Market research firm Research and Markets forecasts that the global Chip on Board LED market will grow at a compound annual growth rate of 40.71 percent over the period 2013-2018.
Market research firm Research and Markets forecasts that the global Chip on Board LED market will grow at a compound annual growth rate of 40.71 percent over the period 2013-2018. The company contends that one of the key factors contributing to this market growth is the declining average selling price of LEDs. The Global Chip on Board LED market has also been witnessing the increasing demand of chip-on-board (COB) LEDs in general lighting applications. However, the company says that fluctuating global economic conditions could present a challenge to the growth of the COB LED market.
According to Research and Markets, the key vendors dominating this market space are Citizen Electronics co. Ltd., Cree Inc., Nichia Corp., Osram Opto Semiconductors GmbH, Philips Lumileds Lighting Co., Samsung Electronics Co. Ltd., and Seoul Semiconductor Co. Ltd. Other vendors in the market include Everlight Electronics Co. Ltd., Lumens Co. Ltd., and LG Innotek Co. Ltd.
A company analyst stated, “The shift from traditional lighting sources to solid-state lighting technology has resulted in the wider adoption of COB LEDs. COB LEDs are wide-area light emitters and thus, are increasingly used in highway and street lighting, which require large amounts of light spread across a large area.” The analyst added, “COB LEDs produce better color mixing, better lighting effect, and require very low thermal resistance systems, thereby enhancing the total consumer experience. Thus, greater power density, efficient heat dissipation, small space requirement, and high performance makes COB LEDs more suitable than conventional LED packages for various general lighting applications.”
The company also pointed out that COB LEDs offer high intensity with a homogenous luminous field suitable for high-power LED applications, which also increases the potential for savings.
COB LED Market to Grow Rapidly Through 2018
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