Global UV LED market will reach 1 billion US dollars in 2023

The UVB and UVC portions of the UV spectrum are more difficult to develop in terms of performance. Therefore, UVB and UVC LEDs require more expensive and time consuming development, leading to new UVB and UVC LED manufacturers facing a much higher threshold. For this reason, the UVB/UVC market is developing much more slowly. According to relevant survey data, the ratio of global LED market revenue to total UV lamp market revenue in 2008 was only 8%. Ten years later, today, in 2018, the ratio is expected to reach 2%, even more than three times that of a decade ago. In 2008, UV LEDs were considered an emerging technology that is infiltrating into applications such as counterfeit testing and UV curing. At that time, the LED industry was mainly focused on visible light LEDs for display applications, and the rise of general illumination was expected. During this period, the number of UV LED manufacturers also increased from 10 in 2008 to 65 in 2018. According to Pierrick Boulay, technical and market analyst at Yole Development, a French market research and strategy consultancy, the number of UV LED companies has grown from 10 to 65 in a decade. Since 2010, several visible light LED companies have turned to UV LEDs to seek new growth drivers and higher profits. Due to the expansion of the company and the entry of more companies, the UVA part of the UV spectrum is the first market segment to significantly reduce prices. The dramatic reduction in the price of UVA LEDs further accelerates the adoption of this technology. However, Yole pointed out that after the double-digit growth trend in the UV curing application market (80% of the UV LED market) continued for several years, the overall market revenue began to decline, as competitors in the highly competitive market have sharply cut prices. Only companies that can innovate in UVA LED and UV curing are expected to continue to make money. The UVB and UVC portions of the UV spectrum are more difficult to develop in terms of performance. Therefore, UVB and UVC LEDs require more expensive and time consuming development, leading to new UVB and UVC LED manufacturers facing a much higher threshold. For this reason, the UVB/UVC market is developing much more slowly. As the UV curing market begins to stabilize, Yole predicts that the UV LED industry will also be in a slowdown. In addition, the expected delay in the UV sterilizer market is expected. Yole business unit manager Pars Mukish said: We expect the UV LED market to increase from $160 million in 2017 to $320 million by 2020. The market will then be driven by UVC applications and will grow to $1 billion by 2023. Yole pointed out that a large part of the visible light LED industry has turned to UV LEDs. UV LED manufacturers' strategies vary depending on the wavelength of their target product. While some manufacturers continue to focus on device manufacturing, other vendors are beginning to integrate vertically with module and system production. In addition to UV LED manufacturers, some new entrants (mainly at the module and system level) are also trying to enter the industry. Yole pointed out that in the pursuit of the UV lighting market, the only indifferent is the traditional UVC system suppliers, they take a wait-and-see attitude.