The report forecasts the global light emitting diode (LED) packaging equipment market to grow at a CAGR of 1.51% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend which is boosting market growth is the emergence of COB technology. COB is a type of bare chip technology used for LED lighting. The lighting module for a COB LED is done by placing multiple LED chips in a small area. It is a comparatively new technology for LED packaging, and it involves multiple LED chips being mounted directly on the substrate to make an LED array in one lighting module.
According to the report, a key growth driver is the demand for enhanced display functionality in devices. The changing lifestyle requirements from developing nations are mainly attributed to the following factors, which have increased the demand for mobile computing and consumer electronic devices:
Increase in per capita income
Increased exposure to the internet
Majority of population comprising millennials
Further, the report states that one challenge that could restrict market growth is the cyclical nature of the semiconductor industry.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?