Chip on Board (COB) Light Emitting Diode (LED) Market by Application (Automotive, Backlighting, Illumination) Is Expected to Reach USD 9,179.7 Million by 2020

Market Size - $ 1,226.1 million in 2013, Market Growth - CAGR of 33.2%, Market Trends – increasing need for energy efficient lighting new report by Grand View Research. View full report with TOC - http://www.grandviewresearch.com/industry-analysis/chip-on-board-light.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend

Grand View Research

Asia Pacific expected to remain the key regional market over the forecast period.

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:

  • The illumination segment dominated the 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 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 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.

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:

  •      COB LED Application Outlook (Revenue, USD Million, 2012 – 2020)
            • Automotive
            • Backlighting
            • Illumination
  •      COB LED Regional Outlook (Revenue, USD Million, 2012 – 2020)
            • North America
            • Europe
            • Asia Pacific
            • RoW

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/

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Email: sales(at)grandviewresearch(dot)com

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.