Demand for Chip-on-Board LED and Impact of COVID-19……..



The global chip-on-board LED market size is expected to reach USD 9,179.7 million by 2020, according to a new study by Grand View Research, Inc. Increasing urbanization and infrastructure spending are expected to be the key drivers for market growth over the forecast period. Chip on Board (CoB) LEDs are energy efficient, have greater reliability and require less space. Furthermore, they offer high intensity and homogenous luminosity, which makes them suitable for high power applications. In recent times, the use of solid lighting technology as against traditional lighting has significantly led to increased adoption of COB light emitting diode (LED).
The exponential spread of COVID-19 worldwide has had an adverse impact on the semiconductor industry with manufacturing facilities temporarily shut, leading to a significant slowdown in the production. The outbreak could result in disruption across the ecosystem with several supply chain participants shifting their production facilities outside China, thereby reducing their over-reliance on China. Lockdowns imposed by the governments in the wake of the Covid-19 outbreak has not only affected manufacturing but also hauled consumer demand for semiconductor devices. Our analysts predict a decline in semiconductor revenue by over 1% in 2020 as compared to that in 2019. The report will account for Covid19 as a key market contributor.
High demand for CoB LED owing to increased adoption by several lighting application segments to gain benefit over technologies such as CFL and incandescent lighting is also expected to positively impact the global CoB light emitting diode market over the next six years. Furthermore, advancements in design and cost saving through economies of scale are expected to provide significant growth opportunity for the market over the forecast period. However, the complex manufacturing process and high price coupled with fluctuating global economic conditions may be a challenge for industry participants.
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https://www.grandviewresearch.com/industry-analysis/chip-on-board-light/request/rs1
Further key findings from the study suggest:
·         The illumination segment dominated the chip-on-board LED market and is expected to be the largest and fastest growing application over the next six years. This segment accounted for over 45% of the market in 2013, mainly because of COB LEDs’ wide area light emitting property. Backlighting application segment is expected to grow substantially due to the rise in the number of applications in handheld devices, monitors and LED televisions.
·         Asia Pacific accounted for over 50% of the global CoB LED market revenue in 2013, and is expected to dominate demand over the forecast period. Further, it is expected to exhibit the fastest growth from 2014 to 2020, owing to government initiatives favoring COB LED adoption and large number of market participants.
·         Companies operating in the chip on board light emitting diode market include Philips LumiLEDs Lighting Company, Cree Inc., Samsung Electronics Co. Ltd., Citizen Electronics Co. Ltd., Osram Opto Semiconductors GmbH, Everlight Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Nichia Corporation, Lumens Co. Ltd, LG Innotek Co. Ltd, etc. The market is consolidated in nature, and development of efficient and cost effective products is expected to serve as a key growth strategy over the forecast period.
Chip on board (CoB) is a technology of light emitting diode (LED) packaging wherein the uncoated semiconductor elements are directly mounted on a substrate or PCB with the help of a conductive or non-conductive adhesive and then wire bonded for electrical connectivity. This form of packaging design offers greater flexibility and provides better light distribution capacity. COB LEDs save a considerable amount of energy, have a long lifespan, greater reliability, better thermal management, high quality and most importantly, they require less space. 
COB LEDs produce better color mixing and lighting effect and thus enhance the consumer experience. They are also suitable for high power applications as they offer high intensity and homogeneous luminosity. The shift from traditional lighting to solid state lighting technology has led to a wider adoption of COB LED. The global chip on board LED market is expected to grow at a fast pace over the forecast period. Technological improvements and cost reductions will boost the market’s growth. Urbanization, government initiatives and increasing investments in infrastructure activities are some of the key drivers for the market’s growth. 
Governments of various regions are adopting this technology due to greater benefits over competing technologies such as incandescent and CFL lighting. The decrease in average selling price of LEDs has surged the demand for COB LEDs due to their increased adoption for various lighting application segments. COB LEDs require a complex manufacturing process and are more expensive as compared to other competing technologies. In addition, the fluctuations in global economic conditions could prove to be a restraint for market’s growth. However, given the nascent stage of the market, cost saving through economies of scale and advancement in design could provide a significant growth opportunity for the global CoB LED market.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/chip-on-board-light-emitting-diode-market
Grand View Research has segmented the global chip-on-board LED market on the basis of application:
Chip-on-Board LED Application Outlook (Revenue, USD Million, 2012 - 2020)
·         Automotive
·         Backlighting
·         Illumination
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




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