Chip On Board LED Market Is Projected To Expand At A Healthy Growth Rate By 2023Posted by Minakshi on February 5th, 2021 Market Synopsis According to MRFR, the global Chip-on-board LED market was valued at USD 2.01 billion in 2017 and is exected to reach USD 5.26 Billion by the end of forecast period with a CAGR of 17.88%. Market Highlights
Get Free Sample Report : https://www.marketresearchfuture.com/sample_request/7030 Segmentation By material, the market is bifurcated into MCPCB and ceramic. Ceramic is the most commonly used material for substrate owing to its better thermal performance. By application, the market is segmented into backlighting, general lighting, automotive lighting and others. General lighting is further segmented into commercial residential, and industrial while backlighting is segmented into smartphones, tablets, monitors, televisions and others. Under automotive lighting, chip-on-board LED market is bifurcated into interior lighting and exterior lighting. Regional Assessment
It is expected that the global demand for Chip-on-board LED will expand at a substantial pace during the 2018 to 2023 forecast period. Chip-on-board LED market geographic analysis is studied for Europe , North America, Asia-Pacific and the rest of the world (including the Middle East, Africa, and Latin America). Asia-Pacific is slated to dominate the Chip-on-board LED market during the forecast period due to the largest manufacturing and usage share among the regions mentioned. Countries such as South Korea, Taiwan, and China contribute to the largest market share due to the presence in these regions of a significant number of vendors. Some of the key providers of chip-on-board LED such as Seoul Semiconductor Citizen Electronics, and Samsung Electronics are based out of Asia-Pacific and also have a vast customer base within the region as well as across the globe. Owing to continued policy efforts such as subsidies and opportunities in the region to improve domestic production capacity, China is expected to experience strong growth during the forecast period. North America is the second dominant region on the Chip-on-board LED market followed by Europe because of the high number of retail and automotive lighting installations. Increased infrastructure spending and rapid technical developments are also expected to drive the growth of chip-on-board LED in these regions.
Key players
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