Industry Background:
Chip-on-board (COB) Light Emitting Diode (LED) refers to multiple LED chips bonded into one lighting module. Chip-on-board LED market has high growth prospects owing to rising applications in the general lighting, backlighting, and automotive lighting. Further, market players are focusing on cost reduction through product innovation. In addition, it reduces the adverse effect on environmental as compare to conventional lightning which is expected to drive the demand for chip-on-board LED over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Citizen Electronics (Japan), Everlight (Taiwan), Tridonic (Austria), Prophotonix (United States), PerkinElmer (United States), Siemens AG (Germany), Cree Inc. (United States), Seoul Semiconductor (South Korea), Sharp Electronics (Japan), General Electric (United States) and Enlux Lighting (United States) |
According to AMA, the market for Chip-on-board (CoB) LED is expected to register a CAGR of 11.0% during the forecast period to 2030. This growth is primarily driven by Chip On Board LED Lessens Heat Emission As Compared To Normal LED and Government Support for Chip On Board LED as it has Low Impact On Environment Traditional Lighting.
Globally, a noticeable market trend is evident Emphasizing On Development of Energy Efficiency Power Sources
Major Manufacturers, such as Citizen Electronics (Japan), Everlight (Taiwan), Tridonic (Austria), Prophotonix (United States), PerkinElmer (United States), Siemens AG (Germany), Cree Inc. (United States), Seoul Semiconductor (South Korea), Sharp Electronics (Japan), General Electric (United States) and Enlux Lighting (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Key Developments in the Market:
In July 2023, Acuity Brands acquired TE Connectivity's LED business. This strategic move strengthens Acuity Brands' position in the commercial and industrial LED lighting market, particularly with CoB technology.
In October 2023, Seoul Semiconductor released SunLike Series 3 CoB LEDs. These new LEDs offer a high color rendering index (CRI) and improved thermal management, making them ideal for architectural and horticultural lighting applications.
Influencing Trend:
Emphasizing On Development of Energy Efficiency Power Sources and Technological Advancement in Design with Focus on Cost Savings
Market Growth Drivers:
Chip On Board LED Lessens Heat Emission As Compared To Normal LED and Government Support for Chip On Board LED as it has Low Impact On Environment Traditional Lighting
Challenges:
Maintaining Operating Temperature for Chip-On-Board LED
Restraints:
High Cost of Chip-On-Board LED and Difficult Manufacturing Process Associated With Chip-On-Board LED
Opportunities:
Increasing Demand for LED Lights Which Consumes Less Power and Rising the Demand from the Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Chip-on-board (CoB) LED Market
- Analysis about New Entrants in Chip-on-board (CoB) LED Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Chip-on-board (CoB) LED Study Sheds Light on
The Chip-on-board (CoB) LED Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Chip-on-board (CoB) LED industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Chip-on-board (CoB) LED industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.