Chip-on-Board LED Market - By Material (Metal Core Printed Circuit Board (MCPCB), Ceramic), By Application (Backlighting, Illumination, Automotive) & Forecast, 2024 - 2032

Global Chip-on-Board LED Market will observe a CAGR of over 13% from 2024 to 2032 due to the innovative products introduced by leading companies. COB LEDs, known for their high brightness and compact design, are becoming increasingly popular in industries such as automotive, electronics, and lighting. For instance, in May 2024, Unilumin Group introduced a comprehensive LED display solution, the UTV SC COB Series. This series used chip-on-board soft-light source technology and blue-light certification to reduce optical strain, making them ideal for the long term.

Major manufacturers are investing heavily in R&D to come up with new COB LED solutions to meet the evolving needs of consumers and businesses. Furthermore, increasing emphasis on energy efficiency and sustainability is driving the adoption of COB LEDs in lighting applications worldwide. As a result, the market is set to expand significantly in the coming years.

The overall Chip-on-Board LED industry size is classified based on material, application, and region.

The MCPCB segment will witness commendable growth from 2024 to 2032. MCPCBs provide excellent temperature, which is important for the performance and longevity of COB LEDs. The popularity of COB LEDs in various industries, such as automotive, consumer electronics, and general lighting, is supporting the demand for MCPCB products. These features enhance the performance and reliability of COB LEDs, making them desirable for applications requiring high light and compact resolution.

The Chip-on-Board LED market share from the illumination segment will register an appreciable CAGR from 2024 to 2032. COB LEDs offer high brightness and uniform light distribution, making them ideal for lighting purposes, including residential, commercial, and outdoor lighting. Their compact size and energy efficiency contribute to their popularity as lighting solutions. With increasing focus on energy conservation and sustainability, COB LEDs are becoming the way to go for more efficient and sustainable lighting systems. As a result, the demand for COB LEDs in the illumination industry continues to grow.

North America Chip-on-Board LED market will exhibit a significant CAGR from 2024 to 2032. The region highlights increasing emphasis on energy efficiency and sustainability, as well as government policies that encourage the growth of LED application fuel market demand in the region.

The versatility of COB LEDs and their performance make them increasingly popular in a variety of applications, including automotive, residential, and commercial lighting. Since North America is witnessing a shift towards more environmentally friendly and energy-efficient lighting solutions, the demand for COB LEDs will continue to grow, leading to market expansion in the region. For instance, in May 2024, South Dakota-based Daktronics introduced its Flip-Chip COB (Chip On Board) LED display technology to the world. This latest innovation in its Narrow Pixel Pitch products ensures durability, reliability, and low power consumption, improving the overall customer experience.