Press release
Chip On Board (COB) LED Market Forecast: Anticipating Size, Share, and Growth Trends for the Next Ten Years
Chip On Board (COB) LED Market
Chip On Board (COB) LED Market Size was valued at USD 1.9 Billion in 2022. The Chip On Board (COB) LED Market industry is projected to grow from USD 2.2 Billion in 2023 to USD 8.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.10% during the forecast period (2023 - 2032). The growing emphasis of governments throughout the world on promoting energy-efficient lighting and lowering power requirements are the key market drivers enhancing the market growth.
In the ever-evolving landscape of lighting technology, Chip On Board (COB) LEDs have emerged as a revolutionary solution, offering enhanced brightness, efficiency, and versatility compared to traditional lighting sources. The COB LED market is experiencing rapid growth, driven by the demand for energy-efficient lighting solutions, advancements in semiconductor technology, and the growing emphasis on sustainability and environmental conservation.
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Key Players:
• Osram Opto Semiconductors GmbH (Germany)
• Citizen Electronics Co. Ltd. (Japan)
• Cree Inc. (US)
• Seoul Semiconductor Co. Ltd. (South Korea)
• GE Lighting (US)
• Philips Lumileds Lighting Co. (Netherlands)
• Samsung Electronics Co. Ltd. (South Korea)
• Everlight Electronics Co. Ltd. (Taiwan)
• LG Innotek Co. Ltd. (South Korea),
are the notable vendors in the Chip On Board (COB) LED market.
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Chip On Board (COB) LED Market Regional Analysis:
North America dominates the global chip on board LED market. The large presence of major technology providers, producers, and suppliers in this region drives the chip on board LED market growth. Many COB LED providers like Cree, Lumileds, and Nichia Corporation offer a wide range of products for various applications. Besides, the high adoption of COB LEDs in the automotive and horticultural lighting sectors substantiates the region's market share.
Chip On Board (COB) LED Market Segmentation:
This market is segmented into materials, applications, and regions. The material segment comprises MCPCBs and ceramics. The application segment comprises general lighting, backlighting, and automotive lighting. By region, the market comprises the Americas, Asia-Pacific, Europe, and the rest of the world.
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Chip On Board (COB) LEDs represent a significant departure from conventional LED packaging techniques. Unlike traditional LEDs, which consist of individual diodes mounted on a circuit board, COB LEDs feature multiple LED chips packaged together directly onto a substrate, such as ceramic or metal. This compact design allows for higher packing densities and improved thermal management, resulting in higher lumen output and better light uniformity.
The future of the COB LED market looks promising, with continued advancements in technology, expanding applications, and growing awareness of the benefits of LED lighting driving market growth. As industries and consumers increasingly prioritize energy efficiency, sustainability, and quality of light, COB LEDs are poised to play a pivotal role in shaping the future of lighting technology, illuminating our homes, businesses, and communities with efficiency and innovation.
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