Chip-on-Board LED Market - By Material (Metal Core Printed Circuit Board (MCPCB), Ceramic), By Application (Backlighting, Illumination, Automotive) & Forecast, 2024 - 2032

Chip-on-Board LED Market Size

Chip-on-Board LED Market was valued at over USD 2.2 billion in 2023 and is anticipated to grow at a CAGR of over 13% between 2024 and 2032. The integration of chip-on-board LEDs with smart lighting systems and Internet of Things (IoT) platforms is growing in the lighting industry. Smart chip-on-board LED products offer features, such as remote control, dimming, color tuning, and integration with sensors, for automated lighting control, energy savings, and enhanced user experience.
 

For instance, in April 2023, Sharp NEC Display Solutions Europe launched the NEC LED FC Series with chip-on-board technology, which offers high contrast, durability in public spaces, and high energy efficiency. Utilizing the already established F-style cabinets for easy setup and flexible usage, the FC Series benefits from front serviceability for all components, allowing easy access for maintenance.
 

With the rise of indoor farming and greenhouse cultivation, there is a growing demand for chip-on-board LED solutions catering to horticultural lighting applications and other related fields. These LEDs with specific wavelengths and spectral compositions provide optimal light conditions for plant growth, flowering, and fruiting across different stages of cultivation. They are environmentally sustainable lighting solutions, consuming less energy and producing fewer Greenhouse Gas (GHG) emissions compared to conventional lighting technologies.
 

Chip-on-board LEDs generate heat during operation, and effective heat dissipation is essential to maintain optimal performance and reliability. Managing thermal issues in these LED lighting fixtures becomes a challenging task, especially in applications with high ambient temperatures or limited ventilation. Inadequate heat dissipation can lead to decreased efficiency, color shift, and reduced lifespan of these LEDs, which raises concerns over reliability for manufacturers and end users.
 

Chip-on-Board LED Market Trends

The growing demand for specialty lighting applications in the retail and hospitality sectors reflects the importance of lighting design in shaping customer perceptions, boosting sales, and helping build brand loyalty. As businesses prioritize the creation of immersive and memorable experiences for customers, chip-on-board LEDs transform retail and hospitality environments with their versatility, energy efficiency, and aesthetic appeal. For instance, in July 2022, ViewSonic launches its first 4K UHD All-in-One Direct View LED display series boasting the COB LED packaging with flip chips. It offers the LED display an outstanding visual performance with 4K resolution, 20000:1 ultra-high contrast ratio, and a wider viewing angle of 170 degrees as well as enhanced reliability.
 

With the rising sustainability concerns, there is a shift toward smart and eco-friendly lighting options. Organizations are increasingly incorporating sustainable materials and eco-friendly manufacturing processes in chip-on-board LED products. This includes the use of recyclable materials, bio-based plastics, and non-toxic components to reduce environmental impacts throughout the product lifecycle. For instance, in September 2023, Dahua Technology launched its Dahua CH II Series fine pixel pitch indoor LED display, which provides visual clarity. Its surface luminescence provides softer, pixel-free illumination, which counters digital visual fatigue, and ensures uniform color from all viewing angles by perfecting ink color parameters, addressing and eliminating the industry challenge of batch ink color discrepancies.

Chip-on-Board LED Market Analysis

Based on the material, the market is segmented into MCPCB, and ceramic. The ceramic segment is anticipated to grow at a CAGR of over 13.5% between 2024 and 2032.
 

• With the advancements in phosphor technology and manufacturing processes, there's a growing demand for COB LEDs with high color-rendering index (CRI) and specific color points, allowing for better color accuracy and rendering in various lighting applications such as retail and hospitality. For instance, in April 2022 LED maker Lumileds LLC launched the LUXEON CoB Core Pro range. With a color point that is below the black-body locus and aligns with the color point of conventional (ceramic discharge metal halide) solutions, typical color-rendering index (CRI) of 92, R9 greater than 50, and typical luminous efficacy of 152lm/W (for a correlated color temperature CCT = 3000K, junction temperature Tj = 85C, 90CRI, and 15mm light-emitting surface), the new CoB range is targeted at retail and hospitality recessed and track lighting solutions.
   

Based on the application, the market is divided into backlighting, illumination, and automotive. In 2023, the backlighting segment dominated the market with a share of over 45%.
 

• With the rise of smart devices and IoT connectivity, there's a growing demand for intelligent backlighting solutions with advanced features such as dimming, color tuning, and dynamic control. COB LED modules with integrated drivers and control electronics enable seamless integration of smart lighting functionalities into backlighting systems. Manufacturers are incorporating COB LEDs with smart lighting capabilities to enhance user experience and meet the evolving demands of modern lighting applications. For instance, in March 2024, Advanced Illumination recently launched a new series of backlights, the BL2. This LED-based light source is designed for uniformity of light output, with 1 x 1-inch arrays of high-power industrial grade LEDs capable of high output strobe, positioned behind the emitter window. It has five available wavelength options, including white, 470 nm, 530 nm, 625 nm, and 850 nm. Collimation and polarization options are available.
   

Asia Pacific dominates the Chip-on-board LED market and is anticipated to sustain a robust CAGR of over 14.5% from 2024 to 2032. The region is witnessing rapid economic growth, and with expanding industries such as automotive, consumer electronics, healthcare, and infrastructure development, the demand for chip-on-board LED technology will escalate. The adoption of these LEDs in various applications including general lighting, automotive lighting, signage, and displays, ensures market growth. The increasing emphasis on energy efficiency, sustainability, and smart lighting solutions in Asia Pacific amplifies the adoption of chip-on-board LEDs across the residential, commercial, and industrial sectors, contributing to the expanding market landscape.
 

Chip-on-Board LED Market Share

OSRAM GmbH and Nichia Corporation hold a significant share of over 20%. OSRAM GmbH is a prominent global technology company specializing in lighting solutions and optical semiconductors. OSRAM is a leading provider of high-quality LED products & solutions including chip-on-board LEDs.
 

Nichia Corporation is a Japanese company that specializes in the manufacturing and development of LED products and materials. Nichia operates in the LED industry, focusing on innovation, quality, and reliability.
 

Chip-on-Board LED Market Companies

Major players operating in the market are:

• OSRAM GmbH
• Nichia Corporation
• Cree LED, Inc.
• ProPhotonix Limited
• Citizen Electronics Co., Ltd
• Samsung Electronics Co., Ltd
• Nichia Corporation
   

Chip-on-Board LED Industry News

• In June 2022, Cree LED, an SGH company, launched the XLamp Element G LEDs, delivering a new product class with high light output and efficiency for LEDs of this size. It offers high optical performance with increased precision and control.
   
• In September 2021, ProPhotonix Limited introduced COBRA Cure FX4, an addition to its range of UV LED curing systems. Using high-density chip-on-board LED arrays, the COBRA Cure FX4 delivers intensities up to 14 W/cm² and energy densities (dose) of up to 58 mJ/cm² without any compromise on lifespan. It comes in four wavelengths – 365nm, 385nm, 395nm, and 405nm. The product includes a wide 40mm window ensuring uniform UV light and maximum dwell time.
   

The chip-on-board LED market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

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Market, By Material

• Metal Core Printed Circuit Board (MCPCB)
• Ceramic

Market, By Application

• Backlighting
• Illumination
• Automotive

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA