Global Chip On Board (COB) Light Emitting Diode Market Research Covers, Future Trends and Deep Analysis 2024-2032

Chip On Board (COB) Light Emitting Diode Market Size And Forecast

Chip On Board (COB) Light Emitting Diode Market size was valued at USD 29.69 Billion in 2024 and is projected to reach USD 213.08 Billion by 2031, growing at a CAGR of 28.57% from 2025 to 2031.

The global market for Chip On Board (COB) Light Emitting Diode Market continues to grow significantly, driven by the increasing Energy efficiency regulations. They are a significant driving force behind the growth of the COB LED market. These regulations, implemented by governments and regulatory bodies around the world, aim to reduce energy consumption, lower greenhouse gas emissions, and promote the adoption of energy-efficient lighting technologies such as COB LEDs.

Global Chip On Board (COB) Light Emitting Diode Market Definition

The COB LED market encompasses Chip-on-Board Light Emitting Diodes (COB LEDs), a type of LED technology where multiple LED chips are directly mounted onto a substrate to create a unified module or “chip”. This technology offers several advantages over traditional LED packages, such as higher light density, improved thermal management, and simplified manufacturing processes.

Global Chip On Board (COB) Light Emitting Diode Market Overview

The rising demand for high-quality lighting in both commercial and residential sectors has been a significant driving force behind the growth of the COB LED market. This demand is fueled by various factors, including the need for energy-efficient lighting solutions, increasing focus on environmental sustainability, advancements in LED technology, and evolving consumer preferences for superior lighting experiences.

High-quality lighting is essential for creating comfortable, productive, and visually appealing environments in both commercial and residential settings. Businesses, offices, retail stores, restaurants, and hospitality establishments require well-lit spaces to enhance customer experience, promote sales, and create a welcoming ambiance. Similarly, homeowners seek lighting solutions that provide optimal illumination for various activities, including reading, cooking, working, and entertaining. The global smart lighting market size was valued at $9.71 billion in 2020 and is projected to reach $49.50 billion by 2028, growing at a compound annual growth rate (CAGR) of 22.6% from 2021 to 2028. This significant market growth is driven by increasing demand for energy-efficient lighting solutions, technological advancements in smart lighting systems, and growing adoption of LED lighting products in residential and commercial applications.

The high initial cost of COB LED technology is a significant restraining factor that impacts its widespread adoption, particularly in cost-sensitive markets or among consumers with limited budgets. Despite the long-term savings on energy and maintenance costs, the upfront investment required for COB LED lighting fixtures can be a barrier for many customers. This factor influences both individual consumers and businesses when making decisions about large-scale lighting upgrades or installations.

The trend of rapid adoption of COB LED technology in automotive lighting for both interior and exterior applications is driven by several factors, including advancements in LED technology, increasing demand for energy-efficient lighting solutions, regulatory requirements, and growing consumer preferences for premium lighting experiences.

Global Chip On Board (COB) Light Emitting Diode Market: Segmentation Analysis

The Global Chip On Board (COB) Light Emitting Diode Market is segmented on the basis of Type, Application, and Geography.

Chip On Board (COB) Light Emitting Diode Market, By Type

• LED Illumination
• LED Backlighting

Based on Type, The market is segmented into LED Illumination and LED Backlighting. The LED Illumination type will have the highest market share in the assessment timeline. COB LEDs are a type of high-power LED package where multiple LED chips are mounted directly onto a single substrate, forming a compact and integrated lighting source. LED illumination offers numerous advantages over traditional lighting technologies, including higher energy efficiency, longer lifespan, better color rendering, and greater design flexibility.

Chip On Board (COB) Light Emitting Diode Market, By Application

• Illumination
• Backlighting
• Automotive

Based on Application, The market is segmented into Illumination, Backlighting, and Automotive. The Illumination segment will have highest market share in the assessment timeline. Illumination encompasses a wide range of lighting applications, from general ambient lighting to task lighting, accent lighting, architectural lighting, and specialty lighting effects. COB LED illumination offers several advantages over traditional lighting sources, including higher energy efficiency, longer lifespan, better color rendering, and greater design flexibility.

Chip On Board (COB) Light Emitting Diode Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East And Africa

Based on Geography, The Global Chip On Board (COB) Light Emitting Diode Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region is a dynamic and rapidly growing market for COB (Chip-on-Board) LED technology, driven by factors such as urbanization, industrialization, infrastructure development, and government initiatives promoting energy efficiency and sustainability. The Asia Pacific region is one of the largest and fastest-growing markets for COB LED technology, fueled by the region’s growing population, rising disposable incomes, and increasing demand for energy-efficient lighting solutions.

Key Players

The “Global Chip On Board (COB) Light Emitting Diode Market” study report will provide valuable insight with an emphasis on the global market including some of the major players of the industry are OSRAM GmbH, Samsung Electronics Co., Citizen Electronics Co., Everlight Electronics Co. Ltd., Seoul Semiconductor Co., Nichia Corporation, Lumens Co. Ltd., PerkinElmer, Citizen Electronics, and Tridonic.

Our market analysis offers detailed information on major players wherein our analysts provide insight into the financial statements of all the major players, product portfolio, product benchmarking, and SWOT analysis.

 Key Developments

• In January 2024, Samsung Electronics announced its launch of a new lifestyle display light up. This will help Samsung to expand its product portfolio.
• In October 2023, OSRAM GmbH announced the expansion of its LED retrofit lamp series. These lamps can be used for more than 200 vehicle models.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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