The global chip-on-board LED market size is expected to reach USD 7.21 billion by 2030, registering a CAGR of 14.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Chip on Board (CoB) LEDs are energy efficient, have greater reliability, and require less space. Furthermore, they offer high intensity and homogenous luminosity, which makes them suitable for high power applications. In recent times, the use of solid lighting technology against traditional lighting has significantly led to increased adoption of COB light-emitting diode (LED).

High demand for CoB LED owing to increased adoption by several lighting application segments to gain benefit over technologies such as CFL and incandescent lighting is also expected to positively impact the global CoB light-emitting diode market over the next six years. Furthermore, advancements in design and cost-saving through economies of scale are expected to provide significant growth opportunities for the market over the forecast period. However, the complex manufacturing process and high price coupled with fluctuating global economic conditions may be a challenge for industry participants.

Chip-on-Board LED Market Report Highlights

The COB LED modules segment accounted for the largest revenue share of 41.4% of the global industry in 2023. The high demand for these products in the residential sector is expected to assist this segment in growing at a rapid pace in the approaching years.The ceramic substrates segment dominated the market in 2023. Growth of this segment is attributed to the advantages offered by ceramic substrates over other materials, such as superior thermal conductivity, typically 10-100 times better than fiberglass-reinforced epoxy-laminated sheets, amount of heat, and better electrical performance.The illumination segment accounted for the largest market revenue share in 2023. This segment is further classified into residential, office space, industrial, shops, hospitality, outdoor, and architectural categories.Asia Pacific chip-on-board LED market dominated the global chip-on-board LED market and accounted for a revenue share of 44.1% in 2023. This is attributed to increasing COB LED production in South Korea and China, with the latter being a major hub for manufacturing organizations specializing in developing these products.The Middle East & Africa chip-on-board LED market is expected to experience the fastest CAGR of 16.0% during the forecast period.

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Key Chip-on-Board LED Company Insights

Some key companies involved in the chip-on-board LED market include Bridgelux, Inc, WOLFSPEED, INC., EPISTAR Corporation, EVERLIGHT ELECTRONICS CO., LTD., Lumileds Holding B.V. and others. To address growing competition in the industry, major market participants have adopted strategies such as increased research & development, enhanced innovation, new product launches, expansions in multiple application industries and more.

Bridgelux, Inc., a designer and manufacturer of energy-efficient and high-performance solid-state lighting solutions, offers various products in the COB LED segment, such as LED arrays under the VERO series, VERO SE series, Décor Series, V Series, and VESTA series. It also offers modules and subsystems under the VESTA and EB series, driver controls, and surface mounts. Bridgelux also develops application-specific LED chips for LED luminaires, such as signage boards, automotive components, and camera flashes for mobile devices.Epistar Corporation specializes in manufacturing high-brightness products used in LED lighting, LED backlighting, automotive applications, flash LEDs, surveillance LEDs, horticulture, and LED sensors. The company offers products under the AlGaInP Series, InGaN Series, PEC Series, and SWIR Series.

List of Key Players in the Chip-on-Board LED Market

Bridgelux, IncWOLFSPEED, INC.EPISTAR CorporationEVERLIGHT ELECTRONICS CO., LTD.SAVANT TECHNOLOGIES LLC (GE Lighting)Lextar Electronics CorporationLumileds Holding B.V.NICHIA CORPORATIONams-OSRAM AGSignify HoldingSAMSUNGSeoul Semiconductor Co., Ltd.

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