Market World LED Lighting Driver Market Scope | Page 2

into energy savings associated with LED’s. LED requires driver mainly to run on a low voltage and
direct current electricity; and also LED driver rectifies higher voltage, alternating current to low
voltage and direct current. LED drivers also protect LED’s from voltage or current flickers. Change in
voltage causes a change in current being supplied to the LED’s. Hence, too much or too little current
can cause light output to vary or degrade rapidly owing to higher temperatures within the LED.
At a glance, LED drivers convert higher voltage, alternating current to low voltage, direct current
and LED drivers keep the voltage & current flowing through an LED circuit at its standard level. Also,
it is important to make a wise selection between constant-current drivers, constant-voltage drivers
and AC LED drivers.
Commercially, the LED driver market is anticipated to grow at a higher CAGR owing to green
initiatives and power saving resolutions. Ready availability of LED bulbs and LED lighting drivers
result in saving millions of dollars on energy expenditure. Therefore, with the rising popularity and
overwhelming response by the audience, the LED lightning driver market is estimated to grow at a
double-digit CAGR during the assessment period.
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The key driving factors responsible for the growth of LED lighting drivers market includes growth in
demand of LED in lighting applications such as retail outlets, street lights, residential complexes and
rapidly growing usage within the commercial applications. Additionally, residential & commercial
application of LED lighting propels the market demand for LED drivers.However, the market
hindering factors is lack of understanding the gap between cost and benefit by the user.
On the basis of end-user segment, the LED lighting drivers market is segmented into residential and
commercial. On the basis of luminaire segment, the LED lighting drivers market is segmented into A-
type Lamps and T-type Lamps.
On the basis of geographic segmentation, the LED lighting drivers market spans North America,
Europe, Japan, China, Southeast Asia and India. Southeast Asia is estimated to grow at a higher
CAGR during the forecast period owing to faster growing economies like India & China. It has
technologically and economically advanced economies of Japan and South Korea. India has a biggest
consumer base for LED lighting products which is driving the LED market in Indian market.