|By Business Wire||
|January 6, 2014 02:24 PM EST||
Research and Markets (http://www.researchandmarkets.com/research/2v5ghh/global_chip_on) has announced the addition of the "Global Chip on Board LED Market 2014-2018" report to their offering.
The analysts forecast the Global Chip on Board LED market to grow at a CAGR of 40.71 percent over the period 2013-2018. One of the key factors contributing to this market growth is the declining ASP of LEDs. The Global Chip on Board LED market has also been witnessing the increasing demand of COB LED in general lighting applications. However, the fluctuating global economic conditions could pose a challenge to the growth of this market.
The key vendors dominating this market space are Citizen Electronics co. Ltd., Cree Inc., Nichia Corp., Osram Opto Semiconductors GmbH, Philips Lumileds Lighting Co., Samsung Electronics Co. Ltd., and Seoul Semiconductor Co. Ltd.
Other vendors mentioned in the report are Everlight Electronics Co. Ltd., Lumens Co. Ltd., and LG Innotek Co. Ltd.
Commenting on the report, an analyst from the team said: The shift from traditional lighting sources to solid-state lighting technology has resulted in the wider adoption of COB LEDs. COB LEDs are wide-area light emitters and thus, are increasingly used in highway and street lighting, which require large amounts of light spread across a large area. COB LEDs produce better color mixing, better lighting effect, and require very low thermal resistance systems, thereby enhancing the total consumer experience. Thus, greater power density, efficient heat dissipation, small space requirement, and high performance makes COB LEDs more suitable than conventional LED packages for various general lighting applications.
According to the report, one of the major drivers in the market is the declining ASP of LEDs. The huge decline in the ASP of LEDs is resulting in increased adoption of COB LEDs in various lighting application segments. Additionally, COB LEDs offers high intensity with a homogenous luminous field suitable for high-power LED applications, which also increases the potential for savings.
For more information visit http://www.researchandmarkets.com/research/2v5ghh/global_chip_on
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