New York, US, Sept. 05, 2022 (GLOBE NEWSWIRE) -- According to the analysis reports by MRFR, “Chip-on-board LED Market”, by Automotive Lighting, Material, Backlighting, Application, and Region- Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 5.2 billion, at a robust CAGR of 18.10% the assessment timeframe 2022 – 2030.
Chip-on-board LED Market Scope:
The chip on board LED refers to LED packaging where many LED packaging chips are wrapped up straight along with the substrate, causing the module's formation. Led chips in small size raise the packaging density in prison with the utilization of other tech, including surface mounting, which causes massive lightning intensity. Furthermore, the chip on board lightning devices is broadly utilized for spot lightning alongside directional lighting. These come under the overall lightning segment, which inhabits a predominant position. The technology is considered to be the latest one packaging multi-LED into one lighting module.
Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 5.2 billion |
| CAGR From 2022 to 2030 | 18.10% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
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Chip diodes of these LEDs are connected to the PCB by the producers; production thermal conductivity moves to the circuit board causing lower heat emission. LED light source is selected over conventional lighting because of its brightness and longer life span. But regular LEDs may lead to fierce glare, which is further rectified in COB LED. the global market for chip-on LEDs has recorded massive growth in the last few years. The market's growth is mainly accredited to the increase in the use of solid-state lighting technology.
Market USP Covered
Chip-on-board LED Market Drivers
The global market for chip-on-board LEDs has registered enormous growth in the last few years. The market's growth is credited to the aspects such as the rise in focus of the government on promoting energy-efficient light technology, increase in efficiency of high light, and constant technological evolutions.
Chip-on-board LED Market Restraints
On the other hand, factors like the high initial cost of LED lights and the complexities associated with the manufacturing processes may impede the market's growth.
COVID-19 Impact
The global health crisis has had a massive impact on the majority of the industry sectors across the globe. Given the rapid spread of the disease across most regions worldwide, several governments worldwide implemented partial or complete lockdowns. The pandemic has impacted public health and several economic or industrial activities across various end-use industries. Given the travel restrictions and social distancing norms, the supply chain networks have been impacted heavily recently. Like any other industry, the global market for chip-on-board LEDs also faced several unexpected challenges. The pandemic has impacted the global population. It banned the expansion and growth of market size. The global health crisis has impeded production from the manufacturing plants. COVID infected interrupted the supply chain analysis and impacted the distribution channel. On the other hand, with the freeing up of the lockdowns worldwide, global financial activities are set to get back on track. The global market for chip-on-board LEDs is also likely to witness substantial growth over the coming years.
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Chip-on-board LED Market Segment Analysis
Among all the types, the ceramic segment is anticipated to dominate the global market for chip-on-board LEDs over the assessment timeframe. The material is known to be the most widely utilized as a substrate, where it has excellent thermal performance. The segment's growth is attributed mainly to the higher demand and preference because of the better thermal performance of this kind.
Among all the technologies, the multi-led chips module segment is anticipated to account for the largest revenue share across the global market for chip-on-board LEDs over the assessment timeframe. Technology caused the discovery of Led chip diodes being utilized destined into PCB, leading to the shifting up of thermal conductivity to the circuit onboard.
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Among all the application areas, the illumination segment is projected to account for the largest revenue share across the global market for chip-on-board LEDs over the review timeframe. The segment is projected to register a substantial CAGR during the coming years. the primary aspect causing an upsurge in the segment's growth is the increase in the number of applications in monitors, LED televisions, and handheld devices.
Chip-on-board LED Market Regional Analysis
The global market for chip-on-board LEDs is analysed across five major regions: Europe, Asia-Pacific, North America, Latin America, and the Middle East & Africa.
According to the analysis reports by MRFR, the Asia-Pacific region is anticipated to dominate the global chip-on-board LEDs over the assessment timeframe. The regional market has some of the leading manufacturers of a chip on board LEDs, such as South Korea, Taiwan, and China. On the other hand, the presence of various vendors in the region is the primary aspect causing an upsurge in the regional market's growth. Furthermore, the factors such as the presence of numerous manufacturing industries, increasing demand for high-intensity chip-on-board lights, and rapid urbanization are also projected to boost the growth of the regional market over the assessment timeframe.
The chip-on-board LEDs market for the North American region is anticipated to register a substantial CAGR over the assessment timeframe. The region has always been known to be the early adopter of innovative technologies, which is the primary aspect supporting the growth of the regional market. Furthermore, the massive production volumes of energy-efficient chip-on-board LED lights are another prime aspect anticipated to boost the regional market over the review timeframe. Moreover, the presence of leading players across the regional market is projected to catalyze the regional market's growth.
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Competitive Analysis
The list of leading players across the global market for chip-on LEDs includes companies such as:
- Citizen Electronics
- Lumishore Ltd
- Leiso Lighting Tech. Ltd
- Bridgelux Inc.
- GE Lighting
- Seoul Semiconductor Co. Ltd
- Cree Inc.
- Osram Opto Semiconductors GmbH
- Cooper Lighting
- Samsung Electronics
- Prophotonix
- Samsung Electronics Co. Ltd
- LG Innotek Co. Ltd
- Lumens Co. Ltd
- Everlight Electronics Co. Ltd
- Citizen Electronics Co. Ltd
- Seoul Semiconductors
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