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LED Driver Market Driver Analysis and Segmentation Forecast by 2022
The global LED driver market for lighting is expected to reach USD 24.98 Billion by 2022, at a CAGR of 26.3% between 2016 and 2022.
According to a new market research report "Led Driver Market for Lighting by Driving Method (Constant Current and Constant Voltage), Luminaire Type (A-Type, T-Lamps, Reflectors, Integral Modules), Components (Driver IC and Discrete), End User Application, and Geography - Global Forecasts to 2022", the total market is expected to reach USD 24.98 billion by 2022, at a CAGR of 26.3 % during the forecast period. Growing demand for LED lighting due to greater focus on energy savings within the general lighting applications is expected to drive the market.
Residential lighting is expected to lead the LED driver market for lighting end-user applications
Increasing demand for LED lighting by households for improving the energy consumption is driving the growth of the LED driver market for lighting in the residential sector. Outdoor & traffic has been one of the early adopters of LEDs; due to the huge electricity savings, they bring with respect to the investment. Outdoor & traffic lighting include roadway lighting, street lights, highway and tunnel lighting, and so on. The recent push by emerging economies such as India and China toward energy efficiency is the key factor for the growth of the LED driver market for outdoor & traffic lighting.
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The LED driver market for integral LED modules is expected to exhibit high growth during the forecast period
Integral LED modules have a single or a string of LED source which are integrated with the LED driver. The integral LED modules are being accepted as the most energy-efficient mode of lighting due to their relative ease of installation since they are pre-integrated with LED drivers. Most of the new installations of LED lighting systems are based on LED modules. LED modules can be used for a wide ranging applications covering residential, commercial, and outdoor & traffic lighting. The reason being LED lighting systems have a higher shelf life compared to traditional incandescent lights and also it’s highly cost-effective in the long term.
The market in the APAC region is expected to grow at the highest rate during the forecast period
The market in APAC is expected to grow at the highest CAGR between 2016 and 2022 because of the increasing penetration in the highly populated emerging economies such as India and China. The government and regulatory bodies in these countries have been encouraging the usage of LEDs for lighting to reduce the greenhouse emissions and also reduce overall energy bills.
The key players in the market are Osram GmbH (Germany), Harvard Engineering (U.K.), Texas Instruments, Inc. (U.S.), Maxim Integrated, Inc. (U.S.), Macroblock, Inc. (Taiwan), Atmel Corp. (U.S.), General Electric (U.S.), Cree, Inc. (U.S.), and Rohm Semiconductors (Japan).
The report analyzes the market trends for each of the segments and their respective growth rates. Apart from the market segmentation, the report also covers in-depth analyses such as Porter’s five forces analysis, value chain analysis with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges for the growth of the LED drive market for lighting. The report also provides a qualitative and quantitative description of the verticals considered for the market. It also gives a detailed view of the market across four geographic regions: North America, Europe, APAC, and RoW. The APAC is the largest market and also has been identified to grow at the highest rate, globally.
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