LED Drivers Market Size Expected to Grow at a CAGR over 31.58% from 2019 to 2025

Pune, India, December 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global LED Drivers Market.

Overview

According to Market Research Future, the market for the Global LED Drivers has been segmented on the basis of Type, Component, Luminaires Type, Application, and Region.

LED drivers are electrical components that deliver power to an LED or an array of LEDs in a regulated manner. LED drivers are gaining popularity among the masses owing to the benefits they offer which include low voltage consumption, and increased LED life span. Growing adoption of LED lighting, in general lighting applications and increase in smart street lighting projects across the globe are the key factors driving the LED drivers market.

Based on type, the market has been categorized as constant voltage and constant current. The constant current segment is projected to account for the larger share during the review period owing to its benefits such as a high consistent brightness and burnout/thermal runaway avoidance. However, the constant voltage segment is expected to register a significant CAGR during the forecast period. In 2017, Hatch Lighting launched a new product line of constant voltage LED drivers for use with MLV (TRIAC) dimmers.

Based on component, the market has been categorized into driver IC, discrete component, and others. The driver IC segment dominated the market in 2018. This segment is expected to register the highest CAGR during the forecast period from 2019 to 2025.

Based on luminaires type, the market has been categorized as type A lamps, decorative lamps, T lamps, reflectors, and others. The type-A lamps segment is expected to dominate the review period, however, the T lamps segment is expected to register the highest CAGR during the forecast period. The low cost and effective lighting capabilities at low voltage drive the demand for T lamps among the masses.

Based on application, the market has been categorized as commercial lighting, industrial lighting, automotive lighting, residential lighting, and others. The commercial lighting segment is expected to dominate the review period whereas the automotive lighting segment is expected to register the highest CAGR during the forecast period. The advancement in automotive LED lighting and demand drive the demand for LED drivers market.

Regional Analysis

The Global LED Drivers Market has been segmented by region into North America, Europe, Asia-Pacific, and the rest of the world.

Asia-Pacific, followed by Europe, is expected to be the largest market in the forecast period. Within Asia-Pacific, China is expected to hold the highest market share. The growing market for the increasing number of government initiatives to promote energy-saving lighting drives the demand for LED drivers in the Asia-Pacific.

Access Report Details @ https://www.marketresearchfuture.com/reports/led-drivers-market-8665

Key Players

The Prominent Players in the Global LED Drivers Industry are Osram GmbH (Germany), Harvard Technology Ltd. (UK), Texas Instruments (US), Maxim Integrated (US), Macroblock Inc. (Taiwan), Atmel Corporation (US), General Electric Company (US), Cree, Inc. (US), ROHM Semiconductors (Japan), ON Semiconductor (US), AC Electronics (US), Signify Holding (Netherlands), Lutron Electronics Co., Inc. (US), NXP Semiconductors N.V. (Netherlands), and STMicroelectronics N.V. (Switzerland).