FEATURED COMPANIES
- Bridgelux Inc.
- General Electric Company
- LEDVANCE GmbH
- Lumileds Holding B.V.
- OSRAM Licht AG
- Tridonic GmbH & Co KG
- MORE
Global Chip-On-Board Light Emitting Diodes (COB LEDs) Market to Reach $41.6 Billion by 2027
Amid the COVID-19 crisis, the global market for Chip-On-Board Light Emitting Diodes (COB LEDs) estimated at US$7 Billion in the year 2020, is projected to reach a revised size of US$41.6 Billion by 2027, growing at a CAGR of 28.9% over the analysis period 2020-2027. Outdoor Lighting, one of the segments analyzed in the report, is projected to record a 24.7% CAGR and reach US$8.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Residential segment is readjusted to a revised 30.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.9 Billion, While China is Forecast to Grow at 35.4% CAGR
The Chip-On-Board Light Emitting Diodes (COB LEDs) market in the U.S. is estimated at US$1.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.4 Billion by the year 2027 trailing a CAGR of 35.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.3% and 26.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 24.6% CAGR.
Automotive Segment to Record 38.1% CAGR
In the global Automotive segment, USA, Canada, Japan, China and Europe will drive the 36.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$674.6 Million in the year 2020 will reach a projected size of US$6.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.6 Billion by the year 2027, while Latin America will expand at a 39.4% CAGR through the analysis period.
Select Competitors (Total 55 Featured):
Amid the COVID-19 crisis, the global market for Chip-On-Board Light Emitting Diodes (COB LEDs) estimated at US$7 Billion in the year 2020, is projected to reach a revised size of US$41.6 Billion by 2027, growing at a CAGR of 28.9% over the analysis period 2020-2027. Outdoor Lighting, one of the segments analyzed in the report, is projected to record a 24.7% CAGR and reach US$8.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Residential segment is readjusted to a revised 30.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.9 Billion, While China is Forecast to Grow at 35.4% CAGR
The Chip-On-Board Light Emitting Diodes (COB LEDs) market in the U.S. is estimated at US$1.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.4 Billion by the year 2027 trailing a CAGR of 35.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.3% and 26.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 24.6% CAGR.
Automotive Segment to Record 38.1% CAGR
In the global Automotive segment, USA, Canada, Japan, China and Europe will drive the 36.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$674.6 Million in the year 2020 will reach a projected size of US$6.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.6 Billion by the year 2027, while Latin America will expand at a 39.4% CAGR through the analysis period.
Select Competitors (Total 55 Featured):
- Acuity Brands Lighting Inc.
- Bridgelux Inc.
- Citizen Electronics Co. Ltd.
- Cree Inc.
- Everlight Electronics Co. Ltd.
- Excelitas Technologies® Corp.
- General Electric Company
- Havells India Limited
- LEDVANCE GmbH
- Leiso Lighting (Dongguan) Tech. Limited
- Lextar Electronics Corporation
- LG Innotek
- Lumileds Holding B.V.
- Nichia Corporation
- OSRAM Licht AG
- Samsung Electronics Co., Ltd.
- Seoul Semiconductor Co. Ltd.
- Sharp Corporation
- Tridonic GmbH & Co KG
- Zumtobel Group AG
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Bridgelux Inc.
- General Electric Company
- LEDVANCE GmbH
- Lumileds Holding B.V.
- OSRAM Licht AG
- Tridonic GmbH & Co KG
- MORE
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
III. MARKET ANALYSIS
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Chip-on-Board (COB) Technology: Enabling Easy, Fast, Perfect & Connective LED Lighting
- Growth Drivers in a Nutshell
- Recent Market Activity
- Superior Attributes of Chip-on-Board LEDs Over Conventional LEDs Lead to Widespread Adoption
- Rapid Penetration of LED Lighting Worldwide: Foundation for Market Growth
- Outlook
- Asia-Pacific Offers Huge Untapped Market Potential for COB LEDs
- Impact of Covid-19 and a Looming Global Recession
- Acuity Brands Lighting, Inc. (USA)
- Bridgelux, Inc. (USA)
- Citizen Electronics Co., Ltd. (Japan)
- Cree, Inc. (USA)
- Everlight Electronics Co., Ltd. (Taiwan)
- Excelitas Technologies® Corp. (USA)
- General Electric Company (USA)
- Havells India Limited (India)
- LEDVANCE GmbH (Germany)
- Leiso Lighting (Dongguan) Tech. Limited (China)
- Lextar Electronics Corporation (Taiwan)
- LG Innotek (South Korea)
- Lumagine, LLC (USA)
- Lumileds Holding B.V (Netherlands)
- Luminous Devices, Inc. (USA)
- Nichia Corporation (Japan)
- Osram Licht AG (Germany)
- ProPhotonix Limited (USA)
- Samsung Electronics Co., Ltd. (South Korea)
- Seoul Semiconductor Co., Ltd. (South Korea)
- Sharp Corporation (Japan)
- Signify N.V. (The Netherlands)
- Zumtobel Group AG (Austria)
- Tridonic GmbH & Co KG (Austria)
- Growing Prominence of Smart Lighting Worldwide Drives Strong Demand for COB LEDs
- Surging Electricity Consumption Provides the Perfect Platform for Market Expansion
- Favorable Demographic Trends Strengthens Market Prospects
- Burgeoning Middle Class Population
- Exponential Increase in Urban Population
- COB LEDs Adoption to Vary Across Segments in the Illumination Application Area
- Illumination Segments: Key Factors Impacting Adoption
- The IneviTable Shift of General Lighting towards SSL Technology Bodes Well for Market Growth
- Road Map for Inefficient Light Source Banning
- Incandescent Bulb Phase-Out Road Map for Major Regions/Countries
- Schedule of Incandescent Bulb Ban in Select Regions/Countries
- COB LED Arrays: Ensuring Uniform Architectural Lighting Experience throughout Installed Lifetime
- COB LEDs: Preferred Choice for Efficient Highlighting of Merchandise in the Retail Sector
- Residential Sector: The Fastest Growing Illumination Application Segment in the Long Run
- Outdoor Lighting Dominate Adoption of COB LEDs for Illumination
- Growing Automobiles Production Favors Market Penetration in the Automotive Sector
- Increasing Focus on Energy Efficient Building Technologies Augurs Well for the Market
- Recovery in Global Construction Activity Strengthen Market Demand in the Near Term
- Increasing Demand for Large Screen TVs to Boost Demand in Backlighting Application
- Developing Asian Countries: Spearheading Growth for COB LED Backlighting
- Rising Popularity of Lighter, Slimmer and Brighter Display Monitors Drives Demand in the Medical Sector
III. MARKET ANALYSIS
- UNITED STATES
- CANADA
- JAPAN
- CHINA
- EUROPE
- FRANCE
- GERMANY
- ITALY
- UNITED KINGDOM
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA-PACIFIC
- AUSTRALIA
- INDIA
- SOUTH KOREA
- REST OF ASIA-PACIFIC
- LATIN AMERICA
- ARGENTINA
- BRAZIL
- MEXICO
- REST OF LATIN AMERICA
- MIDDLE EAST
- IRAN
- ISRAEL
- SAUDI ARABIA
- UNITED ARAB EMIRATES
- REST OF MIDDLE EAST
- AFRICA
- Total Companies Profiled: 55
Note: Product cover images may vary from those shown
- Acuity Brands Lighting Inc.
- Bridgelux Inc.
- Citizen Electronics Co. Ltd.
- Cree Inc.
- Everlight Electronics Co. Ltd.
- Excelitas Technologies® Corp.
- General Electric Company
- Havells India Limited
- LEDVANCE GmbH
- Leiso Lighting (Dongguan) Tech. Limited
- Lextar Electronics Corporation
- LG Innotek
- Lumileds Holding B.V.
- Nichia Corporation
- OSRAM Licht AG
- Samsung Electronics Co. Ltd.
- Seoul Semiconductor Co. Ltd.
- Sharp Corporation
- Tridonic GmbH & Co KG
- Zumtobel Group AG
Note: Product cover images may vary from those shown
