LED lighting driver market size reached USD 7.62 Billion in 2020 and is expected to register a revenue CAGR of 15.2%, during the forecast period, Rapid LED lighting product penetration and increasing awareness regarding the various benefits of LED lighting products are some of the key factors driving global LED lighting driver market revenue growth. Increased LED adoption for usage in residential buildings, commercial shops, industrial uses, and traffic lights, among other applications, is expected to boost demand for LED lighting products. Increasing use of miniaturized LED drivers and increasing building and reconstruction activities in residential and non-residential sectors globally are expected to fuel market growth over the forecast period. In addition, rising development of programmable LED drivers is expected to augment market growth going ahead.
Emergen Research has published a novel research report titled, “Global Light Emitting Diode Lighting Driver Market Forecast to 2028”. The report sheds light on the current as well as upcoming market trends. The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Light Emitting Diode Lighting Driver market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
However, high set up cost of LED lighting drivers and lack of standardization are factors expected to hamper growth of the global LED lighting driver market to some extent over the forecast period.
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The report offers a complete analysis of the global Light Emitting Diode Lighting Driver market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as M&A acquisition, partnerships, joint ventures, license agreement and collaborations. Delta Electronics, Inc., Signify Holding B.V., TCI Telecomunicazioni Italia S.R.L., Lifud Technology Co., Ltd., ERP Power LLC, Mean Well Enterprises Co., Ltd., Tridonic GmbH & Co KG, Inventronics Inc., SELF Electronics Co., Ltd., and Eaglerise Electric & Electronic Ltd. are some of the top companies profiled in the report.
Some Key Highlights From the Report
DC/DC ICs segment revenue is expected to expand at a significantly rapid CAGR during the forecast period. DC/DC control systems and converters offer excellent reliability, fast frequency performance, low resistance, and high EMI performance, which are expected to drive growth of this segment.
Dimmable segment is expected to lead in terms of revenue over the forecast period owing to increased demand for dimmable LED lighting drivers. Dimmable LED lighting drivers save energy as power outputs require lesser energy usage.
Smart segment is expected to lead in terms of revenue over the forecast period owing to rising demand for smart LED lighting drivers. With the installation of gateways, smart LED lighting drivers are compatible with Bluetooth and Wi-Fi, which is expected to boost revenue growth of this segment.
Asia Pacific is expected to account for a larger revenue share than other regional markets. Steady economic growth and favorable government initiatives in countries in the region are driving demand for LEDs, which is expected to drive growth of the market in the region.
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Emergen Research has segmented the global LED lighting driver market on the basis of integrated circuit, dimming method, type, end use, and region:
Integrated Circuit Outlook (Revenue, USD Billion, Volume in Tons; 2018–2028)
Linear Regulator ICs
Dimming Method Outlook (Revenue, USD Billion, Volume in Tons; 2018–2028)
Type Outlook (Revenue, USD Billion, Volume in Tons; 2018–2028)
End Use Outlook (Revenue, USD Billion, Volume in Tons; 2018–2028)
Indoor Sports Facilities Lighting
Outdoor Sports Facilities Lighting
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Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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