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Chip-on-Board (COB) LED Market: 14.66% Y-O-Y Growth Rate in 2022 | By Application, Geography, and Forecast

The Chip-on-Board (COB) LED Market Share is expected to increase by USD 1.89 billion from 2021 to 2026, according to the recent market study by Technavio.

Segmentation by Application (In-Scope/Out-of-Scope)

In-Scope

The chip-on-board (COB) LED market share growth by the general lighting segment will be significant during the forecast period. The use of COB LEDs in street lighting and flood lighting is one of the factors driving the growth of the market. COB LED street and flood lighting solutions offer several advantages, including higher light intensity, smaller size, better temperature management, longer product life cycle, and lower price, compared with conventional street/flood lighting solutions such as CFLs and sodium lamps. With the increase in investments in smart city projects across the globe, the adoption of efficient lighting solutions for indoor and outdoor lighting applications is rising. Smart city projects focus on the efficient utilization of resources. COB LEDs are increasingly being used for smart city projects as they are energy-efficient and help in reducing carbon emissions and maintenance costs.

General lighting

Out-of-Scope

  • Automotive lighting
  • Backlighting

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Moreover, the report also provides Value Chain Analysis which helps companies gain a competitive advantage in the market. The Value Chain of the Chip-on-Board (COB) LED Market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation
Highlights : –
  • Segmentation : – The report extensively covers market segmentation by Application (general lighting, automotive lighting, and backlighting) and Geography (APAC, Europe, North America, South America, and Middle East and Africa)
  • Key Companies : – ams AG, Boston Electronics Corp., Bridgelux Inc., Citizen Watch Co. Ltd., Hongli Zhihui Group Co Ltd, Everlight Electronics Co. Ltd., Excelitas Technologies Corp., Lextar Electronics Corp., LG Innotek, Lumens Co. Ltd., Luminus Inc., Mouser Electronics Inc., Neumuller Elektronik GmbH, Nichia Corp., PerkinElmer Inc., Power Palazzo Pvt Ltd., Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., SMART Global Holdings Inc., and Silicon Lightworks LLC among others.
  • Driver : – Technological innovations to drive the market.
  • Challenge : – Development of CSP LEDs to hamper the market growth.

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Vendor Insights : –

The chip-on-board (COB) LED market is fragmented and the vendors are deploying growth strategies such as increasing the product or service extensions, M and A, and innovations in technology to compete in the market.

  • Bridgelux Inc.  : – The company offers chip-on-board LED for a wide range of applications such as general lighting, signage, and automotive.

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Learn More about Key Driver & Challenge of the Market : –

1. Chip-on-Board (COB) LED Market Driver : –

  • Technological innovations : –

Manufacturers of COB LEDs have been increasingly focusing on improving the quality and intensity of light generated by COB LEDs. They are increasingly incorporating new technologies to provide enhanced COB LED lighting products. This includes the adoption of tunable lighting in COB LEDs. Tunable lighting enables users to adjust the color temperature of LED lights. LED lighting can be changed/dimmed to provide warm light or cool light. The adoption of lighting solutions based on tunable lighting is gaining traction in commercial and residential establishments, including commercial spaces such as retail stores, hotels, office spaces, and hospitals, as well as residential places such as homes and apartment lobbies. An increasing number of vendors are focusing on launching COB LEDs with tunable lighting features. The increasing innovations in COB LEDs will likely drive their adoption during the forecast period.

2. Development of CSP LEDs:

 

  • Development of CSP LEDs : –

The CSP LED technology has been studied extensively as it allows a reduction in the LED chip size due to the elimination of the packaging step. This makes the overall cost of production low. Its small factor has made it a major choice to be integrated into smartphones and TV displays to reduce the overall size of the device. Owing to the absence of wired connections, the direct contact with electrodes, and the enhanced heat dissipation ability, CSP LEDs can withstand a higher value of current for the same temperature compared with COB LEDs. This reduces the packaging requirements of CSP LEDs, further reducing manufacturing costs. CSP LEDs are gaining momentum in the global LED market, mainly because of features such as the increased power density at a smaller surface and the optimal use of LED dyes. As a result, several vendors in the market are introducing CSP LED products.

Find additional information about various other market Drivers & Challenges mentioned in our FREE sample report.

 

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Chip-on-Board (COB) LED Market Scope
Report Coverage Details
Page number 120
Base year 2021
Forecast period 2022-2026
Growth momentum & CAGR Decelerate at a CAGR of 11.4%
Market growth 2022-2026 $ 1.89 billion
Market structure Fragmented
YoY growth (%) 14.66
Regional analysis APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution APAC at 49%
Key consumer countries US, China, South Korea, Japan, and Germany
Competitive landscape Leading companies, competitive strategies, consumer engagement scope
Companies profiled ams AG, Boston Electronics Corp., Bridgelux Inc., Citizen Watch Co. Ltd., Hongli Zhihui Group Co Ltd, Everlight Electronics Co. Ltd., Excelitas Technologies Corp., Lextar Electronics Corp., LG Innotek, Lumens Co. Ltd., Luminus Inc., Mouser Electronics Inc., Neumuller Elektronik GmbH, Nichia Corp., PerkinElmer Inc., Power Palazzo Pvt Ltd., Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., SMART Global Holdings Inc. , and Silicon Lightworks LLC
Market Dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization preview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.