Chip Scale Package LED Market Size To Expand at a Notable CAGR Of 19.4% During 2024-2032

Pune, India, January 16, 2019/MRFR Press Release/— Market Research Future published a half-cooked research report on global Chip Scale Package LED market research report— forecast till 2032.

Market Highlights

Globally, the Chip Scale Package LED market is expected to have significant growth over the forecast period. The increasing need for smaller, energy-efficient, and high optical density LEDs in diverse lighting applications acts as the major driving factor for the growth of chip scale package LED market globally. The backlighting unit (BLU) is expected to dominate the market in terms of market size during the forecast size due to its high demand in electronic products, such as TV, monitor, and other display systems. General lighting and automotive lighting applications are expected to boost growth of the market in the upcoming years. However, its limited applications in the overall electronics industry acts as a major restraining factor for the market.

In this study, the chip scale package LED market is segmented based on application, power range, and region/country. By application, the market is segmented into backlighting unit (BLU), general lighting, automotive lighting, flash lighting, and others. By power range, the market is segmented into high power and low- and mid-power. Finally, the regions covered in this study are North America- US, Canada, and Mexico; Europe- Germany, France, the UK, and the rest of Europe; Asia-Pacific- China, India, Japan, and the rest of Asia-Pacific; and the rest of the world, which includes Middle East and Africa and Latin America.

Key Players:

The prominent players in Chip scale package LED market are Lumileds Holding B.V. (US), Samsung Electronics Co., Ltd. (South Korea), Semiconductor Co., Ltd. (South Korea), OSRAM Opto Semiconductors GmbH (Germany), LG Innotek (South Korea), Epistar Corp. (Taiwan), Cree, Inc. (US), Genesis Photonics Inc. (Taiwan), Semileds Corporation (Taiwan), and Lextar Electronics Corporation (Taiwan).

Regional Analysis

The global market for global chip scale package LED is estimated to grow at a significant rate during the forecast period from 2024 to 2032. The geographical analysis of the market is studied for North America, Europe, Asia-Pacific, and the rest of the world.

Asia Pacific is presumed to have largest contribution in the chip scale package LED market. China, Japan, India, Taiwan, and South Korea are the leading countries in the region. The region is considered as the most potential region in terms of development and adoption of chip scale package LEDs in the areas of smartphone and display systems. North America is anticipated to be the fastest growing region in the chip scale package LED market over the forecast period. The US and Canada are the leading countries in the North America chip scale LED market. The high growth can be attributed to the presence of many innovative semiconductor companies in the region that support boosting growth of chip scale LED products in the North America market.