Chip-on-board LED Market Industry Demand, Fastest Growth, Opportunities Analysis and Forecast To 2030

Chip-on-board LED Market size was US$ 4.75 Bn in 2022 and is expected to reach US$ 15.03 Bn by 2029, at a CAGR of 17.88% during the forecast period.

Chip-on-board LED Market Overview:

Extensive Chip-on-board LED Market analysis is carried out by attentively monitoring important product positioning and the market framework’s top competitors. Key competitors are profiled and their tactics are extensively examined to grasp the competitive perspective of the global Chip-on-board LED market.

Market Scope:

This research on the Chip-on-board LED industry is based on a thorough examination of the market, supported by secondary and primary sources. Market volume is determined by a country-by-country model mapping of Chip-on-board LED utilizing internal and external private information, as well as relevant patent and regulatory sources.

Chip-on-board LED Market Dynamics: 

A strong, lightweight, and recyclable material is Chip-on-board LED. Additionally, it is used to make materials for food packaging as well as consumer items like CD and DVD cases. It is a low-cost, high-strength plastic that may be recycled into materials for home building, used to insulate structures, and be made into sterile disposable cutlery. The market is anticipated to grow over the course of the projected period as a result of the expanding product application scope across various end-use sectors.

The market is being driven by the expanding end markets for Chip-on-board LED, which include the electronics and construction sectors. The expansion of the Chip-on-board LED market is being driven by the rising usage of expanded Chip-on-board LED in building and insulation. The Chip-on-board LED industry will benefit from the rising construction market.

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Chip-on-board LED Market Segmentation:

The Chip-on-board LED Market is divided into General Purpose Chip-on-board LED, High Impact Chip-on-board LED, and Expandable Chip-on-board LED based on the type of resin used. With a sales share of about 34.2% in 2022, the High Impact Chip-on-board LED sector has become the dominating resin type category. High Impact Chip-on-board LED, which is exceptionally durable and resistant to cracking, is used in the molding process. Painting and gluing are simple and inexpensive. It is used to make housing and covers, weak structural elements, printed graphics, models and prototypes, fittings, and other things. Other grades include those with ignition resistance, high gloss, and environment stress crack resistance. The market expansion for Chip-on-board LED in this niche is driven by these significant advantages.

by Material

MCPCB
Ceramic

by Application

General Lighting
Backlighting
Automotive Lighting

The global COB LED market is divided into three segments based on application: automotive lighting, backlighting, and general lighting. The global market is expanding due to the increasing use of COB LEDs for indoor and outdoor lighting applications in residential, commercial, and industrial settings. For exterior big area illumination applications including street lighting, parking lighting, and others, COB LEDs are frequently employed. The global industrial modernization and increasing development of infrastructure, the introduction of Wi-Fi control based lighting solutions for a variety of residential, commercial, and industrial applications, and the growing demand for IoT-based smart lighting technologies are all driving the market’s growth. Additionally, LED lighting technology is gradually replacing incandescent and fluorescent lighting technology.

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Key Players:

A team of research professionals updates and amends our data regularly to reflect the most recent trends and facts. To fulfill the needs of both individual and corporate clients, we have substantial competence in research and consulting for a wide range of business disciplines. Our knowledgeable staff uses proprietary data sources as well as a range of additional approaches. The key players in the Chip-on-board LED business are..

1. Osram Opto Semiconductors GmbH
2. Citizen Electronics Co. Ltd
3. Cree Inc
4. Seoul Semiconductor Co. Ltd
5. GE Lighting
6. Samsung Electronics Co. Ltd
7. Everlight Electronics Co. Ltd
8. LG Innotek Co. Ltd
9. Prophotonix
10.Mouser Electronics

Regional Analysis:

The study presents regional competitive circumstances. These insights help market participants improve their approaches and provide new opportunities to achieve amazing results.

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COVID-19 Impact Analysis on Chip-on-board LED Market:

The spread of the COVID-19 pandemic has had a wide-ranging influence on people’s lives all around the world. Markets have been forced to adopt new norms, trends, and tactics as a result. Essentially, the study report tries to paint a picture of the market’s initial and future projections.

Key Questions Answered in the Chip-on-board LED Market Report are:

• What will be the CAGR of the Chip-on-board LED market during the forecast period?
• Which segment emerged as the leading segment in the Chip-on-board LED market?
• Which are the prominent players in the Chip-on-board LED market?
• What will be the Chip-on-board LED market size by 2027?
• Which company held the largest share in the Chip-on-board LED market?

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