LED Driver Market Size - Top Trends, Drivers, Growth and Forecast to 2025
Category: #tech  By Partha Ray  Date: 2019-08-14
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LED Driver Market Size - Top Trends, Drivers, Growth and Forecast to 2025

One of the key challenges in the LED driver market is the cost of LEDs. These are currently expensive due to the initial capital cost involved compared to other lighting technologies. The initial cost is increased due to the increase in the price of each lumen used in LEDs. In addition, lumen gives relatively low output, which consequently adds to the cost of LEDs. Temperature is another factor, which hinders the LED driver market. The performance of LED mainly depends on the environment it is operating. In Industries, such as medical, military, and automotive, the devices are required to operate under different temperatures.

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The consumer electronics sector is the significant sector creating demand in the market. Smartphone manufacturers can use this technology in sleeker & compact devices while the increasing trend of backlights in laptops & tablets is further contributing to industry growth. The LED driver market is also driven by one of the factors in lighting technology, which is the soothing effect. For this reason, it has been extensively used in general lighting in hospitals, residential, outdoor lighting, and shops. This factor has become one of the major drivers in creating demand in the commercial lighting sector.

The LED driver market is also driven by the automotive industry, assessing the need for increased safety. Due to the ease of control, LEDs are proving to be an important driver of this industry. The use of Intelligent lighting system is high by manufacturers due to its self-adjusting properties in different environments. This has proved beneficial for car manufacturers to adopt this technology so that it can adjust to the car’s environment. The automotive industry is making use of lighting technology in applications such as opening & closing of doors, parking lights, backlighting, and interior lighting.

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With the increasing use of lighting technology in industrial, residential, commercial, and consumer electronics, the Asia Pacific region is projected to hold the largest market share owing to the increasing use of lighting technology products, thereby creating a demand in the LED driver market. Devices, such as smartphones, laptops, TVs, are majorly using this technology due to increased efficiency and less power consumption, which eventually require less cost.

The prominent players in the LED industry, such as Osram GmbH, Cree Inc., Honeywell, Philips, and General Electric, are focusing on new innovations and product development strategies owing to the growing competition in the LED driver market. These companies are investing heavily in research & development to develop new technologies for various industries such as consumer, industrial & commercial electronics, automotive, medical, and military sectors

Methodology used in the LED driver market Report –

Our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the LED driver market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:

  • LED driver market definition and scope of research
  • Market dynamics, growth drivers and industry pitfalls
  • Regulatory and political guidelines for the led driver market
  • Demographics and statistical data

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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