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The chip-on-board (COB) LED market share is expected to increase by USD 1.89 billion from 2021 to 2026, at a CAGR of 11.4%.
This chip-on-board (COB) LED market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers chip-on-board (COB) LED market segmentation by application (general lighting, automotive lighting, and backlighting) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The chip-on-board (COB) LED market report also offers information on several market vendors, including ams AG, Boston Electronics Corp., Bridgelux Inc., Citizen Watch Co. Ltd., Hongli Zhihui Group Co Ltd, Everlight Electronics Co. Ltd., Excelitas Technologies Corp., Lextar Electronics Corp., LG Innotek, Lumens Co. Ltd., Luminus Inc., Mouser Electronics Inc., Neumuller Elektronik GmbH, Nichia Corp., PerkinElmer Inc., Power Palazzo Pvt Ltd., Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., SMART Global Holdings Inc., and Silicon Lightworks LLC among others.
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The technological innovations in COB LEDs is notably driving the chip-on-board (COB) LED market growth, although factors such as the development of CSP LEDs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the chip-on-board (COB) LED industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Chip-on-Board (COB) LED Market Driver
One of the key factors driving growth in the chip-on-board (COB) LED market is the technological innovations in COB LEDs. Manufacturers of COB LEDs have been increasingly focusing on improving the quality and intensity of light generated by COB LEDs. They are increasingly incorporating new technologies to provide enhanced COB LED lighting products. This includes the adoption of tunable lighting in COB LEDs. Tunable lighting enables users to adjust the color temperature of LED lights. LED lighting can be changed/dimmed to provide warm light or cool light. The adoption of lighting solutions based on tunable lighting is gaining traction in commercial and residential establishments, including commercial spaces such as retail stores, hotels, office spaces, and hospitals, as well as residential places such as homes and apartment lobbies. An increasing number of vendors are focusing on launching COB LEDs with tunable lighting features. The increasing innovations in COB LEDs will likely drive their adoption during the forecast period.
Key Chip-on-Board (COB) LED Market Trend
The adoption of COB LEDs in horticulture is another factor supporting the chip-on-board (COB) LED market share growth. Horticulture refers to the art, science, and technology of producing and marketing food crops and non-food crops. This includes the cultivation of fruits, vegetables, medicinal plants, grasses, and ornamental trees and plants. These can be cultivated under CFL, LED, and high-pressure sodium (HPS) lighting and other similar lighting options, which act as a supplement to sunlight. The plants cultivated require adequate sunlight to grow, which is compensated with the help of LED lighting in the case of the absence of natural sunlight. Among various LEDs used for horticulture, COB LEDs are being increasingly preferred to other LED lighting technologies, owing to their design and technical advantages. COB LEDs help lighting manufacturers design luminaires with customizable light spectrums as per the different classes of crops. The advantages of COB LEDs in horticulture are driving innovation in the market.
Key Chip-on-Board (COB) LED Market Challenge
The development of CSP LEDs will be a major challenge for the chip-on-board (COB) LED market during the forecast period. The CSP LED technology has been studied extensively as it allows a reduction in the LED chip size due to the elimination of the packaging step. This makes the overall cost of production low. Its small factor has made it a major choice to be integrated into smartphones and TV displays to reduce the overall size of the device. Owing to the absence of wired connections, the direct contact with electrodes, and the enhanced heat dissipation ability, CSP LEDs can withstand a higher value of current for the same temperature compared with COB LEDs. This reduces the packaging requirements of CSP LEDs, further reducing manufacturing costs. CSP LEDs are gaining momentum in the global LED market, mainly because of features such as the increased power density at a smaller surface and the optimal use of LED dyes. As a result, several vendors in the market are introducing CSP LED products.
This chip-on-board (COB) LED market analysis report also provides detaiLED information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global chip-on-board (COB) LED market as a part of the global semiconductors market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the chip-on-board (COB) LED market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the chip-on-board (COB) LED market encompasses successful business strategies deployed by the key vendors. The chip-on-board (COB) LED market is fragmented and the vendors are deploying growth strategies such as increasing the product or service extensions, M and A, and innovations in technology to compete in the market.
Bridgelux Inc. - The company offers chip-on-board LED for a wide range of applications such as general lighting, signage, and automotive.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The chip-on-board (COB) LED market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the chip-on-board (COB) LED market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the semiconductors market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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49% of the market's growth will originate from APAC during the forecast period. China, South Korea, and Japan are the key markets for chip-on-board (COB) LEDs in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing demand for LEDs in the commercial, residential, and industrial sectors due to rapid urbanization will facilitate the chip-on-board (COB) LED market growth in APAC over the forecast period. This market research report entails detaiLED information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic led to the imposition of lockdowns in many countries. The lockdowns led to the temporary closure of the production units of LEDs, which negatively impacted the sales of COB LEDs in the region in 2020. However, the market is expected to recover during the forecast period as vaccination drives are increasing in the region, resulting in the resumption of industrial activities. Hence, the regional COB LED market is expected to witness growth during the forecast period.
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The chip-on-board (COB) LED market share growth by the general lighting segment will be significant during the forecast period. The use of COB LEDs in street lighting and flood lighting is one of the factors driving the growth of the market. COB LED street and flood lighting solutions offer several advantages, including higher light intensity, smaller size, better temperature management, longer product life cycle, and lower price, compared with conventional street/flood lighting solutions such as CFLs and sodium lamps. With the increase in investments in smart city projects across the globe, the adoption of efficient lighting solutions for indoor and outdoor lighting applications is rising. Smart city projects focus on the efficient utilization of resources. COB LEDs are increasingly being used for smart city projects as they are energy-efficient and help in reducing carbon emissions and maintenance costs.
This report provides an accurate prediction of the contribution of all the segments to the growth of the chip-on-board (COB) LED market size and actionable market insights on post COVID-19 impact on each segment.
Chip-on-Board (COB) LED Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 11.4% |
Market growth 2022-2026 |
$ 1.89 billion |
Market structure |
Fragmented |
YoY growth (%) |
14.66 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 49% |
Key consumer countries |
US, China, South Korea, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiLED |
ams AG, Boston Electronics Corp., Bridgelux Inc., Citizen Watch Co. Ltd., Hongli Zhihui Group Co Ltd, Everlight Electronics Co. Ltd., Excelitas Technologies Corp., Lextar Electronics Corp., LG Innotek, Lumens Co. Ltd., Luminus Inc., Mouser Electronics Inc., Neumuller Elektronik GmbH, Nichia Corp., PerkinElmer Inc., Power Palazzo Pvt Ltd., Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., SMART Global Holdings Inc. , and Silicon Lightworks LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
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