The Chip Scale Package LEDs (CSP LED) market size is expected to reach USD 3,994.9 Million in 2028 and register a steady revenue CAGR of 18.0% over the forecast period, according to latest analysis by Emergen Research. Increasing demand for chip scale package LED from automotive sector to replace conventional technology headlights, rise in low thermal resistance, increased package density, and uniform current spreading for low droop are features that are driving adoption and fueling market revenue growth.
Rising demand for Chip Scale Package LEDs (CSP LED) in residential and commercial sectors is also driving market revenue growth. High luminescence provided by Chip Scale Package LEDs (CSP LED) is resulting in increasing deployment by construction companies. These products are also used across hospitals and banks, which has created fresh opportunities for players in the market. Absence of alternative for LEDs is another factor driving growth of the market.
The report also offers details about market size, market share, revenue growth, and CAGR during the forecast period of 2021-2028. The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
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The report also discusses the key players involved in the market such as LG Innotek, Lumileds, Seoul Semiconductor, Samsung Electronics, Cree, Nichia, Osram Opto Semiconductors, Genesis Photonics, Epistar, and Lextar Electronics. and others as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
Further key findings from the report suggest
- In November 2020, Harvatek Corporation launched a new LED product in chip scale package. The LED has low power dissipation and high brightness and as there are no wire bonding, processing time is also reduced. The product has several unique features such as flip chip technology, which means the chips in LED have low thermal resistance.
- High power segment accounted for a significantly larger revenue share in 2020 due to increase in demand for chip scale package LED in road lighting, high area lighting, and architectural lights. High powered LEDs are very efficient and used mainly for outdoor and industrial lighting.
- CSP LEDs are increasingly being used in automotive headlamps which require beam shape control and high intensity. Latest development in matrix headlights include chip scale package LEDs, which improve matrix resolution, improve driver vision, and enhance Advanced Front Light Systems (AFLS) along with cameras. Chip scale package LEDs are qualified to meet cooling process requirement, and as it does not have wire connection, LEDs are not damaged by vibration and offer longer service life.
Read more on the global Chip Scale Package LEDs (CSP LED) market report at: https://www.emergenresearch.com/industry-report/chip-scale-package-led-market
The report further segments the global Chip Scale Package LEDs (CSP LED) market on the basis of product types and applications and provides insights into key factors influencing the revenue growth of the segments.
Emergen Research has segmented the global Chip Scale Package LED market on the basis of power, application, end-use, and region:
Power Outlook (Revenue, USD Million; 2018–2028)
- Low Power
- Mid Power
- High Power
Application Outlook (Revenue, USD Million; 2018–2028)
- General Lighting
- Backlighting Unit (BLU)
- Flash Lighting
- Automotive Lighting
- Others
End-use Outlook (Revenue, USD Million; 2018–2028)
- Residential
- Commercial
- Industrial
Major Regions Covered in the Chip Scale Package LEDs (CSP LED) Market Report:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Reasons to Buy This Report:
- The report presents a thorough examination of the Chip Scale Package LEDs (CSP LED) market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
- The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
- The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
- The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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The post Chip Scale Package LEDs (CSP LED) Market Global Trend, Demand, Scope, Growth Analysis and Industry Forecast 2021 -2028 appeared first on Market O Graphics.
