Chip-On-Board LED Market 2020- Upcoming Trends, Growth Drivers, Rising Demand by Top Companies (Cree Inc., Lumens Co., Ltd., etc)
The global chip-on-board LED market is expected to attain considerable growth in the coming years. Market Research Future (MRFR) states that the market valuation will reach a projected figure of USD 5,261.8 million by the end of 2023. Additionally, the market is expected to grow during the forecast period at a massive CAGR of 17.88%.
The growing adoption of solid-state lighting technology compared to conventional traditional lighting is one of the primal factors paving the growth wave of the chip-on-board LED market. The increasing impetus placed by governments across the world for promoting the use of energy efficient lighting has prompted an increasing in demand for LED lighting. Chip-on-board LED boasts several key advantages like high light efficacy, reduced power requirements, smaller number of solder joints, and enhanced thermal management.
Market Segmentation
The global chip-on-board LED market segments into the following key dynamics: application and material.
By material, the market includes MCPCB and ceramic. Ceramic is the typically the most used material in the global landscape and is expected to be the leading segment over the forecast period. The growth of the segment is primarily due to its better thermal performance level.
By application, the market comprises backlighting, general lighting, automotive lighting, and others. Herein, the general lighting segment is broken down into commercial, residential, and industrial. Whereas, the backlighting segment is narrowed down into televisions, tablets, smartphones, monitors, and others. Lastly, under automotive lighting, the segment is divided into exterior and interior lighting.
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Competitive Landscape
The key players identified and highlighted in the global chip-on-board LED market are as follows: Cree Inc. (US), Osram Opto Semiconductors GmbH (Germany), Philips Lumileds Lighting Co. (Netherlands), Seoul Semiconductor Co. Ltd. (South Korea), Citizen Electronics Co. Ltd. (Japan), Everlight Electronics Co. Ltd. (Taiwan), Lumens Co., Ltd. (South Korea), GE Lighting (US), LG Innotek Co. Ltd. (South Korea), Samsung Electronics Co. Ltd. (South Korea), and others. These players contribute majorly to the overall growth of the market. Some of the other players that are contributing to the growth of the chip-on-board LED market are Cooper Lighting (US), Prophotonix (US), Bridgelux Inc. (US), LumiShore Ltd (UK), Leiso Lighting Tech. Ltd (China), and others.
TABLE OF CONTENTS:
1. MARKET INTRODUCTION
2. RESEARCH METHODOLOGY
3. MARKET DYNAMICS
4. EXECUTIVE SUMMARY
5. MARKET FACTOR ANALYSIS
6. QUANTUM DOTS MARKET, BY SEGMENTS
7. COMPETITIVE ANALYSIS
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