Chip on board LED Market

Increasing Demand for Energy-Efficient Lighting Solutions boosts market growth

Market CAGR for the growing demand for energy-efficient lighting solutions in a variety of applications is driving the chip on board (COB) LED industry. COB LEDs are a type of LED technology that allows several LED chips to be directly placed onto a substrate, resulting in higher light output and efficiency than standard LEDs. The need for energy-efficient lighting solutions that can cut energy usage and operational costs is driving demand for COB LEDs. COB LEDs are becoming increasingly popular in a variety of applications, including residential, commercial, and industrial lighting, as the emphasis on energy conservation and sustainability grows.

COB LEDs are also employed in vehicle illumination since they outperform previous lighting technologies in terms of performance and efficiency. COB LEDs are increasingly being used in the automobile sector for headlights, taillights, and other lighting applications because they improve visibility and safety on the road. Furthermore, the expanding trend of smart lighting, as well as the increasing usage of the Internet of Things (IoT), is driving demand for COB LEDs. COB LEDs can be used with sensors and other smart devices to create intelligent lighting solutions that can be controlled remotely and adapt to changing lighting conditions automatically.

In addition, COB LED manufacturers have been working more on enhancing the quality and intensity of light created by COB LEDs. They are incorporating new technology to produce better COB LED lighting products. This includes using adjustable illumination in COB LEDs. Users can change the colour temperature of LED lights with tunable lighting. LED lighting may be lowered or altered to give warm or cool light.

Adoption of lighting solutions based on tunable lighting is gaining popularity in commercial and residential institutions, including commercial spaces such as retail stores, hotels, office spaces, and hospitals, as well as residential areas such as residences and apartment lobbies. A growing number of companies are working on introducing COB LEDs with customizable lighting capabilities. Increasing innovation in COB LEDs will most likely drive their usage during the projected period.

The Global Chip On Board (COB) LED Market Industry is poised for substantial growth, with projections indicating a market value of 2.59 USD Billion in 2024 and an anticipated increase to 13.0 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 15.83% from 2025 to 2035, reflecting the increasing adoption of COB LED technology across various sectors. The market's expansion is driven by factors such as energy efficiency, technological advancements, and rising demand in automotive and smart lighting applications.

The Global Chip On Board (COB) LED Market Industry is experiencing a surge in demand driven by the increasing emphasis on energy efficiency across various sectors. Governments worldwide are implementing stringent regulations aimed at reducing energy consumption, which propels the adoption of COB LEDs due to their superior efficiency compared to traditional lighting solutions. For instance, COB LEDs can achieve up to 90 percent energy savings, making them an attractive option for both commercial and residential applications. This trend is expected to contribute significantly to the market's growth, with projections indicating a market value of 2.59 USD Billion in 2024.

The Global Chip On Board (COB) LED Market Industry is benefiting from the rapid expansion of smart lighting solutions. The integration of COB LEDs with smart technology enables enhanced control over lighting systems, allowing users to adjust brightness, color, and energy consumption remotely. This trend aligns with the increasing consumer preference for automation and energy management in residential and commercial spaces. As smart cities emerge globally, the demand for intelligent lighting solutions is expected to drive the adoption of COB LEDs, further solidifying their position in the market.

The automotive sector is increasingly adopting COB LEDs, significantly impacting the Global Chip On Board (COB) LED Market Industry. With the automotive industry's shift towards energy-efficient and long-lasting lighting solutions, COB LEDs are becoming the preferred choice for headlights, taillights, and interior lighting. Their compact size and high luminous efficacy allow for innovative designs and improved safety features. As the automotive market continues to evolve, the demand for COB LEDs is expected to rise, contributing to a projected market value of 13.0 USD Billion by 2035, reflecting the growing importance of this technology in vehicle design.

Technological innovations in the Global Chip On Board (COB) LED Market Industry are enhancing performance and expanding applications. Recent advancements in thermal management and light output efficiency have made COB LEDs more versatile, allowing them to be utilized in diverse settings such as automotive lighting, architectural illumination, and consumer electronics. These developments not only improve the lifespan of COB LEDs but also reduce maintenance costs, appealing to end-users. As a result, the market is projected to grow at a compound annual growth rate (CAGR) of 15.83% from 2025 to 2035, indicating a robust future for this technology.

Investment in infrastructure development is a key driver for the Global Chip On Board (COB) LED Market Industry. Governments and private sectors are increasingly allocating funds for the construction of smart cities, public transportation systems, and urban development projects, all of which require efficient lighting solutions. COB LEDs are favored for their durability and energy efficiency, making them suitable for street lighting and public spaces. This trend is likely to bolster market growth, as infrastructure projects worldwide prioritize sustainable and cost-effective lighting options.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Chip On Board (COB) LED Market area will dominate this market, because of the presence of multiple top producers and suppliers of COB LEDs in the region. Many significant competitors, like Cree, Lumileds, and Nichia Corporation, are based in the region and offer a wide range of COB LED products for a variety of applications.

Furthermore, the high adoption of energy-efficient lighting solutions in North America, as well as the increasing demand for COB LEDs in the automotive and horticultural lighting sectors, has propelled the region's COB LED market expansion.

Further, the major countries studiedin the market reportare The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: Chip On Board (COB) LED Market SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Chip On Board (COB) LED Market accounts for the second-largest market share because of increased acceptance by major manufacturers across a variety of end-use applications, including general lighting. Further, the German Chip On Board (COB) LED Market held the largest market share, and the UK Chip On Board (COB) LED Market was the fastest growing market in the European region

The Asia-Pacific Chip On Board (COB) LED Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of rising demand from major application sectors such as automotive, backlighting, and general illumination. Moreover, China’s Chip On Board (COB) LED Market held the largest market share, and the Indian Chip On Board (COB) LED Market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Chip On Board (COB) LED Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Chip On Board (COB) LED industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Chip On Board (COB) LED industry to benefit clients and increase the market sector. In recent years, the Chip On Board (COB) LED industry has offered some of the most significant advantages to medicine. Major players in the Chip On Board (COB) LED Market, including Lighting (US), Philips Lumileds Lighting Co. (Netherlands), Samsung Electronics Co. Ltd. (South Korea), Everlight Electronics Co. Ltd. (Taiwan) and others, are attempting to increase market demand by investing in research and development operations.

Hubbell Incorporated is a corporation based in the United States that creates, manufactures, and sells electrical and electronic equipment for non-residential and residential construction, industrial, and utility applications. Harvey Hubbell began Hubbell as a sole proprietorship in 1888, and the company was incorporated in Connecticut in 1905. Fortune ranks it 602nd. The electrical segment (which includes electrical systems products and lighting products) and the Power section are the company's reporting segments.

Hubbell has production sites in the United States, Canada, Switzerland, Puerto Rico, Mexico, China, Italy, the United Kingdom, Brazil, and Australia, as well as sales offices in Singapore, China, India, Mexico, South Korea, and Middle Eastern countries. In 2020, Hubbell Lighting, a prominent lighting solutions supplier, has purchased Litecontrol, a developer of architectural lighting fixtures. The acquisition aims to increase Hubbell Lighting's position in the architectural lighting industry while also broadening its product offering.

OSRAM Licht AG, headquartered in Munich and Premstätten (Austria), is a German manufacturer of electric lighting. OSRAM sees itself as a high-tech photonics company with a growing emphasis on sensor technology, visualization, and light treatment. Customers are served by the corporation in the consumer, automotive, healthcare, and industrial technology sectors. OSRAM GmbH is the operating corporation of OSRAM. In 2020, Osram, a renowned LED product producer, has announced a collaboration with Continental AG, a leading automotive supplier.

The collaboration aims to create revolutionary lighting solutions for the automobile sector by combining Osram's experience in LED technology with Continental's knowledge in automotive systems. The collaboration is likely to propel the COB LED industry in the automotive sector forward.