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Chip-on-Board LED Market Trends

  • Report ID: GMI8905
  • Published Date: Apr 2024
  • Report Format: PDF

Chip-on-Board LED Market Trends

The growing demand for specialty lighting applications in the retail and hospitality sectors reflects the importance of lighting design in shaping customer perceptions, boosting sales, and helping build brand loyalty. As businesses prioritize the creation of immersive and memorable experiences for customers, chip-on-board LEDs transform retail and hospitality environments with their versatility, energy efficiency, and aesthetic appeal. For instance, in July 2022, ViewSonic launches its first 4K UHD All-in-One Direct View LED display series boasting the COB LED packaging with flip chips. It offers the LED display an outstanding visual performance with 4K resolution, 20000:1 ultra-high contrast ratio, and a wider viewing angle of 170 degrees as well as enhanced reliability.
 

With the rising sustainability concerns, there is a shift toward smart and eco-friendly lighting options. Organizations are increasingly incorporating sustainable materials and eco-friendly manufacturing processes in chip-on-board LED products. This includes the use of recyclable materials, bio-based plastics, and non-toxic components to reduce environmental impacts throughout the product lifecycle. For instance, in September 2023, Dahua Technology launched its Dahua CH II Series fine pixel pitch indoor LED display, which provides visual clarity. Its surface luminescence provides softer, pixel-free illumination, which counters digital visual fatigue, and ensures uniform color from all viewing angles by perfecting ink color parameters, addressing and eliminating the industry challenge of batch ink color discrepancies.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The Chip-on-Board LED market was valued at USD 2.2 billion in 2023 and is anticipated to grow at 13% CAGR between 2024 and 2032, attributed to the rise of indoor farming and greenhouse cultivation.

The ceramic segment is anticipated to grow at 13.5% CAGR between 2024 and 2032, driven by the advancements in phosphor technology and manufacturing processes.

Asia Pacific market is anticipated to sustain 14.5% CAGR from 2024 to 2032, owing to rapid economic growth, with expanding industries such as automotive, consumer electronics, healthcare, and infrastructure development.

OSRAM GmbH, Nichia Corporation, Cree LED, Inc., ProPhotonix Limited, Citizen Electronics Co., Ltd, Samsung Electronics Co., Ltd and Nichia Corporation

Chip-on-Board LED Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 180
  • Countries covered: 22
  • Pages: 220
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