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Commercially, the global 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.
The key driving factors responsible for the growth of global 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 driving method, the global LED lighting drivers market is segmented into constant volume and current volume. On the basis of end-user segment, the global LED lighting drivers market is segmented into residential and commercial. On the basis of luminaire segment, the global LED lighting drivers market is segmented into A-type Lamps and T-type Lamps.
On the basis of geographic segmentation, the global 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. Strong presence of manufacturers in China are constantly enhancing consumption, conductivity and voltage aspect of LED is anticipated to upsur ge the LED demand.
The key players in the global LED lighting drivers market include Texas Instruments, Inc., Osram GmbH, Harvard Engineering, Maxim Integrated, Inc., Macroblock, Inc., Cree, Inc., Rohm Semiconductors, General Electric and Atmel Corp.,
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