Chip On Board (COB) LED Market to Witness a Pronounce Growth During 2023 To 2032. Market Research Future Insights According to MRFR analysis, The global Chip On Board LED market size was valued at $5.2 Billion by the end of the forecast period registering a CAGR of 18.10%. Chip On Board LED is an LED packing technology where multiple LED chips are bonded directly on a substrate. The small size of the LED chip offers high packaging technology compared to other technologies. Chip On Board LED is the latest technology. Here, the manufacturers bond LED chip diodes into the PCB, which causes thermal conductivity to shift towards the circuit board, leading to lower heat emissions. LED lighting is more favored than other lighting sources, and it is contributing highly to the Chip On Board LED market growth. Additionally, increasing demand and adoption of COB LED lights in industrial, commercial, and residential applications greatly contribute to the expansion of the Chip On Board LED market size. The automotive industry uses Chip On Board LED for vehicle lighting, and the electronics industry uses it for backlighting in monitors, smartphones, tablets, Panels, monitors, etc., the wide range of applications of Chip On Board LED will further drive the demand for the Chip On Board LED industry in the forecast period. Additionally, the increasing focus on governments worldwide to use energy-efficient lighting has increased the demand for LED lighting. Chip Board LED light offers high light efficiency, reduced power requirements, better thermal management, and lesser solder joints that reduce the risk of performance loss. All these factors contribute highly to the Chip On Board LED market growth. Request Free Sample - https://www.marketresearchfuture.com/sample_request/7030 Regional Analysis The geographical analysis of Chip-on-board LED market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the regions mentioned, Asia-Pacific is expected to dominate the Chip-on-board LED market during the forecast period owing to largest share in terms of manufacturing and usage. Countries such as Taiwan, South Korea and China are contributing to the major share of the market due to the presence of a large number of vendors in these regions. Some of the major providers of chip-on-board LED such as Citizen Electronics, Seoul Semiconductor and Samsung Electronics are based out of Asia-Pacific and also have a huge customer base within the region as well as across the globe. China is expected to experience high growth during the forecast period due to continuous government efforts such as subsidies and incentives in the region to boost domestic production capacity. North America is the second dominating region in the Chip-on-board LED market followed by Europe due to high number of installations in retail and automotive lighting. Also, the rising investment in infrastructure and rapid technological advancements is expected to drive the growth of chip-on-board LED in these regions Key Players Citizen Electronics Co. Ltd. (Japan), Osram Opto Semiconductors GmbH (Germany), Cree Inc. (US), GE Lighting (US), Seoul Semiconductor Co. Ltd. (South Korea), Philips Lumileds Lighting Co. (Netherlands), Samsung Electronics Co. Ltd. (South Korea), LG Innotek Co. Ltd. (South Korea) Everlight Electronics Co. Ltd. (Taiwan), and Lumens Co., Ltd. (South Korea). Introduction: The global lighting industry is undergoing a profound transformation with the rapid growth of Chip On Board (COB) LED technology. This innovation is poised to revolutionize illumination solutions across various sectors, promising enhanced energy efficiency, brighter illumination, and greater design flexibility. The COB LED market has witnessed remarkable expansion in recent years, driven by its unique attributes that set it apart from traditional LED technologies. COB LEDs involve the direct mounting of multiple LED chips onto a single substrate, resulting in a more compact and integrated lighting solution. This design enables better thermal management, higher light output, and improved color consistency, making COB LEDs an ideal choice for a wide range of applications. Browse Detailed Report On - https://www.marketresearchfuture.com/reports/chip-on-board-led-market-7030 Related Reports Optical Transceiver Market - https://www.globenewswire.com/news-release/2023/05/09/2665119/0/en/Optical-Transceiver-Market-Size-to-Reach-USD-27-13-billion-at-a-15-3-CAGR-by-2030-Report-by-Market-Research-Future-MRFR.html Wearable Technology Market - https://www.globenewswire.com/en/news-release/2023/05/12/2668263/0/en/Wearable-Technology-Market-is-Projected-to-Reach-USD-410-2-Billion-at-a-31-20-CAGR-by-2030-Report-by-Market-Research-Future-MRFR.html