Growing Prominence of Energy Efficient Lighting & the Ensuing Rapid Penetration of LED Lighting Technologies to Benefit Demand for COB LEDs
The global market for COB LEDs is projected to exceed US$29.9 billion by 2024 , driven by rapid penetration of LED lighting supported by energy efficient and smart lighting solutions and myriad benefits of COB LEDs that gives it an edge over standard LEDs. Chip-on-board (COB) LEDs are expected to significantly increase the value proposition of LED lighting by facilitating reduced energy consumption and increased savings through improvements in quality, productivity and safety of offices, homes, retail stores, commercial spaces, hotels, and entertainment places. COB LEDs today are the preferred choice for lighting supported by its appropriate thermal path for regulating the LED’s junction temperature and its superior luminous output. The chip-on-board (COB) technology represent the next generation of solid state lighting (SSL) and is one of the fastest growing technologies in the global lighting market enabling the easy and fast way to LED lighting. COB LED luminaries offer high effic...