Valley Cottage, NY -- (SBWIRE) -- 01/24/2020 -- Chip-on-board light emitting diodes (COB LED) have several advantages over traditional lighting technologies such as increased thermal resistance, better lighting effect, larger cooling area and high light efficacy. Chip-on-board light emitting diodes also provide better color mixing which adds on to their wide range of industrial and commercial applications. Since the wide usage of COB LED, a variant of it has also emerged termed as multiple chip-on-board light emitting diode (MCOB). Though MCOB does not fulfill the standard lamp requirement for usage in spot light and floodlights, they are most efficient for low wattage situations like LED A19 bulbs.

Chip-on-Board Light Emitting Diodes Market: Drivers and Challenges

Chip-on-board light emitting diodes market is expected to grow at a positive rate due to urbanization and increased spending on infrastructure. Also, many lighting segments are preferring COB LED over other technologies such as incandescent lamp and CFL due to various benefits identified of making use of COB LED.

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In addition to this, constant technological advancements in design and cost saving through economies of scale are other driving factors of chip-on-board light emitting diodes market. The manufacturers of this technology are constantly focusing on finding new end use applications of chip-on-board light emitting diodes in order to expand the customer base of this market.

Uncertainties in the global economic condition can be a challenge which can slow down the growth of chip-on-board light emitting diodes market. Also, the manufacturing process of this technology is a bit complex as compared to its counterparts, which can also pose a threat for the demand of chip-on-board light emitting diodes market.

Chip-on-Board Light Emitting Diodes Market: Segmentation-

Segmentation on the basis of application:

Illumination
Automotive
Backlighting
Others

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Chip-on-Board Light Emitting Diodes Market: Recent Contracts/Deals

Chip-on-Board Light Emitting Diodes Market: Regional Overview

Chip-on-Board Light Emitting Diodes market is currently dominated by Asia Pacific region due to several initiatives taken by the government for adopting COB LED and large number of manufacturers of this technology, especially in China, Japan and Taiwan. North America and Europe chip-on-board light emitting diodes market is gaining traction due to usage of modern lighting across various industries. MEA region is also picking up pace, especially Dubai, owning to huge investments in infrastructure activities.