Global Chip On Board (COB) Light Emitting Diode Market Size By Type (LED Illumination, LED Backlighting), By Application (Illumination, Backlighting), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Chip On Board (COB) Light Emitting Diode Market Size And Forecast
Chip On Board (COB) Light Emitting Diode Market size was valued at USD 29.69 Billion in 2024 and is projected to reach USD 213.08 Billion by 2031, growing at a CAGR of 28.57% from 2025 to 2031.
The global market for Chip On Board (COB) Light Emitting Diode Market continues to grow significantly, driven by the increasing Energy efficiency regulations. They are a significant driving force behind the growth of the COB LED market. These regulations, implemented by governments and regulatory bodies around the world, aim to reduce energy consumption, lower greenhouse gas emissions, and promote the adoption of energy-efficient lighting technologies such as COB LEDs.
Global Chip On Board (COB) Light Emitting Diode Market Definition
The COB LED market encompasses Chip-on-Board Light Emitting Diodes (COB LEDs), a type of LED technology where multiple LED chips are directly mounted onto a substrate to create a unified module or “chip”. This technology offers several advantages over traditional LED packages, such as higher light density, improved thermal management, and simplified manufacturing processes.
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Global Chip On Board (COB) Light Emitting Diode Market Overview
The rising demand for high-quality lighting in both commercial and residential sectors has been a significant driving force behind the growth of the COB LED market. This demand is fueled by various factors, including the need for energy-efficient lighting solutions, increasing focus on environmental sustainability, advancements in LED technology, and evolving consumer preferences for superior lighting experiences.
Good lighting makes all the difference, whether you're at home or at work. For businesses, bright and welcoming spaces keep customers happy, boosting sales and creating a comfortable atmosphere. It's the same for restaurants and hotels – good lighting sets the mood and makes guests feel at ease. Homeowners also need the right lighting for different tasks. From cooking to reading, working to entertaining, the right light makes everything easier and more enjoyable. That's why the smart lighting market is booming. It was worth nearly $10 billion in 2020 and is expected to reach almost $50 billion by 2028. That's a huge increase! Why is this happening? People want to save energy, and smart lighting systems can help. They also like the convenience of being able to control their lights with their phones or voice assistants. And LED lights are becoming more and more popular because they're energy-efficient and last a long time.
The high initial cost of COB LED technology is a significant restraining factor that impacts its widespread adoption, particularly in cost-sensitive markets or among consumers with limited budgets. Despite the long-term savings on energy and maintenance costs, the upfront investment required for COB LED lighting fixtures can be a barrier for many customers. This factor influences both individual consumers and businesses when making decisions about large-scale lighting upgrades or installations.
The trend of rapid adoption of COB LED technology in automotive lighting for both interior and exterior applications is driven by several factors, including advancements in LED technology, increasing demand for energy-efficient lighting solutions, regulatory requirements, and growing consumer preferences for premium lighting experiences.
Global Chip On Board (COB) Light Emitting Diode MarketSegmentation Analysis
The Global Chip On Board (COB) Light Emitting Diode Market is segmented on the basis of Type, Application, and Geography.
Chip On Board (COB) Light Emitting Diode Market, By Type
LED Illumination
LED Backlighting
Based on Type, The market is segmented into LED Illumination and LED Backlighting. The LED Illumination type will have the highest market share in the assessment timeline. COB LEDs are a type of high-power LED package where multiple LED chips are mounted directly onto a single substrate, forming a compact and integrated lighting source. LED illumination offers numerous advantages over traditional lighting technologies, including higher energy efficiency, longer lifespan, better color rendering, and greater design flexibility.
Chip On Board (COB) Light Emitting Diode Market, By Application
Illumination
Backlighting
Automotive
Based on Application, The market is segmented into Illumination, Backlighting, and Automotive. The Illumination segment will have highest market share in the assessment timeline. Illumination encompasses a wide range of lighting applications, from general ambient lighting to task lighting, accent lighting, architectural lighting, and specialty lighting effects. COB LED illumination offers several advantages over traditional lighting sources, including higher energy efficiency, longer lifespan, better color rendering, and greater design flexibility.
Chip On Board (COB) Light Emitting Diode Market, By Geography
North America
Europe
Asia Pacific
Latin America
Middle East And Africa
Based on Geography, The Global Chip On Board (COB) Light Emitting Diode Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region is a dynamic and rapidly growing market for COB (Chip-on-Board) LED technology, driven by factors such as urbanization, industrialization, infrastructure development, and government initiatives promoting energy efficiency and sustainability. The Asia Pacific region is one of the largest and fastest-growing markets for COB LED technology, fueled by the region’s growing population, rising disposable incomes, and increasing demand for energy-efficient lighting solutions.
Key Players
The “Global Chip On Board (COB) Light Emitting Diode Market” study report will provide valuable insight with an emphasis on the global market including some of the major players of the industry are OSRAM GmbH, Samsung Electronics Co., Citizen Electronics Co., Everlight Electronics Co. Ltd., Seoul Semiconductor Co., Nichia Corporation, Lumens Co. Ltd., PerkinElmer, Citizen Electronics, and Tridonic.
Our market analysis offers detailed information on major players wherein our analysts provide insight into the financial statements of all the major players, product portfolio, product benchmarking, and SWOT analysis.
Key Developments
In January 2024, Samsung Electronics announced its launch of a new lifestyle display light up. This will help Samsung to expand its product portfolio.
In October 2023, OSRAM GmbH announced the expansion of its LED retrofit lamp series. These lamps can be used for more than 200 vehicle models.
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