MRRSE LED Driver and Chipset Market : Facts, Figures and | Page 6

market growth of LED Drivers and Chipsets are also highlighted in this
report.
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In 2014, among the different lighting applications, the outdoor lighting
and traffic signal held the largest market share and is expected to
witness a growth of double digit CAGR. However, the indoor lighting is
expected to be the fastest growing market expanding at a CAGR of
26.0%. LED lights up very quickly and can reach full brightness in
microseconds. Thus, it is most suitable for lighting purpose. Moreover,
LEDs don't lose its brightness over time. Even if the LEDs dim over
time, they never fail completely like HID s ources. LEDs are needed to
be replaced after they reach 30% lumen depreciation. These factors
are responsible for wide use of LEDs for lighting purposes, which in