Increasing demand for LED lighting in households for more efficient energy utilization is expected to drive global LED (Light Emitting Diode) driver market. LED usage was initially adopted in traffic & outdoor areas such as tunnels, highways, streets, and roadways. Considerable electricity savings associated with LED has increased its market presence and led to global demand.
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The industry is likely to experience notable growth owing to various benefits provided by the Chinese government to lower land cost for low emitting diodes factories. Prices of low-end and low-wattage light emitting diodes are decreasing remarkably in China. This will encourage product penetration in low income regions of the country.
The global market is categorized by driving methods, luminaire types, end-users, components, and regions. By driving methods, the market is segmented into constant voltage and constant current LED driver. Constant current LED driver is expected to lead the market. This segment avoids thermal runaway and burnout as they function within the current permissible levels.
Luminaire types are A-type, integral LED modules, reflectors, T-lamps, and decorative lamps. A-Type is expected to be the most dominant luminaire type in the near future.
End-users encompass outdoor & traffic lighting, commercial lighting, residential lighting, industrial lighting, and others. Outdoor & traffic lighting is likely to dominate the market, as LED lights are used in major lighting control projects. On the basis of components, the industry is divided into discrete components, driver ICs (integrated circuits), and others.
Region wise, the market is split into Asia Pacific, North America, and Europe. Asia Pacific is projected to experience substantial gains in the near future. Rising development, increased demand for energy saving products, and the ever-increasing population are factors driving the Asia Pacific LED (Light Emitting Diode) driver market.
Also, various regulatory policies in China promote the use of LEDs over traditional incandescent lights. LED aids in reducing the greenhouse emissions and overall energy bills. North America and Europe both have a considerable share of the market. This could be ascribed to huge investments and technological developments in energy efficient lighting.
Key players in the global LED (Light Emitting Diode) driver market consist of Osram GmbH, Cree, Inc. (USA), Maxim Integrated (USA), and Atmel Corporation.
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