CoB LED market is anticipated to grow at a considerable CAGR of 4.1% during the forecast period. The growth of the market is attributed to factors such as the increasing demand for energy-efficient lighting solutions and advancements in lighting technology. Further, the automotive sector’s adoption of CoB LEDs for various applications is expected to fuel the demand for CoB LEDs. According to International Energy Agency (IEA), compared to incandescent, LED lamps offer 80-90% energy savings. Compared to fluorescent, they achieve 50-60% savings. Chip-on-board LEDs lumens per watt (lm/W) offer efficacies over 150 lm/W – double the efficacy of the fluorescent technology – with high color rendering and stability. Thus, the growth of the market is attributed to factors such as increasing demand for energy-efficient lighting solutions and advancements in lighting technology. Further, the growth of the automotive sector coupled with the adoption of CoB LEDs for various applications in the automotive segment, such as headlights, interior lighting, and displays is anticipated to propel the growth of the market.
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The global CoB LED market is segmented based on material and application. Based on material, the market is bifurcated into MCPCB and ceramics. Based on application, the market is sub-segmented into general lighting, backlighting, automotive lighting, and others (illumination). Among the material, the others sub-segment including Illumination is anticipated to hold a prominent share of the global CoB LED market. The growth is attributed to the growing demand for energy-efficient and long-lasting lighting solutions in residential, commercial, and industrial sectors.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Chip-on-board (CoB) LED Market by Material
- Metal Core Printed Circuit Board (MCPCB)
- Ceramic
Global Chip-on-board (CoB) LED Market by Application
- General Lighting
- Backlighting
- Automotive Lighting
- Others (Illumination)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- 3DZ S.P.A.
- Bridgelux, Inc.
- Citizen Electronics Co., Ltd.
- Cooper Lighting, LLC
- EVERLIGHT ELECTRONICS CO., LTD.
- LEISO Lighting (Dongugan) Tech Co.,Ltd
- Lextar Electronics Corp.
- LG Innotek Co., Ltd.
- Luminus, Inc.
- Lumishore
- NEO-NEON HOLDINGS LTD.
- NICHIA CORP.
- PerkinElmer U.S. LLC
- ProPhotonix Ltd.
- Savant Systems, Inc.
- Seoul Semiconductor Co., Ltd.
- Sharp Group
- Tridonic GmbH & Co KG
- Wolfspeed, Inc.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global chip-on-board (CoB) Light Emitting Diode (LED) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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