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.