Global UV LED Market to Achieve Significant Growth Through 2016

In accordance with the forecast of Market Research Reports, the Global UV LED market will grow at a CAGR (compound average growth rate) of 44.3% during the period 2012-2016. The company also suggests that 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, Market Research Reports pointed out that issues relating to the commercialization of UV LEDs could pose a challenge to the growth of this market. The company notes that the key vendors in this market include Nichia Corp., Phoseon Technology, SemiLEDs Corp., and Sensor Electronic Technology Inc., Luminus Devices Inc., and Seoul Opto Device Co. Ltd.

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