Chip-on-Board LED Market Size, Trends, Growth and Forecast [2025-2032]

The "chip-on-board LED market" is experiencing substantial growth, with its global value reaching USD 2.95 billion in 2024 and expected to soar to USD 8.65 billion by 2032, driven by a healthy CAGR of 14.6% over the forecast period. The Asia Pacific region leads the sector with a commanding 40.68% market share in 2024, showcasing its dominance in LED manufacturing and technology adoption. The proliferation of energy-efficient lighting, progressive advancements in LED technologies, and the rapid integration of smart solutions are pivotal forces shaping this expanding landscape. As environmental sustainability and energy performance become central concerns across industries and governments, COB LEDs stand out for their uniform brightness, minimal power consumption, and versatile applications. Given their strategic importance, stakeholders and investors are positioning themselves to leverage upcoming opportunities in this rapidly developing market.

Market Overview & Key Insights

A chip-on-board (COB) LED consolidates multiple LED chips into a single module attached to a substrate, enhancing heat dissipation and delivering consistent, high-quality light. The global chip-on-board LED market is set for robust expansion, with projections highlighting USD 2.95 billion in 2024 and an anticipated USD 8.65 billion by 2032 at a 14.6% CAGR. Leading industry players driving innovation include Lumileds Holding B.V., EPISTAR Corporation, EVERLIGHT ELECTRONICS CO., LTD., Savant Systems, Inc. (GE Lighting), Lextar Electronics Corporation, Penguin Solutions (Cree LED), Luckylight Electronics Co., Ltd, Samsung Electronics Co., Ltd., NICHIA CORPORATION, and Bridgelux, Inc. The remarkable performance of Asia Pacific—capturing 40.68% of 2024’s share—is attributed to its strong manufacturing base, government incentives, and widespread urbanization.

Growth Drivers & Industry Trends

Key drivers fueling COB LED adoption encompass rising demand for energy efficiency, IoT integration, and increasing awareness of environmental sustainability. Notable trends include the application of generative AI to redefine LED design, maintenance, and manufacturing processes, leading to superior brightness, lower costs, and enhanced product differentiation. Technological innovation in thermal management, using advanced substrates and computational tools like CFD and FEA, plays a crucial role in market growth. The industry has adapted to shifting supply chains and changing tariff regimes, particularly during and after the COVID-19 pandemic, which impacted both costs and demand. Resilient market recovery and strategic partnerships have solidified the industry’s upward trajectory.

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Market Segmentation Analysis

Product segmentation highlights three primary categories: COB LED modules, arrays, and components. Of these, COB LED modules dominated the market share in 2024, largely due to their prevalence in residential and commercial lighting solutions. Arrays, with their higher chip density and light uniformity, are forecasted to achieve the highest CAGR, particularly in applications demanding high color rendering and compact design. Application segmentation reveals strong growth in general lighting, automotive lighting, and backlighting—the latter set to outpace others in CAGR, propelled by smart electronics and energy policies.

Segment

2024 Value (USD Billion)

2032 Forecast (USD Billion)

CAGR (2025-2032)

COB LED Modules

Dominant share

–

–

COB LED Arrays

–

Highest growth

–

Components

–

–

–

General Lighting

Largest 2024 share

–

–

Backlighting

–

Highest CAGR

–

Regional Analysis

Asia Pacific leads the global market, credited to robust manufacturing networks across China, Taiwan, Japan, and South Korea, as well as governmental programs promoting energy efficiency. China’s extensive public infrastructure projects and automotive partnerships continue to propel its market share. North America is poised for the highest CAGR through the forecast period, sparked by smart lighting strategies, stringent energy regulations, and sustainable building endorsements. Europe’s market expansion is driven by strict emission standards, increasing adoption in automotive and commercial sectors, and resilient semiconductor supply chains.

Competitive Landscape & Major Players

Major companies shape the marketplace through bold strategies such as acquisition, partnerships, and product development. Samsung Electronics, for instance, anchors its regional leadership with innovative product launches and partnerships throughout Asia Pacific. Bridgelux excels in street lighting applications, focusing on energy-efficient, high-brightness COB architecture. EVERLIGHT ELECTRONICS CO., LTD. advances thermal management and lighting design, boosting its presence across automotive and commercial segments. These enterprises leverage mergers, local sourcing, and R&D for sustained market dominance.

Market Challenges & Opportunities

While high initial manufacturing costs and supply chain uncertainties present challenges, breakthroughs in smart lighting, automotive integration, and generative AI-enabled design offer significant growth avenues. Actionable recommendations for leaders include investment in advanced manufacturing technologies and strategic collaborations to build resilience and capture emerging opportunities in smart cities and automotive solutions.

Conclusion

The chip-on-board LED market demonstrates spectacular growth potential, powered by technological advancement, strategic partnerships, and the global push for energy-efficient solutions. Stakeholders are encouraged to delve deeper into report findings to make informed decisions in an increasingly competitive and innovative sector, and are invited to download the full report for comprehensive analysis and actionable insights.