Market Overview
Market Research Future (MRFR), in its recently published research report, emphasizes that the global chip-scale package LED market is booming and expected to grow exponentially over the review period, recording a substantial market valuation from USD 743.8 million in 2018 to USD 1.8 billion by 2023, and a healthy 19.4% CAGR in the forecast period.
Drivers and Restraints
The main driving factors for the Chip Scale Package LED Market Size are low production cost and high package density. The CSP LED Market Analysis 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. Low application rate of the chip-scale package LEDs act as a major limiting factor for the market. Moreover, its restricted applications in the global electronics sector act as a major limiting factor for the market over the forecast period.
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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 CSP LED Market Analysis 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. China is anticipated to be the leading country in the Chip scale package LED market in the Asia Pacific region over the review period.
North America is projected to grow at the fastest rate over the review period. The region has the incidence of many advanced semiconductor companies that support boosting the growth of chip-scale LED products in the region. The US is the leading country in the North America region in terms of market share and this trend is projected to continue in the foreseeable future.
The European market for the CSP LED Market Analysis is anticipated to witness substantial growth over the review period, driven by the established IT and telecom sector in developed economies such as the UK, Germany, France, and the Netherlands. The market is likely to reach a stage of maturity over the review period, with steady growth in market value.
Segmental Analysis
The global CSP 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.
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).
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