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Oct 6, 2020 2:00 PM ET

Global Chip Scale Package (CSP) LED Market Is Anticipated To Reach Around USD 2,010 Million By 2024

iCrowd Newswire - Oct 6, 2020

Zion Market Research  has published a new report titled “Chip Scale Package (CSP) LED Market by Power Range (Low to Medium and High), by Application (Backlighting Unit (BLU), General Lighting, Automotive, Flash Lighting, and Others), and by End-User (Residential, Commercial, and Industrial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024’’. According to the report, the global chip scale package (CSP) LED market was valued at around USD 620 million in 2017 and is expected to reach approximately USD 2,010 million by 2024, at a CAGR of slightly above 18.3% between 2018 and 2024.

CSP stands for chip scale package. The CSP technology not only reduces thermal dissipation but also facilitates size and cost reductions. The most crucial challenge faced by LED manufacturers is reducing power loss that occurs in form of heat. Numerous LED manufacturers are opting for CSP technology, which facilitates size reduction by directly attaching the LED on the PCB board. Thus, smaller, thinner, and lighter LEDs are trending worldwide.

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Currently, to enhance the efficiency and efficacy, the CSP technology is implied in diversified applications including automotive lighting, flash LED, general lighting, and backlight LED. The CSP technology is used in flashlight applications for smartphone cameras, which, in turn, is likely to drive the chip scale package (CSP) LED market in the years ahead. According to Gartner, there were around 366.59 million smartphone users in the year 2017. By 2021, 40% of the global population is anticipated to own a smartphone. However, the limited availability and underdeveloped technology might hamper the chip scale package (CSP) LED market growth in the future. Manufacturers are opting for GaN on Si LED die which not only improves CSP LED’ thermal performance but also enhances the overall product reliability. Furthermore, the increased adoption of CSP LEDs for general lighting applications is anticipated to create lucrative opportunities for the market players.

Global Chip Scale Package (CSP) LED Market

The chip scale package (CSP) LED market is categorized based on power range, application, and end-user. By power range, the market is bifurcated into low to medium and high. Globally, the automotive lighting sector is opting for high powered CSP LEDs, which is anticipated to drive the high powered CSP LED segment in the future. CSP LEDs are diversely implied in numerous applications majorly segmented into Backlighting Unit (BLU), general lighting, automotive, flash lighting, and others. Flash lighting segment holds the significant market share as CSP LEDs are immensely preferred by Smartphone manufacturers worldwide. The end-user segment includes residential, commercial, and industrial. The commercial segment is likely to hold the largest market share in the upcoming years, due to increased product demand, especially in the general lighting and flash lighting domains.

Geographically, the chip scale package (CSP) LED market is majorly categorized into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America is projected to hold a substantial market share in the years ahead, owing to the increased CSP LEDs demand in the region.

Some key players of the chip scale package (CSP) LED market are Samsung, Lumileds, Seoul Semiconductor, Nichia, Cree, Genesis Photonics, LG Innotek, Lumens, and OSRAM, among others.

This report segments the chip scale package (CSP) LED market into:

Chip Scale Package (CSP) LED Market: Power Range Analysis

Chip Scale Package (CSP) LED MarketApplication Analysis

Chip Scale Package (CSP) LED Market: End-User Analysis

Chip Scale Package (CSP) LED MarketRegional Analysis

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Keywords:    Chip Scale Package (CSP) LED Market

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