Chip-on-Board (COB) LED Market: 14.66% YOY Growth Rate in 2022 | By Application (general lighting, automotive lighting, and backlighting), Geography, and Forecast – PR Newswire
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.
- Automotive lighting
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Moreover, the report also provides Value Chain Analysis which helps companies gain a competitive advantage in the market. The Value Chain of the Chip-on-Board (COB) LED Market includes the following core components:
- Inbound logistics
- Outbound logistics
- Marketing and sales
- Support activities
- Segmentation- The report extensively covers market segmentation by Application (general lighting, automotive lighting, and backlighting) and Geography (APAC, Europe, North America, South America, and Middle East and Africa)
- Key Companies- 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
- Driver- Technological innovations to drive the market.
- Challenge– Development of CSP LEDs to hamper the market growth
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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.
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Learn More about Key Driver & Challenge of the Market-
- Chip-on-Board (COB) LED Market Driver:
- Technological innovations:
Manufacturers of COB LEDs have been …….