The global LED driver market to grow at a CAGR of 8.39% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global LED driver market for 2017-2021. To calculate the market size, the report considers the sales of LED drivers to LED manufacturers and LED display manufacturers for automotive, general lighting, and backlighting applications. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Increasing government support and incentives for LED lighting projects. Global warming and the rapid depletion of nonrenewable energy sources highlight the indispensable need for energy conservation. Currently, it is estimated that lighting applications account for more than 20% of the global electricity consumption. This high consumption has forced several countries to frame policies that ban the use of inefficient lighting sources and that promote the use of efficient lighting sources through subsidies and tax incentive programs. These incentives are offered by different governmental and non-governmental entities.
According to the report, one of the major drivers for this market is Increasing requirements for external LED drivers. A major challenge to the LED market is the increasing replacement costs in the case of any failure. The reinstallation of LEDs is a time-consuming task and is a highly expensive process. Such issues prevent users from adopting LED lighting. To prevent this, external LED drivers can be used. If an LED fails before its rated life span, it is usually because of the driver failure.
To overcome this, customers are now integrating external LED drivers into LED lights as they prolong the life of the LED. Moreover, it is a cost-effective technique. By adopting external LED drivers, the maintenance cost can be reduced as the LED need not be replaced. Thus, the increase in the demand for external LED drivers will fuel the growth of the global LED driver market during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is High cost of LED lighting. A major challenge to the growth of the global LED driver market is the high cost of LED lighting. The initial cost required to integrate LED lighting into buildings, complexes, and terminals is very high. This prevents several end-users, such as real estate firms and airport construction companies, from integrating LEDs. These end-users prefer traditional lighting sources to LEDs as they have a lower initial cost.
- AC Electronics
- Microchip Technology
- GENERAL ELECTRIC
- Maxim Integrated
- ON Semiconductor
- Texas Instruments
Other prominent vendors
- Harvard Technology
- Lutron Electronics
- NXP Semiconductors
- Philips Lighting
- Power Integrations
- ROHM Semiconductor
- Skyworks Solutions
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Product Type
Part 07: Market Segmentation By Application
Part 08: Geographical Segmentation
Part 09: Key Leading Countries
Part 10: Decision Framework
Part 11: Drivers And Challenges
Part 12: Market Trends
Part 13: Vendor Landscape
Part 14: Key Vendor Analysis
Part 15: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/vkwchb/global_led_driver?w=5
Research and Markets
Laura Wood, Senior Manager
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