other Applications

Geographical Insights: Asia-Pacific Leading the Charge
Asia-Pacific was the largest region in the deep UV LED market in 2023 and is expected to maintain its lead due to the region's rapid industrialization and technological advancements. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Deep UV LED Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Deep UV LED Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on deep UV LED market size, deep UV LED market drivers and trends, deep UV LED market major players, competitors' revenues, market positioning, and market growth across geographies. The deep UV LED market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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