Chip On Board (COB) LED Market Size was valued at USD 1.9 Billion in 2022. The Chip On Board (COB) LED Market industry is projected to grow from USD 2.2 Billion in 2023 to USD 8.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.10% during the forecast period (2023 - 2032). The growing emphasis of governments throughout the world on promoting energy-efficient lighting and lowering power requirements are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
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 Chip On Board (COB) LED Market segmentation, based on Material includes MCPCB, ceramic. The ceramic segment dominates the COB LED market due to the high durability, thermal stability, and light output efficiency of ceramic-based COB LEDs. Ceramic substrates have higher thermal conductivity than other materials, enabling for more efficient heat dissipation and higher power densities. This results in improved performance and a longer lifespan for COB LED products. Furthermore, ceramic-based COB LEDs are resistant to high temperatures, humidity, and other environmental variables, make them excellent for usage in hostile locations. Furthermore, ceramic-based COB LEDs have superior colour rendering and higher luminous efficacy, making them ideal for usage in high-end lighting applications such as commercial and architectural lighting.
Figure1: Chip On Board (COB) LED Market, by Material, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Chip On Board (COB) LED Market segmentation, based on Application, includes general lighting, backlighting and automotive lighting. In 2022, the backlighting application segment had the highest revenue share. The market for CCOB LED chips is predicted to increase significantly due to its high efficiency and low cost per unit of light when compared to traditional lighting systems. These chips have a better resolution, allowing designers to generate more realistic-looking graphics. This trend is expected to continue, propelling the general lighting application segment as well as automotive lighting applications over the projection period.
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.
Osram Opto Semiconductors GmbH (Germany)
Citizen Electronics Co. Ltd. (Japan)
Cree Inc. (US)
Seoul Semiconductor Co. Ltd. (South Korea)
GE Lighting (US)
Philips Lumileds Lighting Co. (Netherlands)
Samsung Electronics Co. Ltd. (South Korea)
Everlight Electronics Co. Ltd. (Taiwan)
LG Innotek Co. Ltd. (South Korea)
In May 2021, Cree, Inc. announced the addition of new CMT LEDs to the XLamp High Current LED Array family, extending Cree's latest metal-based chip-on-board (COB) LED technology to the most common COB form factors.
In December 2020, Nichia Corporation, a renowned LED lighting maker, has announced a collaboration with Infineon Technologies, a semiconductor manufacturer. The collaboration sought to create high-quality LED drivers for automotive lighting applications by leveraging Infineon's expertise in semiconductor technology.
In January 2019, Lumileds, a prominent LED lighting product maker, announced the growth of its COB LED production capacity. The expansion was designed to address the increased demand for COB LEDs in a variety of applications such as general lighting, automotive lighting, and speciality lighting.
MCPCB
Ceramic
General Lighting
Backlighting
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size2022 | USD 1.9Billion |
| Market Size 2023 | USD 2.2Billion |
| Market Size2032 | USD 8.4 Billion |
| Compound Annual Growth Rate (CAGR) | 18.10% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material , Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Osram Opto Semiconductors GmbH (Germany). Citizen Electronics Co. Ltd. (Japan), Cree Inc. (US), Seoul Semiconductor Co. Ltd. (South Korea), Lighting (US), Philips Lumileds Lighting Co. (Netherlands), Samsung Electronics Co. Ltd. (South Korea), Everlight Electronics Co. Ltd. (Taiwan), LG Innotek Co. Ltd. (South Korea) and Lumens Co., Ltd. (South Korea) |
| Key Market Opportunities | Increasing infrastructure development investment. |
| Key Market Dynamics | Reduced power requirements |
Chip on board LED Market Highlights:
Frequently Asked Questions (FAQ) :
The Chip On Board (COB) LED Market size was valued at USD 1.9Billion in 2022.
The global market is projected to grow at a CAGR of 18.10% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Lighting (US), Philips Lumileds Lighting Co. (Netherlands), Samsung Electronics Co. Ltd. (South Korea), Everlight Electronics Co. Ltd. (Taiwan).
The ceramic category dominated the market in 2022.
The backlighting had the largest share in the global market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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