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CHIP-ON-BOARD LED Market Insights:
According to MRFR analysis, the global Chip-on-board LED market is expected to register a CAGR of ~18.10% from 2022 to 2030 and hold a value of over USD 5.2 Billion by 2030.
The chip-on-board LED market refers to the market for light-emitting diodes (LEDs) that are directly mounted onto a circuit board, without a separate package. Chip-on-board (COB) LEDs offer several advantages, including compact size, high energy efficiency, and better thermal management. The COVID-19 pandemic has had a notable impact on the chip-on-board LED market. On one hand, the increased focus on healthcare and sanitation measures during the pandemic has led to a rise in demand for LED lighting solutions in hospitals, healthcare facilities, and public spaces. The energy efficiency and long lifespan of COB LEDs make them suitable for such applications. However, the pandemic has also caused disruptions in the global supply chain, affecting the production and availability of COB LEDs. The closure of manufacturing facilities and restrictions on international trade have led to delays and shortages in the market.
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Key Players:
are the notable vendors in the CHIP-ON-BOARD LED market.
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CHIP-ON-BOARD LED Market Regional Analysis:
North America holds a significant share due to the widespread adoption of LED lighting solutions in various sectors, including residential, commercial, and automotive applications. Europe also plays a prominent role, driven by stringent energy efficiency regulations and the push towards sustainable lighting solutions. The Asia-Pacific region, particularly China, is a major market for chip-on-board LEDs, driven by the presence of key manufacturers and the growing demand for energy-efficient lighting. Additionally, the Middle East and Africa region is witnessing growth due to infrastructure development and government initiatives promoting energy-efficient lighting solutions. Latin America also presents opportunities for market expansion, driven by increasing urbanization and the need for efficient lighting technologies.
CHIP-ON-BOARD LED Market Segmentation:
The Global Chip-on-board LED market has been segmented into Material and Application
By Material: MCPCB and Ceramic
By Application: General Lighting, Backlighting and Automotive Lighting
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