A recent report published by Infinium Global Research on LED lighting driver market provides an in-depth analysis of segments and sub-segments in the global as well as regional LED lighting driver market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional LED lighting driver market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global LED lighting driver market. According to the report, the global LED lighting driver market is projected to grow at a CAGR of 9.3% over the forecast period of 2019-2025.
The light-emitting diode is a lighting device with small energy and it requires regulated power supply for good performance. The regulated power supply is provided by LED lighting drivers. LED lighting driver acts as a specialized power supply source for the LED. In the field of LED lighting, it is important to select a good driver for the long term performance of the LED. Further, it helps to save energy for the other works. For operating an LED module it always requires control gear which is called a driver. In the operation of the LED, current can only flow in one direction, which is in turns increase the internal temperature and again lead to a rise in current hence power uptake within the LED takes place, which further increase in temperature, failing to limit this vicious circle can lead to the destruction of an LED. For the prevention of this situation LED driver is used.
The factors such as the standard protocol for lighting control, IoT integration, growing demand for energy-efficient lighting systems and increasing adoption of LED lighting in general lighting application drives the growth of the LED lighting driver market. The global LED lighting driver market is expected to be dominated by the backlighting application segment. As in smartphones upgrading features like flexible displays and backlight additionally contributes to the growth of the backlight segment in the global LED lighting driver market. Further government initiatives for growing awareness about using cost-saving and energy-efficient lighting systems among the masses are increasing the LED lighting driver market. However, the high-cost setup and lack of awareness about the installation of LED drivers are the major restraining factor to the growth of LED lighting driver market in the short run. Moreover, continuously growing consumer awareness about energy-efficient products, innovative LED products offered by the industry for energy saving, and government initiatives for energy conservation are expected to boost the demand of the LED lighting driver market.
Geographically, the global LED lighting drivers market is segmented into North America, Asia-Pacific, and Europe. The Asia-Pacific is a large market player of an LED lighting driver. Owing to the growing demand for the energy-efficient lighting source for the long term performance in this region. Additionally, the government initiative to provide continuous electricity supply in the rural part of the countries is helping to grow the demand for the LED lighting driver market in this region. Further, the influx of MNC lighting companies in this region helping to grow the demand for the innovative LED lighting driver market.
The report on global LED lighting driver market covers segments such as supply type, application, and end-user. On the basis of supply type, the sub-markets include constant voltage, and constant current. On the basis of application, the sub-markets include lighting, outdoor display, automotive, and consumer electronics. On the basis of end-user, the sub-markets include industrial, residential, and commercial.
The report provides profiles of the companies in the market such as Harvard Technology Ltd, Mean Well Enterprises Co. Ltd., Cree, Inc, Delta Electronics, Osram GmbH, Signify Holding, Inventronics Inc., Texas Instruments, Maxim Integrated, and Tridonic GmbH & Co KG.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of LED lighting driver market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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