Chip on Board (Cob) Light Emitting Diode (Led) Market Worth $9,179.7 Million by 2020 by Grand View Research, Inc
- Submitted by: Andrewgvr
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- Category: Science
- Date Submitted: 08/22/2014 06:06 AM
- Pages: 3
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The global Chip on Board (COB) LED market is expected to reach USD 9,179.7 million by 2020, according to a new study by Grand View Research, Inc. Increasing urbanization and infrastructure spending are expected to be the key drivers for market growth over the forecast period. COB LEDs are energy efficient, have greater reliability and require less space. Furthermore, they offer high intensity and homogenous luminosity, which makes them suitable for high power applications. In recent times, the use of solid lighting technology as against traditional lighting has significantly led to increased adoption of COB LED.
High demand for COB LED owing to increased adoption by several lighting application segments to gain benefit over technologies such as CFL and incandescent lighting is also expected to positively impact the global market over the next six years. Furthermore, advancements in design and cost saving through economies of scale are expected to provide significant growth opportunity for the market over the forecast period. However, the complex manufacturing process and high price coupled with fluctuating global economic conditions may be a challenge for industry participants.
The report “Chip on Board (COB) Light Emitting Diode (LED) Market Analysis By Application (Automotive, Backlighting, Illumination) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/chip-on-board-light.
Further key findings from the study suggest:
• The illumination segment dominated the market and is expected to be the largest and fastest growing application over the next six years. This segment accounted for over 45% of the market in 2013, mainly because of COB LEDs’ wide area light emitting property. Backlighting application segment is expected to grow substantially due to the rise in the number of applications in handheld devices, monitors and LED...
High demand for COB LED owing to increased adoption by several lighting application segments to gain benefit over technologies such as CFL and incandescent lighting is also expected to positively impact the global market over the next six years. Furthermore, advancements in design and cost saving through economies of scale are expected to provide significant growth opportunity for the market over the forecast period. However, the complex manufacturing process and high price coupled with fluctuating global economic conditions may be a challenge for industry participants.
The report “Chip on Board (COB) Light Emitting Diode (LED) Market Analysis By Application (Automotive, Backlighting, Illumination) And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/chip-on-board-light.
Further key findings from the study suggest:
• The illumination segment dominated the market and is expected to be the largest and fastest growing application over the next six years. This segment accounted for over 45% of the market in 2013, mainly because of COB LEDs’ wide area light emitting property. Backlighting application segment is expected to grow substantially due to the rise in the number of applications in handheld devices, monitors and LED...