San Francisco, California (PRWEB) August 20, 2014
The global Chip on Board (COB) LED market 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. 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 LED.
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 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.
The report “Chip on Board (COB) Light Emitting Diode (LED) Market Analysis By Application (Automotive, Backlighting, Illumination) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/chip-on-board-light
Request Free Sample of This Report at http://www.grandviewresearch.com/industry-analysis/chip-on-board-light/request
Further key findings from the study suggest:
Browse All Reports of This Category by Grand View Research at http://www.grandviewresearch.com/industry/semiconductors
For the purpose of this study, Grand View Research has segmented the global Chip on Board (COB) Light Emitting Diode (LED) market on the basis of application and region:
Browse All Ongoing Reports by Grand View Research at http://www.grandviewresearch.com/ongoing-reports
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, 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 energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
Corporate Sales Specialist, USA
Grand View Research, Inc
Related Reports by Grand View Research
Smart Meters Market Analysis And Segment Forecasts To 2020 - http://www.grandviewresearch.com/industry-analysis/smart-meters-market
The global market for smart meters is expected to reach USD 22,177 million by 2020, according to a new study by Grand View Research, Inc. Smart meters provide two-way communication and benefits including time-based rates, faster power outage detection and resolution, and dynamic pricing among others.
Image Sensors Market Analysis By Technology, By Application And Segment Forecasts To 2020 - http://www.grandviewresearch.com/industry-analysis/image-sensors-market
The global market for image sensors is expected to reach USD 12,028.2 million by 2020, according to a new study by Grand View Research, Inc. Image sensors are primarily used in camera phones and tablets; therefore, growing demand for these devices is expected to be the key driving force for the market.