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Chip on Board Light Emitting Diode Market Witness Excellent Revenue Growth by 2020




The global?chip-on-board LED market?size is expected to reach USD 9,179.7 million by 2020, according to a new study by Grand View Research, Inc.?Increasing urbanization and infrastructure spending are expected to be the key drivers for market growth over the forecast period. Chip on Board (CoB) LEDs are energy efficient, have greater reliability and require less space. Furthermore, they offer high intensity and homogenous luminosity, which makes them suitable for high power applications. In recent times, the use of solid lighting technology as against traditional lighting has significantly led to increased adoption of COB light emitting diode (LED).

High demand for CoB LED owing to increased adoption by several lighting application segments to gain benefit over technologies such as CFL and incandescent lighting is also expected to positively impact the global CoB light emitting diode market over the next six years.

Furthermore, advancements in design and cost saving through economies of scale are expected to provide significant growth opportunity for the market over the forecast period. However, the complex manufacturing process and high price coupled with fluctuating global economic conditions may be a challenge for industry participants.

Access Research Report of Chip on Board Light Emitting Diode Market@?http://www.grandviewresearch.com/industry-analysis/chip-on-board-light

Further key findings from the study suggest:

The illumination segment dominated the chip-on-board LED market and is expected to be the largest and fastest growing application over the next six years. This segment accounted for over 45% of the market in 2013, mainly because of COB LEDs? wide area light emitting property. Backlighting application segment is expected to grow substantially due to the rise in the number of applications in handheld devices, monitors and LED televisions.

Asia Pacific accounted for over 50% of the global CoB LED market revenue in 2013, and is expected to dominate demand over the forecast period. Further, it is expected to exhibit the fastest growth from 2014 to 2020, owing to government initiatives favoring COB LED adoption and large number of market participants.

Companies operating in the chip on board light emitting diode market include Philips LumiLEDs Lighting Company, Cree Inc., Samsung Electronics Co. Ltd., Citizen Electronics Co. Ltd., Osram Opto Semiconductors GmbH, Everlight Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Nichia Corporation, Lumens Co. Ltd, LG Innotek Co. Ltd, etc. The market is consolidated in nature, and development of efficient and cost effective products is expected to serve as a key growth strategy over the forecast period.

Grand View Research has segmented the global chip-on-board LED market on the basis of application and region:

Chip-on-Board LED Application Outlook (Revenue, USD Million, 2012 – 2020)

Automotive
Backlighting
Illumination

Chip-on-Board?LED Regional Outlook (Revenue, USD Million, 2012 – 2020)

North America
Europe
Asia Pacific
RoW

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The?company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:?www.grandviewresearch.com





Posted by on 6. December 2019. Filed under Semiconductors. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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