Strategies Unlimited forecasts COB LED market to grow to $4.4B in 2020
May 16, 2015Urbanization, increasing infrastructure, and government initiatives are the factors resulting in increase in modern lighting products. Incandescent lighting turns out to be a very costly and poor medium of lighting source. This stirs the push to LED lighting. COB LED technology has emerged due to its features such as low power consumption, cost-effective lighting, and high intensity output. COB LED market contributes around 7 to 8% to the overall market for LED and is expected to reach around 20% in the near future.
The market for COB LED is still at the growing stage and has high potential to grow in future. The government’s support towards banning incandescent lighting and urbanization will lead to increase in the demand for COB LED lights. At present, pricing is the main hurdle for COB LED technology but that will also be resolved; as companies will achieve technology expertise and economies of scale; thereby making it more competitive with respect to conventional lighting. COB LED will be mainly preferred for illumination due to its high density and better color mixing.
In global market, APAC is the market leader in COB LED technology; both in terms of manufacturing companies and usage. China, Japan, and Taiwan are the main contributors to the overall market in it. It is followed by the U.S.; where urbanization and government’s support are driving the lighting market. Europe is close to U.S. It is where lighting is taking a toll due to increase in the usage of ultra modern lighting for hospitality industry and architectural lighting. Rest of the world caters to Middle East and Africa; where Dubai is the largest contributor to infrastructure and lighting.
This report deals with all the driving factors, restraints, and opportunities with respect to the COB LED market that is helpful in identifying trends and key success factors for the industry. The report does distinguish between traditional lighting source and COB LED technology on the basis of various aspects. It also profiles the various companies in the field of COB lighting, with their competitive landscape and strategies. The report throws light on the winning strategies and burning issues pertaining to the COB LED industry.
The global market is expected to reach $3.4 billion in 2016 at a CAGR of 38.5% from 2011 to 2016. Application market will be more inclined towards illumination in general lighting and is expected to reach to $2.9 billion in 2016 at a CAGR of 36.9% from 2011 to 2016.
Scope of the report
This research report categorizes the global COB LED market on the basis of applications and geography; it also covers the forecasting revenue and analyzing trends in the global COB LED market.
On the basis of application market
COB LED market is mainly segmented into four applications; namely: illumination, automotive, backlighting, and others. “Others” applications is further segmented into medical equipment and projectors. Here, illumination is further divided into various sub applications such as residential, commercial, architectural, hospitality, outdoor, and industrial. Automotive is further divided into interior automotive application and exterior automotive application; wherein exterior applications consist of headlamps, side lamps, rear lamps, and DRLs. Backlighting is further divided into LED television, handhelds, monitors, and screen display lighting.
These are the major applications on the basis of which market is divided and projected but it is expected that some more COB LED applications will be added in the COB LED portfolio in future.
On the basis of geography
North America, Europe, Asia-Pacific, and ROW are covered in the report.