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Chip Scale Package (CSP) LED Package Market 2020 Global Analysis by Size, Share, Growth, Trends And Forecast 2023

Market Synopsis:

The Chip scale package (CSP) LED package market is also expected, as per the report, to reach a valuation of USD 1,807.5 Mn by 2023 up from USD 743.8 Mn in 2018.

Chip scale package LED package is an advancement in packaging LEDs and is preferred over traditional approach where a die is attached with interposer (ceramic substrate). Market Research Future MRFR)’s study unfolds that the global chip scale package LED market is poised to mark a robust CAGR of 19.4% across the evaluation period 2018 to 2023.

The manufacturing process of chip scale package LED offers cost-effectiveness as the chip is singulated using phosphor. The process eliminates several processes which help in bringing the overall cost down. This factor is anticipated to catapult the chip scale package LED market on upward trajectory for the next couple of years. It also ensures a higher preference over the traditional process by minimizing defective production.

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High package density is one of the primary factors anticipated to lead the proliferation of the chip scale package LED market in the years to come. Also, the adoption of the product in the automotive sector is projected to propel market expansion over the forecast period. Increasing applications in electrical & electronics industry are poised to multiply developmental opportunities in the market in the nearby future, thus catalyzing market growth.

Market Segmentation:

This MRFR report covers an in-depth segmental analysis of the global chip scale package LED market based on application and power range. On the basis of application, the market is segmented into general lighting, automotive lighting, backlighting unit (BLU), flash lighting, and others. Among these, the backlighting unit (BLU) segment is likely to dictate the growth of the market and hold the dominant position through the forecast period. Increasing demand for BLU in display systems such as TV, monitors, etc. is expected to drive the expansion of the segment in the years to come.

The segments of the chip scale package LED market, based on power range, are high power and low- and mid-power.

Competitive Dashboard:

Samsung Electronics Co., Ltd. (South Korea), Lumileds Holding B.V. (US), Semiconductor Co., Ltd. (South Korea), LG Innotek (South Korea), OSRAM Opto Semiconductors GmbH (Germany), Semileds Corporation (Taiwan), Epistar Corp. (Taiwan), Genesis Photonics Inc. (Taiwan), Cree, Inc. (US), and Lextar Electronics Corporation (Taiwan) are few of the noted participants of the global chip scale package LED market assessed in this MRFR report. These players are prognosticated to facilitate the expansion of the market in the forthcoming years by developing healthy growth strategies. Some of these strategies expected to be witnessed in the nearby future resulting in market growth are mergers & acquisitions, increasing investments, agreements, collaborations, and partnerships, among others. In addition, the increasing research & development projects undertaken by the market participants are anticipated to enable the proliferation of their technological capabilities. This, in turn, is poised to boost the competition in the global chip scale package LED market and lead to revenue growth over the next couple of years.

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Regional Analysis:

This study circulated by MRFR covers detailed geographical evaluation of the global chip scale package LED market on regional as well as a country-level basis. The regional segments of the global market, according to this assessment, are North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). Asia Pacific is expected to hold its position as the most prominent regional segment over the next few years. The growth of the electronics sale is prognosticated to be the driving factor of market growth in the forthcoming years. China is anticipated to emerge as the largest country-level market of the region by the end of the projection period.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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