Chip On Board LED Market – Global Industry Analysis, Growth, Trends, Forecast 2024

Chip on board (COB) Light Emitting Diode (LED) is the latest technology of packaging multi LED into one lighting module. Chip diodes of LED are bonded into the PCB by the manufacturers, making thermal conductivity move towards the circuit board resulting in lower heat emission. LED light source is preferred over traditional lighting due to its longer life span and brightness. But normal LED may cause uncomfortable glare which is further rectified in COB LED. Furthermore chip on board LED lights provide higher intensity along with homogenous luminosity helping in the rise in demand for chip on board LED lights globally. In addition to this advancement in design through innovation along with cost savings by large scale manufacture of COB LED lights further enhances the demand for chip on board LED lights. Application wise global chip on board LED market can be segmented into automotive, illumination and backlighting among others.

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Global chip on board LED market on the basis of geography can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

Use of chip on board LED reduces heat emission as compared to normal LED lights which forms a major reason for the growth of chip on board market globally. This along with uniform luminescence and better quality of light than normal LEDs further has pushed the demand for chip on board LED lights worldwide. Other than it provides huge cost advantage helping the manufacturers in large scale module manufacturing of chip on board LEDs further acting as major drivers to help increase demand for global chip on board LED lights.  In addition to this stringent environmental norms by government worldwide has increased usage of chip on board LED lights which consumes less power and has lower environmental hazards than traditional lights helping this market to grow. Maintaining operating temperature is extremely crucial for chip on board LED lights which becomes difficult for the manufacturers and poses as a major restraint for growth of chip on board LED market globally. Other than this manufacturers use aluminium as a substrate for producing chip on board LED lights to reduce costs which declines the overall reliability of the product thereby negatively affecting the global chip on board LED market. Efficient heat dissipation along with wide area emitters make chip on board LED lights viable across different application areas like streetlights and other general lighting system providing huge opportunities for the growth of this market in future.

Geographically, Asia Pacific region holds the major market share for chip on board LED market globally. Asia pacific also forms the fastest growing market with China being the largest market contributing to this growth followed by South Korea and Taiwan. Rising government investments to promote light emitting diodes along with stringent government measures for promoting environment friendly lights are some of the major factors which have positively impacted global chip on board light emitting diode market. In addition, rising awareness among people regarding the positive effects of using chip on board LED lights. This is also fueling the growth of chip on board LED market in Asia Pacific both in terms of manufacturing as well as usage of chip on board LED lights. It is followed by North America and Europe where advanced lighting system especially for various infrastructural purposes pushed by strict government norms to use environment friendly lights is pushing demand for chip on board LED lights.

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Some of the major players operating in the global chip on board LED market includes OSRAM (Germany), Everlight Electronics (Taiwan), Nichia (Japan), Samsung (South Korea), CREE Inc.  (US), Philips Lumileds Lighting (US), Cooper Lighting (US), PerkinElmer (US), Sharp Electronics (Japan), Lextar Electronics Corporation (Taiwan) and Seoul Semiconductor (South Korea) among others which are present in the market globally.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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