(MENAFN - GetNews) UV LED MARKET BY TYPE (UV-A, UV-B, AND UV-C), MATERIAL (SILICON CARBIDE, GALLIUM NITRIDE, SAPPHIRE, AND OTHER), AND APPLICATION (CURING, PURIFICATION, INDOOR GARDENING, COUNTERFEIT DETECTION, AND OTHERS), AND INDUSTRY VERTICAL (HEALTHCARE & MEDICAL, AGRICULTURE, INDUSTRIAL, RESIDENTIAL, AND COMMERCIAL): GLOBAL OPPORTUNITY ANALYSIS AND INDUSTRY FORECAST, 2020-2027 The global UV LED market size is expected to grow at a CAGR of 21.7% and cross $1.71 billion by 2027 from $0.35 billion in 2019. The significant growth in the market is observed owing to increasing adoption of eco-friendly curing technologies across the globe. Additionally, governments of several countries are also seen promoting use of UV LED's instead of traditional CFL technology to support the power saving initiative.