The market for chip-on-board light emitting diodes (LEDs) is anticipated to be worth US$ 297.0 billion by 2032. In 2022, the market is anticipated to be valued $23.5 billion USD. It would grow at a 28.9% CAGR between 2022 and 2032.
The chip-on-board approach involves placing exposed silicon bits directly on a substrate or printed circuit board. Light-emitting diodes are packaged with a metallic or non-conductive adhesive. Wire bonding provides extra electrical connection. Its packaging design is more versatile and capable of light dispersal.
The fundamental advantage of chip-on-board LEDs is that they take up less space. They also consume less energy than usual. They are of great quality, have a long lifespan, are extremely reliable, and have better heat control. These LEDs produce more effective colour blending and lighting effects. They help to improve the user experience.
Because of their high intensity and uniform brightness, they are ideal for high power applications. The transition from traditional lighting to silicon lighting technologies has increased the popularity of this type of LED.
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The market for chip-on-board LEDs would increase significantly during the next ten years. Technological advancements and cost reductions will accelerate market expansion. A few significant drivers influencing growth are urbanisation, government initiatives, and increased infrastructure spending.
In terms of advantages, chip-on-board LEDs beat competing technologies such as incandescent and CFL lighting. As a result, governments in a number of countries are putting this technology into practise.
These LEDs are in high demand due to their expanding use in a variety of lighting application categories. A rapid drop in the median price of LEDs would also increase purchasing. When compared to competing technology, these LEDs are more expensive. They also necessitate a complicated manufacturing process.
Key Takeaways from Chip-on-Board Light Emitting Diode (LED) Market
- The global chip-on-board light emitting diode market exhibited a CAGR of 38.1% in the historical period.
- Asia Pacific chip-on-board light emitting diode market would reach a valuation of US$ 143.1 billion in 2032.
- The USA chip-on-board light emitting diode market would be worth US$ 46.7 billion by 2032.
- The China chip-on-board light emitting diode market would reach US$ 74.4 billion by 2032.
- Based on application, the illumination segment would exhibit a CAGR of 28.7% from 2022 to 2032.
“Several governments are replacing CFLs and incandescent bulbs with chip-on-board light-emitting diodes. The sector is expanding as a result of accelerated urbanization and rising infrastructure spending.” – Says a lead analyst.
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Competitive Landscape: Chip-on-Board Light Emitting Diode (LED) Market
Top market players are constantly thinking of new, creative ways to offer high-quality products. Their innovations and goods are being patent protected. Their product lineups need to be increased.
Reputable firms, who presently have a modest portion of the industry, are always working to increase their visibility. In the chip-on-board LED industry, they are working with regional businesses.
For instance,
- In May 2022, Excelitas Technologies introduced the upgraded Omnicure LX500 LED spot UV Curing controller and LED Heads. The redesigned LX500 Controller with V3 UV LED Heads offer a built-in calibration. It also provides an industry-leading light performance. When used as a whole, the OmniCure LX500 UV LED Spot Curing System offers physical state consistency and process improvement. It is meant for a range of manufacturing applications in the medical, electrical, and industrial domains.
Get More Exclusive Insights into Chip-on-Board Light Emitting Diode (LED) Market Study
Future Market Insights, in its new offering, presents an unbiased analysis of the chip-on-board light emitting diode (LED) market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2022 to 2032.
The study reveals extensive growth in the chip-on-board light emitting diode (LED) market in terms of application (illumination, automotive, backlighting) and region.
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Chip-On-Board Light Emitting Diode (LED) Market Outlook by Category
By Application:
- Illumination
- Residential
- Office Space
- Industrial
- Shop Area
- Hospitality Industry
- Outdoor Lighting
- Architectural
- Automotive
- Interior
- Exterior
- Backlighting
- LED Television
- Monitor
- Handheld
- Screen Display Lighting
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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