13 May 2021
Visiongain has published a new report on Chip-on-Board (CoB) LEDs Market Report to 2031: Forecasts by type (Lateral Chip, Vertical Chip, Flip Chip), by material (MCPCB, Ceramic), by application (General Lighting, Automotive Lighting, Backlighting, Others). PLUS Profiles of Leading Chip-on-Board LED Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Chip-on-board LED market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031. Chip on board (COB) is a type of Light Emitting Diode (LED) having multiple packaging into one lighting module. It provides superior light distribution capacity & with greater flexibility and save a considerable amount of energy. Moreover, LED light source is largely preferred over traditional lighting, as it has sharp brightness, enhances thermal management, high quality, and longer life span.
Benefits such as less consumption of power, better color mixing & lighting effect, and lower environmental hazards are propelling the growth of chip-on-board LED in the market. In addition, it offers high intensity & homogeneous luminosity and helps reducing heat emission which is driving the market growth. On the contrary, increased implementation of chip-on-board LED lights viable across streetlights and providing better features for chip-on-board LED by reducing cost are some of the major factors expected to provide lucrative opportunities to the market in the upcoming years.
COVID-19 Impact on Chip-on-Board LED Market
Massive slowdown of supply chain, increased uncertainty in the stock market, fluctuating demand- supply outlook are core areas severely affected the chip-on-board LED market globally. Moreover, due to several government guidelines having stringent policy imposed in their respective countries, the production process of electronics & semiconductor industry, and other sectors have adversely affected in the market.
Helps reducing heat emission and provides high intensity & homogeneous luminosity
With producing flat substrates & allows homogeneous luminous intensity distribution, the demand for chip-on-board LED is continuing to rise in the market. Moreover, it helps in reducing heat emission, which is another major factors, propelling the growth of chip-on-board LED market.
Surge in new product launches with advance features
The chip-on-board LED products demand is growing tremendously, as key players in the market are establishing partnership and providing advance products which is fuelling the market growth. For instance, in May 2020, Elemental LED which is a leading U.S. based engineering & technology company launched an advanced chip-on-board diffused linear lighting named STREAMLITE, having the latest LED diffusion technology.
Expand existing product lines
The key players providing chip-on-board LED products have several opportunities to expand their existing product lines in the market. Reducing cost and implementing advance technologies for business expansion and developing existing product lines in order to sustain in the competitive environment are some of the major opportunistic factor to the market in the upcoming years.
Growing implementation of chip-on-board LED lights viable across streetlights
With having reduced components & lower heat generation capacity, and eliminating traditional LED chip structure packaging are some of the major factors expected to boost the growth of chip-on-board LED lights implementation across streetlights. This, as a result is expected to maintain its dominance during the forecast period.
Some of the companies profiled in the report include Citizen Electronics, Cree, Inc., Eaton, Everlight, General Electric Company, Intel Corporation, PerkinElmer, Samsung Electronics Co., Ltd., Sharp Electronics Corporation, and Tridonic.
In May 2020, Taiwan Semiconductor Manufacturing Co., which is one of the largest contract manufacturer of silicon chips has announced business expansion by building chip factory in the U.S. Moreover, the expansion is set to spend $12 billion for building a chip factory in Arizona.
In February 2019, Broadcom Inc. which is a global technology company provides a broad range of semiconductor & infrastructure software solutions has launched a new product BCM43752 chip. In addition, it is engineered to support “chip-on-board” designs with providing cost reduction opportunities for manufacturers in the market.
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