Global LED Driver Market by Supply Type, Application, End-user and Region - Forecast to 2023: Set to Record a CAGR of 18.1% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 14, 2019--The “Global LED Driver Market Share - Segmented by Supply Type, Application, End-users, and Region - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The global LED driver market is expected to register a CAGR of over 18.1% during the forecast period 2018-2023.
LED drivers are finding their applications in automotive, LED displays, and smartphone back lighting. In automotive lighting LED is the most trending lighting technology, which is gradually being adopted, majorly in luxury and premium segment vehicles.
The growing concerns on vehicular safety has driven many countries to come up with stringent lighting regulations that require a specific brightness or temperature of the headlamps. These concerns are increasing the focus of automotive manufacturers on LED drivers. The emerging trends, such as development of visible light communication (VLC) LED drivers and development of color tunable LED drivers have a direct impact on the LED driver industry.
The favorable government policies and energy-saving capabilities of the LED drivers is driving the growth of the market, while lack of awareness about the benefits of the technology and the high replacement cost in case of failure is restraining the growth of the market.
Favorable Government Policies are Driving the LED Driver Market
The increasing industrial development and population growth have led to a surge in global demand for energy in the recent years. The decreasing amount of resources and increasing demand for energy led to energy crisis over the world. To overcome this crisis, the governments of various countries have passed regulations on energy consumption, which state the use of energy saving consumer electronics. The regulations have enabled the manufacturers to invest in energy saving consumer electronics.
Since an LED driver is an energy saving device, the government policies have a positive impact on the LED driver market. To give a start to the energy saving techniques the governments of various countries have started using LEDs and LED drivers in general lighting areas, such as streets, roads, and other public places, which rose the growth of the market. The various policies of governments on tax exemptions on Led devices has increased the LED penetration in various countries.
Asia-Pacific to Be the Major Region over the Forecast Period
Asia-Pacific has seen a significant growth in the LED driver market and is expected to witness a highest growth over the forecast period. The economic development and government policies due to rapid urbanization in the emerging countries has led to high usage of LED lighting. The fall in LED prices due to increase in investments by companies in expanding production facilities has resulted in a significant growth of the LED driver market in Asia-Pacific.
The rapid urbanization and changing life styles of people have also resulted in increase in the penetration of Led lighting in automotive, building, and construction industries. The compatible size and aesthetic look has drawn attention of people with high standards, which resulted in a significant growth in the adoption of LED drivers. Countries, like China, India, Japan, and South Korea are contributing a major share in the region.
2. Research Approach and Methodology
3. Executive Summary
4. LED Driver Market Insights
4.1 LED Driver Market Overview
4.2 Industry Value Chain Analysis
4.3 Factors Driving the LED Driver Market
4.3.1 Favorable Government Policies for Energy Efficiency
4.3.2 Cost-effectiveness and Energy-saving Capabilities
4.4 Factors restraining the LED Driver Market
4.4.1 Lack of Awareness about the benefits of the technology
4.4.2 High Replacement Cost in Case of Failure
4.5 Industry Attractiveness - Porter’s Five Industry Forces Analysis
4.6 Technology Snapshot
5. Global LED Driver Market Segmentation
5.1 LED Driver Market By Supply Type
5.1.1 Constant Current
5.1.2 Constant Voltage
5.2 LED Driver Market By Application
5.2.1 General Lighting
5.2.2 Automotive Lighting
5.2.4 Other Applications
5.3. LED Driver Market By End-users
5.4. LED Driver Market By Region
5.4.1. North America
5.4.4. Middle East & Africa
5.4.5. Latin America
6. LED Driver Market Competitive Intelligence - Company Profiles
6.1 Texas Instruments Incorporated
6.2 Maxim Integrated Inc.
6.3 ROHM Semiconductor
6.4 ON Semiconductor
6.5 Osram GmbH
6.6 Toshiba Corporation
6.7 Power Integration
6.9 Microchip Technology
6.10 Taiwan Semiconductor Manufacturing Company Limited
6.11 Infineon Technologies
List Not Exhaustive
7. Investment Analysis of LED Driver Market
8. Future of Global LED Driver Market
For more information about this report visit https://www.researchandmarkets.com/research/dl4rp4/global_led_driver?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190314005384/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:LED (Light Emitting Diodes)
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 03/14/2019 07:49 AM/DISC: 03/14/2019 07:49 AM