LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the chip-on-board (COB) LED market in APAC 2016-2020 is expected to grow at a CAGR of approximately 35% during the forecast period.
This research report titled ‘Chip-on-Board LED Market in APAC 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The report categorizes the chip-on-board LED market in APAC into three major end-user application segments. They are:
- General lighting
- Automotive lighting
COB LED in general lighting segment
The COB LED market in general lighting segment in APAC will generate more than USD 3.6 billion by 2020, growing at a CAGR of over 40% during the forecast period. According to Asif Gani, a lead analyst at Technavio for embedded systems research, “The COB LED market in the general lighting segment in APAC is growing significantly due to urbanization and growing infrastructure. Governments of many countries in the region are implementing strategic initiatives and regulations to increase the adoption of COB LEDs to reduce electricity consumption.”
Private and public infrastructures that consume more electricity are guided to use energy-efficient lighting systems. The aforementioned factors, along with the benefits such as wide-area light scattering properties, reduction of uncomfortable glare, low thermal resistance, and long lifespan of COB LEDs, have significantly increased the adoption of these lighting systems.
Furthermore, the ban on high power-consuming incandescent lights in many countries of the region, along with inadequate power supply, will contribute to the growth of the market for COB LEDs in APAC.
COB LED in automotive lighting segment
The market for COB LEDs in the automotive lighting segment in APAC is expected to generate approximately USD 566 million by 2020, growing at a CAGR of close to 14% during the forecast period. COB LEDs for automobiles are mainly available in the aftermarket. Lack of consumer awareness regarding these lighting systems limits the overall sales of these products in the segment. Moreover, the wide-area light scattering property of COB LED lighting systems limits their adoption to fog lights whereas, headlights, spotlights, and flashlights of automobiles require small-area light emitters. The growing demand for COB LEDs for fog lights will boost the revenue of the market slightly.
COB LED in backlighting segment
The COB LED market in the backlighting segment in APAC is expected to reach USD 1,252 million by 2020, growing at a CAGR of more than 37% during the forecast period. The market for COB LEDs is shrinking in favor of OLED systems by most manufacturers. Greater quality and viewing angle of these systems are the foremost factors driving the adoption in the backlighting segment. These lighting systems are used in the manufacture of OLED displays for TVs and mobile devices.
“Though OLEDs are more efficient, they are costlier and have a shorter lifespan when compared with COB LEDs. This limits their application in general and high-power purposes. LED manufacturers in South Korea and Japan are investing considerably in developing OLED lighting systems that can overcome these drawbacks,” says Asif.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Citizen Electronics
- Samsung Electronics
- Seoul Semiconductor
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