Chip Scale Package LED Market Size USD 1.8 Billion by 2023 at 19.4% CAGR | COVID-19 Impact Analysis
- Chaitali Mahajan
- Feb 22, 2021
- 3 min read
According to Market Research Future (MRFR), the global chip-scale package LED market is expected to develop from USD 743.8 million in 2018 to USD 1.8 billion by 2023, with a CAGR of 19.4% from 2018 to 2023 (forecast period).
Drivers and Restraints
The most important dynamic factors for the chip scale package LED markets are low production cost and high package density. The chip-scale package LED market is driven by influential factors such as low-cost potential owing to the inadvertence of numerous packaging steps, small form factor with wide beam angle, and high package density and low thermal resistance and uniform current spreading boosts the market growth. The product is anticipated to witness a huge adoption in the automotive sector. The applications in general lighting are another huge opportunity for the chip scale package LED market to grow at a substantial rate in the upcoming years. On the other hand, the overload on LED foundries and restraint to premium products has a negative impact on the growth of this market in the present market scenario.
Segmental Analysis
The global chip-scale package LED Market is analyzed into application, and power range.
On the basis of application, the market is segmented into the backlighting unit (BLU), automotive lighting, general lighting, flash lighting, and others. In the applications segment, the backlighting unit (BLU) is projected to dominate the market in terms of market value over the review period due to its growing demand in electronic products, such as monitor, TV, and other display systems.
On the basis of power range, the market is bifurcated into high power and low- and mid-power.
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Competitive Analysis
The major market players operating in the global chip-scale packaging market as identified by MRFR are Samsung Electronics Co., Ltd. (South Korea), Lumileds Holding B.V. (US), OSRAM Opto Semiconductors GmbH (Germany), LG Innotek (South Korea), Semiconductor Co., Ltd. (South Korea), Epistar Corp. (Taiwan), Cree, Inc. (US), Semileds Corporation (Taiwan), Genesis Photonics Inc. (Taiwan), and Lextar Electronics Corporation (Taiwan).
Regional Analysis
The geographical analysis of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East, and Africa).
The Asia Pacific is projected to dominate the chip-scale package LED market over the review period. Asia Pacific region is considered as the most potential region in terms of expansion and implementation of chip scale package LEDs in the areas of smartphone and display systems. The region has massive potential for income generation in the chip-scale package LED market, mainly from the consumer electronics industry verticals.
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Major Highlights of TOC Covers:
Executive Summary
Key Business Trends
Regional Trends and Growth
Product Trends
End-use Trends
Definition and Forecast Parameters
Chip Scale Package LED Market Segmentation
Chip Scale Package LED Market Landscape
Vendor Matrix
Company Profiles
Business Overview
Financial Data
Product Landscape
Strategic Outlook
Continued…
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