LED Driver Market Research Report (2020-2025) Provides In-Depth Analysis by Scope, Growth Rate, Driving Factors, Competitive Situation, Top Manufacturers and Upcoming Trends. LED Driver Market report split global into several key Regions which mainly includes Market Overview, Table of Content, List of Figures and Applications. LED Driver Market Growing at Higher CAGR Rate of XX% between (2020-2025).
Summery:-
The global LED driver market size accounted for USD 4.07 billion in 2018 and projected to grow at 16.3% CAGR over the forecast period, from 2019 to 2025. Technologically advanced solution in LED lighting has improved performance and efficiency, which is expected to drive the LED drive demand during the forecast period. In addition, increasing the adoption of LED lighting across various applications like automotive, horticulture, industrial, and outdoor has resulted in increases demand for products.
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The key driving factors responsible for the growth of LED Driver market :
Several initiatives taken by governments across the globe for smart city projects are boosting IoT based LED lighting solution. Several countries have installed smart street lights that turn on & off automatically by using a daylight sensor. This initiative is expected to boost the demand for the market.
However, manufacturers are facing some challenges such as lack of certain industry-defined standards to check the behaviors and characteristics of products. LED driver and Solid-State Lighting (SSL) follow their standards during manufacturing which led to a lack of interoperability in end-use applications.
Supply Type Insights
By supply type, the market is segmented into constant voltage and constant current. In 2018, constant current type dominated the global market and expected to retain its position over the forecast period.Constant current products are used in several applications as they have the ability to form uniform brightness, clear display, and offer more control.
The constant voltage products are widely used in an application that needs multiple LED lights to be connected in series. This product distributes voltage similarly and helps to provide equal luminance.
Application Type Insights
Based on the application type, the light-emitting diode driver market is segmented into automotive, lighting, consumer electronics, and outdoor display. Increasing replacement of traditional light sources such as incandescent and CFL is driving the demand for LED lights, thereby expected to boost the demand for LED drivers. The consumer electronic application segment is projected to hold the largest market share during the forecast period due to the rising adoption of LED TVs, smartphones, and tablets in emerging countries. LED screens are gaining traction across the globe due to its better picture quality, low power consumption, and high colour accuracy. Moreover, LED drivers are also used in other electronic devices such as air conditioners and refrigerators for display panels, which is expected to drive the demand for LED drivers in consumer electronics applications.
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Table of Contents:-
- LED Driver Market Overview
- LED Driver Market Competition by Manufacturers
- LED Driver Market Production, Revenue (Value) by Region (2014-2025)
- LED Driver Market Supply (Production), Consumption, Export, Import by Regions (2014-2025)
- LED Driver Market Production, Revenue (Value), Price Trend by Type
- LED Driver Market Analysis by Application
- LED Driver Market Manufacturers Profiles/Analysis
- LED Driver Market Manufacturing Cost Analysis
- LED Driver Market Industrial Chain, Sourcing Strategy and Downstream Buyers
- LED Driver Market Marketing Strategy Analysis, Distributors/Traders
- LED Driver Market Effect Factors Analysis
- LED Driver Market Research Findings and Conclusion
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