LED Drivers Market Drivers and Key Players Strategies Analyzed Till 2028
LED drivers prevent the damage to LEDs by regulating the forward voltage of the LED that changes with temperature, thus avoiding thermal runaway while delivering a constant current to the LED.
[USPRwire, Fri Apr 05 2019] One of the drivers for the LED Drivers Market is the penetration of LED lights all over the world, which require the usage of LED drivers for efficient lighting. Increase in the usage of LED lightings at locations, such as amusement parks, stadiums and other locations, has increased in the recent times, which is increasing the demand for the LED drivers as these applications require efficient lighting.
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The basic functionality of an LED is to emit light when an electric current is passed through its semiconductor material. However, there can be damages to LED lights due to the type of current passed through them. LED drivers were introduced for this purpose. LED drivers prevent the damage to LEDs by regulating the forward voltage of the LED that changes with temperature, thus avoiding thermal runaway while delivering a constant current to the LED. LED drivers also help compliment the energy star rating that leads to energy conservation. LED drivers provide better longevity, reliability and efficiency to LED lights.
LED Drivers Market: Drivers and Challenges
One of the drivers for the LED drivers market is the penetration of LED lights all over the world, which require the usage of LED drivers for efficient lighting. Increase in the usage of LED lightings at locations, such as amusement parks, stadiums and other locations, has increased in the recent times, which is increasing the demand for the LED drivers as these applications require efficient lighting. Another driver for the LED drivers market is the penetration of smartphones worldwide. The LED flash, which is now a mandatory hardware for mobile phone, requires the usage of an LED driver, and this is driving the LED drivers market. Some of the other factors driving the LED drivers market are the easy availability of LED drivers due to the presence of several players in each region, the energy efficiency of LED lights as well as the ability of LED drivers to save electricity cost & consumption.
However, some of the developing regions in the world still use traditional incandescent lamps, CFLs and the like owing to the high cost of LEDs as compared to these traditional forms of lighting. This is likely to restrain the LED drivers market in these regions because since LEDs are not being purchased in these locations, there will be no demand for LED drivers.
LED Drivers Market: Key Players
Some of the key players of LED Drivers market are Texas Instruments Incorporated; Toshiba Electronic Devices & Storage Corporation; STMicroelectronics N.V.; ON Semiconductor; General Electric Company; Cree, Inc.; NXP Semiconductor N.V.; AC Electronics; Atmel Corporation; Harvard Technology Ltd.; Koninklijke Philips N.V.; Lutron Electronics Co.; Macroblock Inc.; Maxim Integrated Products, Inc.; Osram GmbH; Skyworks Solutions; ROHM Semiconductors; Micrel Semiconductor; Zetex and others.
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On the basis of geography, LED drivers market can be segmented into North America, Latin America, Europe, CIS & Russia, Asia Pacific excluding Japan, Japan, and Middle East & Africa. Among various regions, Greater China and India are seen to be the largest markets and Japan is seen to be an emerging market due to the increasing penetration of LED lighting in the automotive and building & construction industries. The production and usage of LED lighting in Greater China is the highest, and the urbanization of infrastructure is expected to propel the demand for lighting products in Greater China. The MEA region is witnessing a lot of movement for the LED drivers market with Qatar and UAE hosting events such as the World Cup and Expo 2020 in Dubai. In terms of value, the North America region is expected to dominate the LED drivers market during the forecast period followed by China and Asia Pacific excluding Japan, and Greater China, U.S. and India, among others are likely to be significant countries in the LED market.
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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