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According to market analysts Technavio’s latest report, the global Chip-on-Board (LED) market is expected to be worth USD 1.73 billion by 2023. The market is forecast to grow at a CAGR of almost 12% during the 2019-2023 period. The new report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Technavio has suggested three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.
According to the report, the market is fragmented, and the degree of fragmentation will accelerate during the forecast period. CITIZEN ELECTRONICS CO LTD., Cree, Inc., Lumileds Holding B.V., NICHIA CORPORATION, and OSRAM GmbH are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Growing adoption of COB LED in smart lighting has been instrumental in driving the growth of the market. The study identified adoption of COB LEDs in horticulture also as one of the prime reasons driving the Chip-on-Board (COB) LED market growth during the next few years.
The Chip-on-Board (COB) LED market is segmented on the basis of, Application - General Lighting, Automotive Lighting, Backlighting, and Geographic Landscape - Americas, APAC, EMEA.
Technavio has also presented a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The report covers the following areas:
- Chip-on-Board (COB) LED Market Size
- Chip-on-Board (COB) LED Market Trends
- Chip-on-Board (COB) LED Market Industry Analysis
The report also provides a detailed analysis of around 25 vendors operating in the Chip-on-Board (COB) LED market, including some of the vendors such as CITIZEN ELECTRONICS CO LTD, Cree Inc, Lumileds Holding B.V., NICHIA CORPORATION, and OSRAM GmbH. Backed with competitive intelligence and bench marking, the research report on the Chip-on-Board (COB) LED market is designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
Chip-on-Board (COB) LED Market 2019-2023 : Key Highlights
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will assist Chip-on-Board (COB) LED market growth during the next five years
- Estimation of the Chip-on-Board (COB) LED market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the Chip-on-Board (COB) LED market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of Chip-on-Board (COB) LED market vendors
Click here to read/download the full report.
