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LED Driver Market Growth at CAGR 8.39% to 2021

LED driver market is semiconductor and electronics market report added on reportsnreports.com. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Pune, India – December 11, 2017 /MarketersMedia/

The analysts forecast global LED driver market to grow at a CAGR of 8.39% during the period 2017-2021. Commenting on the LED Driver market report an analyst the latest trend gaining momentum in the market is Increasing government support and incentives for LED lighting projects. Global warming and the rapid depletion of nonrenewable energy sources highlight the indispensable need for energy conservation. Currently, it is estimated that lighting applications account for more than 20% of the global electricity consumption. This high consumption has forced several countries to frame policies that ban the use of inefficient lighting sources and that promote the use of efficient lighting sources through subsidies and tax incentive programs. These incentives are offered by different governmental and non-governmental entities.

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According to the report, one of the major drivers for this market is Increasing requirements for external LED drivers. A major challenge to the LED market is the increasing replacement costs in the case of any failure. The reinstallation of LEDs is a time-consuming task and is a highly expensive process. Such issues prevent users from adopting LED lighting. To prevent this, external LED drivers can be used. If an LED fails before its rated life span, it is usually because of the driver failure. To overcome this, customers are now integrating external LED drivers into LED lights as they prolong the life of the LED. Moreover, it is a cost-effective technique. By adopting external LED drivers, the maintenance cost can be reduced as the LED need not be replaced. Thus, the increase in the demand for external LED drivers will fuel the growth of the global LED driver market during the forecast period.

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Further, the report states that one of the major factors hindering the growth of this market is High cost of LED lighting. A major challenge to the growth of the global LED driver market is the high cost of LED lighting. The initial cost required to integrate LED lighting into buildings, complexes, and terminals is very high. This prevents several end-users, such as real estate firms and airport construction companies, from integrating LEDs. These end-users prefer traditional lighting sources to LEDs as they have a lower initial cost.

Key players in the global LED driver market: AC Electronics, Microchip Technology, Cree, GENERAL ELECTRIC, MACROBLOCK, Maxim Integrated, ON Semiconductor, OSRAM, STMicroelectronics, Texas Instruments, ams, Harvard Technology, Lutron Electronics, NXP Semiconductors, Philips Lighting, Power Integrations, ROHM Semiconductor and Skyworks Solutions

Few Points from List of Exhibits:
Exhibit 1: Global Led Driver Market: Market Overview
Exhibit 2: Global Led Driver Market 2016-2021 ($ Millions)
Exhibit 3: Global Led Lighting Market 2016-2021 ($ Billions)
Exhibit 4: Light Output of Leds, Incandescent Bulbs, and Cfls
Exhibit 5: Life Span of Leds, Incandescent Bulbs, and Cfls
Exhibit 6: Five Forces Analysis
Exhibit 7: Global Led Driver Market By Product Type 2016 (%)
Exhibit 8: Global Led Driver Market By Product Type 2016-2021 ($ Millions)
Exhibit 9: Global Led Driver Market By Constant Current Led Drivers 2016-2021 ($ Millions)
Exhibit 10: Top Smart Lighting Systems
Exhibit 11: Global Led Driver Market By Constant Voltage Led Drivers 2016-2021 ($ Millions)
Exhibit 12: Global Led Driver Market By Application 2016 (%)
Exhibit 13: Global Led Driver Market By Application 2016-2021 ($ Millions)
Exhibit 14: Global Led Driver Market By Backlighting 2016-2021 ($ Millions)
Exhibit 15: Global Led Driver Market By General Lighting 2016-2021 ($ Millions)

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Source URL: https://marketersmedia.com/led-driver-market-growth-at-cagr-8-39-to-2021/276218

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Source: MarketersMedia

Release ID: 276218

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