UV LED Market revenue to reach USD 2 Bn by 2030

The global UV LED market is expected to cross USD 2 billion by 2030, according to the latest market research study by Global Market Insights Inc.

Increasing penetration of ultraviolet LED in counterfeit currency detection devices amid currency frauds will drive the industry trends. Notable advancements in the healthcare sector will provide new opportunities for market penetration. Furthermore, growing consumer preference for smart home devices will further propel product adoption.

For instance, in July 2022, the Illuminating Engineering Society partnered with International Ultraviolet Association to introduce the LM-92-22 testing standard. The method promises increased accuracy and consistency of UV LED measurements, thereby improving germicidal UV (GUV) light sources.

Harmful radiation from UV light may emerge as a major restraining factor. Countries such as China have considerably high use of UV LED light, which can damage the skin and eyes upon prolonged exposure. However, consistent research and development in the field of UV radiation and its effects will play a significant role in industry growth.