Overview and ScopeAn LED (light-emitting diode) driver for lighting is a device that regulates the power to an LED or a string of LEDs. It converts higher voltage, alternating current to low voltage, direct current to power the LEDs. LED drivers are essential for the proper operation and longevity of LEDs, ensuring they receive the correct voltage and current. The purpose these light is to provide efficient and stable power to LEDs, enabling them to produce light effectively and consistently.
Sizing and ForecastThe LED driver for lighting market size has grown exponentially in recent years. It will grow from $21.20 billion in 2023 to $25.51 billion in 2024 at a compound annual growth rate (CAGR) of 23.50%. The growth in the historic period can be attributed to energy efficiency regulations, government initiatives and subsidie, growing awareness of environmental issues, and urbanization and infrastructure development.
The LED driver for lighting market size is expected to see exponential growth in the next few years. It will grow to $54.05 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to rising proliferation of electronic devices, increasing demand for energy-efficient lighting, rising adoption of smart systems, and growing adoption in automotive lighting. Major trends in the forecast period include advancements in LED technology, smart lighting and IoT integration, adoption of wireless technologies, miniaturization and advanced designs, and customization and versatility.
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Segmentation & Regional InsightsThe led driver for lighting market covered in this report is segmented –
1) By Luminaire Type: Type A-Lamps, T-Lamps, Integral LED Modules, Other Luminaire Types2) By Driving Method: Constant Current LED Driver, Constant Voltage LED Driver3) By End Use: Commercial Lighting, Industrial Lighting, Residential Lighting, Outdoor And Traffic Lighting, Other End Uses
Asia-Pacific was the largest region in the LED driver for lighting market in 2023. The regions covered in the LED driver for lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market GrowthThe rising number of vehicles is expected to propel the growth of the LED driver for lighting market. There is an increase in need of vehicles due to population growth, urbanization, increased economic activity, and improved accessibility to vehicles through affordability and financing options. LED drivers are crucial for vehicles as it regulate the power to LED lights, ensuring consistent operation, protecting against voltage fluctuations, extending lifespan, and enabling dimming or brightness control features. For instance, in April 2024, according to the Society of Motor Manufacturers and Traders Ltd. (SMMT), a UK-based trade association, the number of vehicles on UK roadways reached an all-time high of 41.44 million in 2023, an increase of 1.7% compared to the previous year. Therefore, the rising number of vehicles is driving the growth of the LED driver for lighting market.
Key Industry PlayersMajor companies operating in the LED driver for lighting market are Panasonic Corporation, Toshiba Electronic Devices & Storage Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Infineon Technologies AG, Delta Electronics Inc., Analog Devices Inc., ON Semiconductor Corporation, ams AG, Hubbell Inc., ROHM Co. Ltd., Maxim Integrated Products Inc., Diodes Inc., Mean Well Enterprises Co. Ltd., Allegro MicroSystems Inc., Power Integrations Inc., Cree Inc., Elmos Semiconductor SE, Lutron Electronics Co. Inc., Fulham Co. Inc., Helvar Oy AB, Cypress Semiconductor Corporation
The led driver for lighting market report table of contents includes:
1. Executive Summary2. Market Characteristics3. Market Trends And Strategies4. Impact Of COVID-195. Market Size And Growth6. Segmentation7. Regional And Country Analysis...27. Competitive Landscape And Company Profiles28. Key Mergers And Acquisitions29. Future Outlook and Potential Analysis
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MRFR also says that the market can expand at a notable rate of 31.58% during the review period, which is between 2019 and 2025.Growth Boosters and Main Restraints The exponential proliferation of COVID-19 globally has severely impacted the semiconductor industry, with the temporary shutting down of manufacturing facilities and subsequent slowdown in production.
The pandemic has led to disruption in the ecosystem with various supply chain vendors striving to curb their dependency on China.
The current lockdowns situation has not only affected the manufacturing sector but has also restrained the demand for semiconductor devices among consumers.
There are chances of the LED drivers market taking a hit in the face of COVID-19 in the coming years.More Information@ https://www.marketresearchfuture.com/reports/led-drivers-market-8665On a brighter note, the escalating demand for IOT-based connected lighting systems and solutions in line with the mounting number of smart homes across developed regions can mean favorable prospects for the LED driver industry.
The rising adoption of LED lighting, lighting applications and the surge in the number of smart street lighting projects around the world are also inducing the growth of the LED drivers market.LEDs are known as the ideal energy-efficient substitute for conventional light sources; which is the reason for their extensive use in lighting and display application across industries.
LED lighting has successfully replaced traditional lighting products, given the broad range of benefits they offer, including miniaturization, higher energy-efficiency, longer life, directionality as well as lower heat output.
Report on World LED Lighting Driver Market by Product Type, Market, Players and Regions-Forecast to 2025 by DecisionDatabases.comLED Lighting Driver market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.The report includes the forecasts, Analysis and discussion of important industry trends, market size, market share estimates and profiles of the leading industry Players.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/46867-world-led-lighting-driver-market-reportThe Players mentioned in our reportMEAN WELLPhilipsTridonicMOSO PowerEagleriseTCIOSRAM SYLVANIALIFUDSELFInventronicsGlobal LED Lighting Driver Market: Product Segment AnalysisDALI0-10V DimmingStandard (non-dim)Triac DimmingSmart DriverGlobal LED Lighting Driver Market: Application Segment AnalysisIndoor lightingOutdoor lightingSpecial lightingGlobal LED Lighting Driver Market: Regional Segment AnalysisUSAEuropeJapanChinaIndiaDownload Free Sample Report of World LED Lighting Driver Market @ https://www.decisiondatabases.com/contact/download-sample-46867There are 10 Chapters to deeply display the World LED Lighting Driver market.Chapter 1 About the LED Lighting Driver IndustryChapter 2 World Market Competition LandscapeChapter 3 World LED Lighting Driver Market shareChapter 4 Supply Chain AnalysisChapter 5 Company ProfilesChapter 6 Globalisation & TradeChapter 7 Distributors and CustomersChapter 8 Import, Export, Consumption and Consumption Value by Major CountriesChapter 9 World LED Lighting Driver Market Forecast through 2025Chapter 10 Key success factors and Market OverviewPurchase the complete World LED Lighting Driver Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-46867Other Reports by DecisionDatabases.com:World LED Street Lighting Market Research Report 2024 (Covering USA, Europe, China, Japan, India and etc)World LED Production Equipment Market Research Report 2024 (covering USA, Europe, China, Japan, India, South East Asia and etc)About-Us:DecisionDatabases.com is a global business research report provider, enriching decision makers and strategists with qualitative statistics.
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What is a led driver, High power led manufacturer, philips led driverLED lighting is a type of lighting which uses light emitting diodes as a source of illumination.
LED light bulbs are more efficient than fluorescent or incandescent bulbs.
