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The global LED driver market size is expected to reach at USD 11.31 billion by 2025NEW YORK, Oct. 22, 2019 /PRNewswire/ -- LED Driver Market Size, Share & Trends Analysis Report By Supply Type (Constant Voltage, Constant Current), By Application Type (Automotive, Consumer Electronics, Lighting, Outdoor Display), And Segment Forecasts, 2019 - 2025 Download the full report: https://www.reportbuyer.com/product/5807234/?utm_source=PRN The global LED driver market size is expected to reach at USD 11.31 billion by 2025. The light-emitting diode driver market is projected to expand at a CAGR of 16.3% over the forecast period. LEDs have emerged as an energy-efficient alternative to traditional light sources in the last decade; thus, they have extensive demand in lighting and display segments across several industries. LED lighting is replacing the traditional lighting products due to their benefits, such as longer life, higher energy-efficiency, miniaturization, lower heat output, and directionality. For instance, Philips Lighting N.V. has collaborated with Vodafone Limited to deploy IoT-based wireless Smart Street lighting across the globe. There is a high demand for energy-efficient and highly reliable products with a smaller system package and lower cost for applications in the low- to mid-power range. To meet these requirements, manufacturers are incorporating Primary-Side Regulation (PSR) to lower the costs by eliminating secondary feedback circuitry and Power-Factor Correction (PFC) circuitry for higher power quality. Further key findings from the study suggest: • The constant current segment is anticipated to expand at the highest CAGR of 16.7% from 2019 to 2025. These type of drivers provide greater system reliability for general lighting applications • The application lighting segment is anticipated to witness the maximum CAGR of 18.6% over the forecast period • On the other hand, consumer electronics application segment is estimated to account for the largest market share by 2025 • Asia Pacific led the market in 2018 and is projected to maintain the dominance throughout the forecast years due to stringent regulations across region, which fuel the demand for efficient lighting solutions • Key industry participants include AC Electronics; Atmel Corp.; Cree, Inc.; General Electric Company; Koninklijke Philips N.V.; Lutron Electronics Co.; On Semiconductor Corp.; and Osram GmbH Download the full report: https://www.reportbuyer.com/product/5807234/?utm_source=PRN About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +1 (718) 213 4904 Website: www.reportbuyer.com View original content:http://www.prnewswire.com/news-releases/the-global-led-driver-market-size-is-expected-to-reach-at-usd-11-31-billion-by-2025--300942762.html SOURCE ReportBuyer |