New York, NY, Jan. 02, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Chip Scale Package (CSP) LED Market by Power Range (Low to Medium and High), by Application (Backlighting Unit (BLU), General Lighting, Automotive, Flash Lighting, and Others), and by End-User (Residential, Commercial, and Industrial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024’’. According to the report, the global chip scale package (CSP) LED market was valued at around USD 620 million in 2017 and is expected to reach approximately USD 2,010 million by 2024, at a CAGR of slightly above 18.3% between 2018 and 2024.

CSP stands for chip scale package. The CSP technology not only reduces thermal dissipation but also facilitates size and cost reductions. The most crucial challenge faced by LED manufacturers is reducing power loss that occurs in form of heat. Numerous LED manufacturers are opting for CSP technology, which facilitates size reduction by directly attaching the LED on the PCB board. Thus, smaller, thinner, and lighter LEDs are trending worldwide.

Browse through 69 Tables & 26 Figures spread over 151 Pages and in-depth TOC on “Global Chip Scale Package (CSP) LED Market: Industry Type, Size, Share, Trends and Forecast 2017—2024”.

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Currently, to enhance the efficiency and efficacy, the CSP technology is implied in diversified applications including automotive lighting, flash LED, general lighting, and backlight LED. The CSP technology is used in flashlight applications for smartphone cameras, which, in turn, is likely to drive the chip scale package (CSP) LED market in the years ahead. According to Gartner, there were around 366.59 million smartphone users in the year 2017. By 2021, 40% of the global population is anticipated to own a smartphone. However, the limited availability and underdeveloped technology might hamper the chip scale package (CSP) LED market growth in the future. Manufacturers are opting for GaN on Si LED die which not only improves CSP LED’ thermal performance but also enhances the overall product reliability. Furthermore, the increased adoption of CSP LEDs for general lighting applications is anticipated to create lucrative opportunities for the market players.

The chip scale package (CSP) LED market is categorized based on power range, application, and end-user. By power range, the market is bifurcated into low to medium and high. Globally, the automotive lighting sector is opting for high powered CSP LEDs, which is anticipated to drive the high powered CSP LED segment in the future. CSP LEDs are diversely implied in numerous applications majorly segmented into Backlighting Unit (BLU), general lighting, automotive, flash lighting, and others. Flash lighting segment holds the significant market share as CSP LEDs are immensely preferred by Smartphone manufacturers worldwide. The end-user segment includes residential, commercial, and industrial. The commercial segment is likely to hold the largest market share in the upcoming years, due to increased product demand, especially in the general lighting and flash lighting domains.

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By geography, the chip scale package (CSP) LED market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is projected to hold a substantial market share owing to the increased demand for CSP LEDs for general lighting applications, as these LEDs help in reduction of overall luminaire cost. The presence of developed economies, such as the U.S. and Canada, is likely to contribute in market revenue generation. Rising demand for general lighting in urban areas is anticipated to further drive the market in the upcoming years. The general lighting market is anticipated to account nearly USD 2.7 billion by 2022 in North America.

In 2017, the Asia Pacific region is projected to significantly lead the chip scale package (CSP) LED market in the estimated timeframe. This can be attributed to the presence of major manufacturers across the region, especially in Taiwan, China, Japan, and South Korea. These countries are operational bases for numerous prominent manufacturers of CSP LEDs, such as Seoul Semiconductor, Nichia Corporation, LG Innotek, Samsung Electronics, etc.

Browse the full “Chip Scale Package (CSP) LED Market by Power Range (Low to Medium and High), by Application (Backlighting Unit (BLU), General Lighting, Automotive, Flash Lighting, and Others), and by End-User (Residential, Commercial, and Industrial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024 ” Report at https://www.zionmarketresearch.com/report/chip-scale-package-led-market

The rising demand for CSP LEDs in the automotive sector is primarily responsible for driving the European chip scale package (CSP) LED market. Many European manufacturers are producing CSP LEDs in bulk, which are specialized for interior automotive lighting. Prominent market players have initiated various research and development activities related to automotive LED components. In 2015, more than 45 million units of passenger cars were registered in Germany.

In the Latin American region, a notable rate of growth is expected over the estimated timeframe due to flourishing sales of TVs. Television manufacturers are increasingly adopting CSP LEDs, as they are compact backlighting source with high energy efficiency. In 2013, more than 147.95 million households had television sets in the Latin American region.

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In the Middle East and Africa, the regional market is mainly driven due to the growing number of smartphones. CSP LEDs are rapidly being adopted by smartphone manufacturers for flashlight applications. By 2014, the region had more than 85.7 million smartphone users.

Some key players of the chip scale package (CSP) LED market are Samsung, Lumileds, Seoul Semiconductor, Nichia, Cree, Genesis Photonics, LG Innotek, Lumens, and OSRAM, among others.

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This report segments the chip scale package (CSP) LED market into:

Chip Scale Package (CSP) LED Market: Power Range Analysis

  • Low to Medium
  • High

Chip Scale Package (CSP) LED MarketApplication Analysis

  • Backlighting Unit (BLU)
  • General Lighting
  • Automotive
  • Flash Lighting
  • Others

Chip Scale Package (CSP) LED Market: End-User Analysis

  • Residential
  • Commercial
  • Industrial

Chip Scale Package (CSP) LED MarketRegional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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