Chip On Board LED Market Seen Soaring 14.1% Growth to Reach USD 9,552.2 Million by 2032, Projects Univdatos Market Insights
- Vikas Kumar
- October 16, 2024
- ELECTRONICS & SEMICONDUCTOR, NEWS
- 0 Comments
Key Highlights of the Report:
- Energy Efficiency: Increase in energy conservation requirements that have led to more stringent energy laws as well as the call for sustainable construction.
- Technological Advancements: Advancements in thermal components, colour tint, and chips improve the efficiency and durability of chip on board LEDs.
- Compact Design: COB LEDs provide high lumen from small size packages, suitable for applications where high intensity and compact size are needed.
- Cost-Effectiveness: COB LEDs are gradually proving to offer more value for money when the costs of power usage, and product replacement due to earlier failures, are considered.
- Growing Adoption of Smart Lighting: Through the means of IoT compatibility and connectivity to smart lighting systems, smart homes are using more COB LED systems.
- Government Policies and Environmental Awareness: Global regulations and environmental concerns are acting as a catalyst in the use of eco-friendly lighting, boosting the COB LED adoption.
According to a new report by Univdatos Market Insights, the Chip On Board LED Market is expected to reach USD 9,552.2 Million in 2032 by growing at a CAGR of 14.1%. The scope for the COB LED market is growing at a striking pace as more extant industries and up-and-coming ventures seek brighter and more efficient lighting solutions in general, automotive, and backlighting categories. COB LEDs highlight high lumen output, excellent thermal systems, smaller sizes, and wide acceptance in energy strategic industries. The market growth is fueled by increased compliance with international standards and legislation on the emission of Greenhouse gases as well as the promotion of green energy standards. Progress in technology makes it easy for smart city infrastructures to apply the use of COB LEDs in various applications.
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China, India, and the United States have emerged as the strongest geographic markets that can spearhead growth in the COB LED market owing to effective government policies encouraging energy-efficient systems. In China, smart city and environmental conservation strategies are active in the COB LEDs market, and in India, subsidies for LED use in both urban and rural societies are promoting market growth. The environmental policies in North America and Europe insist on energy conservation, which boosts COB LEDs into important parts of future city layouts.
Energy Efficiency
Energy efficiency is the key factor that reigns the COB LED market as energy use is a focal point in the current world developments. COB LEDs are developed for greater luminous efficacy than traditional lighting technologies, meaning homes and businesses can illuminate their space similarly for less energy. This in the long run cuts costs, reduces carbon increment, and is, therefore, an ideal choice for the municipal, corporate, and residential detached entities.
Technological Advancements
From year to year, there are improvements in the characteristics of COB LEDs due to their progressive modifications. Enhancements like better thermal management, greater CRI, and longer life cycles have made COB LEDs the best choice for high-end illumination. Such developments allow COB LEDs to work well in high-temperature applications and offer voters lighting with high-quality fit for automotive and commercial use.
Recent Product Launch: In April 2023, Sharp NEC Display Solutions Europe is launching the NEC LED FC Series with Chip on Board (COB) technology that impresses with high contrast, excellent durability in public spaces, and superb energy efficiency. Displaying deep blacks and extreme contrast levels of up to 20,000:1, content appears dramatically vivid for a remarkable imaging performance and the best possible viewing experience in any ambient light conditions. The Sharp/NEC COB technology is highly energy efficient, generating a brighter output at reduced power usage, consuming around 40% less power compared to standard SMD LED technology. Providing excellent durability, the FC Series is robust against external influences, making it suitable for use in indoor public spaces such as transport terminals, museums, and leisure venues, or for corporate applications. The smooth, dustproof surface can be wiped clean and is resistant to water drops.
Growing Adoption of Smart Lighting
New innovations such as smart homes and smart cities have heavily fuelled the sales of COB LEDs. These LEDs can be easily incorporated into smart lighting solutions, including features such as remote, dimming, or switching the color. As a result of the IoT technology enhancement, smart lighting is gradually becoming an integral part of home and commercial use, making the required optimal lighting or COB LEDs more sought-after.
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Conclusion
In sum, therefore, it can be concluded that multiple and closely interlinked factors are responding to the COB LEDs growing market around the world. The increase in demand for energy-efficient lighting solutions due to sustainability measures is empowering cities and firms to use COB LEDs because they are efficient and cost-effective. New technologies are also enhancing the applicability of the Group III COB LEDs, making them suitable for high-end and challenging applications including automotive use. Additionally, the growing trend towards smart lighting in homes and urban areas, like Barcelona’s smart city initiative, showcases the versatility and efficiency of COB LEDs in integrating with IoT systems to create sustainable, adaptive lighting solutions. Together, these factors underscore COB LEDs as a crucial technology in the future of energy-efficient and smart lighting solutions across industries and regions.