Global LED Driver Market 2017-2021
About LED Driver
An LED driver is used for the power regulation of an LED or for a series of LED connections. LEDs operate on low-voltage DC, but the power supplied to households is usually high-voltage AC. Therefore, LED drivers are used for the conversion of high- voltage AC to low-voltage DC for the efficient operation for LEDs. One of the main features of LEDs is that it changes on the basis of the temperature it is subjected to. Therefore, an increase in the temperature can result in the breakdown or failure of the LED. To overcome this challenge, LED drivers are used. An LED driver is designed to respond to the changing needs of an LED, and it provides a constant power output for its efficient operation.
Technavio’s analysts forecast the global LED driver market to grow at a CAGR of 8.39% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global LED driver market for 2017-2021. To calculate the market size, the report considers the sales of LED drivers to LED manufacturers and LED display manufacturers for automotive, general lighting, and backlighting applications.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global LED Driver Market 2017-2021
Technavio recognizes the following companies as the key players in the global LED driver market: AC Electronics, Microchip Technology, Cree, GENERAL ELECTRIC, MACROBLOCK, Maxim Integrated, ON Semiconductor, OSRAM, STMicroelectronics, and Texas Instruments
Other Prominent Vendors in the market are: ams, Harvard Technology, Lutron Electronics, NXP Semiconductors, Philips Lighting, Power Integrations, ROHM Semiconductor, and Skyworks Solutions.
Commenting on the report, an analyst from Technavio’s team said: “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.”
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.
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.
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.
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