Global LED Lighting Drivers Market: Overview
LED is low power lighting equipment having an elongated lifespan and needs special electric supply that is given to it through LED lighting drivers. The driver is electronic equipment installed to provide electricity to arrays of LED or just LED under operations. LED lighting driver offers protection to LED from untimely failure through regulation of voltage offered to the latter.
Global LED Lighting Drivers Market: Growth Factors
With the product ensuring the efficient LED functioning through incessant power supply to LED, the market growth is likely to gain traction over the coming years. Apart from this, the product is gaining huge popularity due to its cost-saving and power efficiency features. Additionally, massive product penetration across the globe with the rise in the usage of LEDs will proliferate the scope of the business over the years to come. Moreover, governments in the emerging economies are also introducing new measures to promote the use of LED for reducing power usage. This aspect will further stimulate the expansion of LED lighting drivers industry in the forthcoming years. Nevertheless, high initial product deployment costs will inhibit the LED lighting drivers industry growth in the foreseeable future. However, the large-scale usage of tiny LED driving drivers will offer new growth avenues for the market in the near future, thereby nullifying the impact of hindrances on the business growth.
Global LED Lighting Drivers Market: Segmentation
The LED lighting driversmarket can be sectored into driving method, dimming method, driver type, technology, and application. Based on the driving method, the industry can be segmented into constant voltage and continuous current. On the basis of dimming method, the LED lighting drivers market can be classified into non-dimmable and dimmable methods. In terms of driver type, the industry can be segregated into external and internal driver type. Based on the technology, the LED lighting drivers industry can be divided into conventional and smart technologies. Application wise, the industry is segregated into office lighting, industrial lighting, entertainment lighting, industrial lighting, horticulture lighting, residential lighting, commercial lighting, sports facilities lighting, city lighting,and automotive lighting.
Global LED Lighting Drivers Market: Regional Analysis
Region wise, the LED lighting drivers market can be divided into five main regions: Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa. Asia Pacific is projected to dominate the overall market growth over the projected timeline, subject to massive demand of the LED in retail outlets, commercial complexes, and residential buildings. In addition to this, huge presence of the product manufacturers in the countries such as China will boost the regional market earnings. Moreover, thriving real estate sector, huge infrastructure spending, and large-scale investments in R& D activities witnessed in the energy & power sector will boost the regional growth.
North America, Latin America, the Middle East and Africa, and European markets have huge growth prospects and are predicted to make remarkable contributions towards the overall market progression.
Global LED Lighting Drivers Market: Competitive Players
Few of the main participantsin LED lighting drivers market areSignify Holding, Delta Electronics, Inc., Inventronics Inc., Tridonic GmbH & Co KG, Osram GmbH, Mean Well Enterprises Co. Ltd., Cree, Inc., and Harvard Technology Ltd.
Global LED Lighting Drivers Market: Regional Segment Analysis
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