Packaged LED lighting revenue reached $6.6bn in 2014, with about 70% of that generated by sales of mid- to low-power LEDs, according to the latest data in the 'Packaged LED Report 2015' (part of IHS LED Intelligence Service).
The share taken by chip-on-board (COB) was 8%, despite the fact that only a small number of companies began promoting COB products just a few years ago. Citizen was the largest provider in 2014 with about 20% market share, followed by Cree with 15%. The COB market is forecast to increase at a compound annual growth rate (CAGR) of 20% from 2014 to 2020, as they are used to replace high-power LEDs in outdoor lighting applications. The high-end commercial market also shows potential for COB, adds the report.
The high-power LED market is still dominated by several international companies, including Cree, Lumileds and Osram. In fact, the top three suppliers collectively comprised 65% of the LED market in 2014.
In the mid- to low-power LED market, Nichia led, followed by Seoul Semiconductor and Samsung. This market sector is much more fragmented due to the number of Chinese companies competing. The largest Chinese packaged LED firm, MLS, had a 5% share of the market in 2014, following Samsung. Mid-power LEDs are more cost effective for indoor lighting and, with technology improvements, this category might also compete with high power LEDs in the future, reckons IHS.
