The global chip-on-board LED market size
is expected to reach USD 9,179.7 million by 2020, according to a new study by
Grand View Research, Inc. Increasing urbanization and infrastructure
spending are expected to be the key drivers for market growth over the forecast
period. Chip on Board (CoB) LEDs are energy efficient, have greater reliability
and require less space. Furthermore, they offer high intensity and homogenous
luminosity, which makes them suitable for high power applications. In recent
times, the use of solid lighting technology as against traditional lighting has
significantly led to increased adoption of COB light emitting diode (LED).
High demand
for CoB LED owing to increased adoption by several lighting application
segments to gain benefit over technologies such as CFL and incandescent
lighting is also expected to positively impact the global CoB light emitting
diode market over the next six years. Furthermore, advancements in design and
cost saving through economies of scale are expected to provide significant
growth opportunity for the market over the forecast period. However, the
complex manufacturing process and high price coupled with fluctuating global
economic conditions may be a challenge for industry participants.
Access
Research Report of Chip on Board Light Emitting Diode Market@ http://www.grandviewresearch.com/industry-analysis/chip-on-board-light
Further key findings from the study suggest:
· The illumination segment dominated the
chip-on-board LED market and is expected to be the largest and fastest growing
application over the next six years. This segment accounted for over 45% of the
market in 2013, mainly because of COB LEDs’ wide area light emitting property.
Backlighting application segment is expected to grow substantially due to the
rise in the number of applications in handheld devices, monitors and LED
televisions.
· Asia Pacific accounted for over 50% of the
global CoB LED market revenue in 2013, and is expected to dominate demand over
the forecast period. Further, it is expected to exhibit the fastest growth from
2014 to 2020, owing to government initiatives favoring COB LED adoption and
large number of market participants.
· Companies operating in the chip on board
light emitting diode market include Philips LumiLEDs Lighting Company, Cree
Inc., Samsung Electronics Co. Ltd., Citizen Electronics Co. Ltd., Osram Opto
Semiconductors GmbH, Everlight Electronics Co. Ltd., Seoul Semiconductor Co.
Ltd., Nichia Corporation, Lumens Co. Ltd, LG Innotek Co. Ltd, etc. The market
is consolidated in nature, and development of efficient and cost effective
products is expected to serve as a key growth strategy over the forecast
period.
Grand View
Research has segmented the global chip-on-board LED market on the basis of
application and region:
Chip-on-Board
LED Application Outlook (Revenue, USD Million, 2012 - 2020)
·
Automotive
·
Backlighting
·
Illumination
Chip-on-Board LED
Regional Outlook (Revenue, USD Million, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
