According to a report by Grand View Research, Inc., global chip on board (COB) light emitting diode (LED) market is anticipated to value USD 9,179.7 million by 2020. Growing requirement for energy efficient and high quality lighting technology among consumers is anticipated to propel demand for COB LEDs over the forecast period (2012 to 2020). Uncoated semiconductor elements are mounted on PCB or substrate using non-conductive or conductive adhesive to make COB LEDs. The elements mounted are then connected to each other using wires to provide electrical connectivity. This advanced LED packaging is expected to offer improved light distribution capacity and better flexibility. In addition, the design is likely to be compact and estimated to deliver improved thermal management.
Growing urbanization and increasing investment for infrastructural development are expected to spur growth of market. Shifting preference for solid state lighting technology over conventional lighting can propel market growth. COB LEDs are expected to offer superior lighting effect and color mixing. This, in turn, can fuel their demand among consumers and propel growth of market in the forthcoming years. Properties like homogeneous luminosity and high intensity are likely to make COB LEDs suitable for high power applications. Rising adoption of COB LEDs for general lighting purposes owing to effective heat dissipation properties and less consumption of power can foster growth of market. Advantages over other technologies such as compact fluorescent lamp (CFL) and incandescent lighting are likely to drive market expansion. In addition, continual technological advancements in LEDs and efforts to reduce overall costing can also impel market growth. Moreover, supportive government initiatives and rising investments in development of infrastructure can further stimulate market expansion over the forecast period.
Full Research Report On Chip on Board (COB) Light Emitting Diode (LED) Market Analysis: www.grandviewresearch.com/industry-analysis/chip-on-board-light
Complex manufacturing process and high production cost are estimated to hamper market growth during the forecast period. In addition, frequently changing global economic conditions can also obstruct growth of market in the forthcoming years. However, improvement in LED’s design and cost reduction by manufacturing companies can create lucrative opportunities in the market.
The chip on board light emitting diode market can be segregated on the basis of application and region. Based on application, the market can be categorized into backlighting, illumination, and automotive. In 2013, illumination segment dominated the market and accounted for 45% market share. It is anticipated to witness fast growth during the forecast period. Ability of COB LEDs to cover wide area can propel their demand for illumination purposes.
Automotive sector is estimated to witness growth owing to increasing use of COB LEDs in interior and exterior lighting applications. Exterior lighting applications can include head lamps, rear lamps, side lamps, and day time running lights.
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Regional segmentation includes Europe, North America, Asia Pacific, and Rest of the World (ROW). In 2013, Asia Pacific region dominated the market and accounted for 50% market share in terms of revenue. The region is anticipated to hold highest market share in terms of usage and manufacturing over the forecast period. China, Japan, and Taiwan are expected to be major contributors to market growth owing to supportive government initiatives towards adoption of COB LED. In addition, increasing number of market players can also augment regional growth.
North America is projected to witness significant market growth during the forecast period attributed to increasing use of advanced lighting technology.
In Europe, the market is estimated to grow well over the forecast period owing to support from local governments and growing adoption of ultra-modern lighting. However, economic crisis had adversely impacted market growth in past years attributed to high initial investments.
Some of the leading companies operating in the market for chip on board light emitting diode are Samsung Electronics Co. Ltd., Philips LumiLEDs Lighting Company, LG Innotek Co. Ltd., Citizen Electronics Co. Ltd., and Osram Opto Semiconductors GmbH. The market is predicted to have consolidated nature. Hence, most companies are likely to adopt business strategies like mergers and acquisitions to maintain their market value. In addition, companies are develop efficient and cost-effective products to gain competitive edge over others.
Grand View Research has segmented the global Chip on Board (COB) Light Emitting Diode (LED) market on the basis of application and region:
COB LED Application Outlook (Revenue, USD Million, 2012 – 2020)
COB LED Regional Outlook (Revenue, USD Million, 2012 – 2020)
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