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Global LED Driver for Lighting Market to Reach $31.3 Billion by 2024SAN FRANCISCO, Aug. 11, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "LED Driver for Lighting - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace. FACTS AT A GLANCE Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry ABSTRACT- Global LED Driver for Lighting Market to Reach $31.3 Billion by 2024 Growth in the global is set to be fueled by increasing adoption of LED lighting for their high energy efficiency and associated cost saving. Global demand for LED lighting drivers is fueled by replacement of traditional light sources like incandescent and CFLs by LEDs coupled with government initiatives to increase awareness regarding the use of energy-efficient as well as cost-saving lighting systems. Product innovations and technological advancements to improve efficiency of lighting systems along with increasing use of LED lightings in various applications like automotive, outdoor, horticulture and industrial are poised to further drive the market. In addition, increasing demand for LED lighting in general lighting application, integration of lighting systems and IoT, and implementation of standard protocols related to lighting control are propelling the LED driver market. Increasing investment in advertisement is expected to considerably drive the adoption of digital signage and create the need for LED drivers. Europe and the US are expected to witness increasing LED Lighting adoption as the regions embark on the much needed energy efficiency drive helped by a multitude of energy saving regulations. Furthermore, tax incentives, clean energy alternatives and energy subsidies are the few other factors that are drawing these countries towards LED lighting uptake, in turn driving the demand for LED drivers for lighting. Growth in the Asia-Pacific region is attributed to technological advancements, declining prices of LEDs, economic development, government policies, and rapid urbanization across developing countries like China, India and Japan. The market for constant current type is forecast to dominate market share over the analysis period, driven by features such as increased control, clear display, and uniform brightness. Constant current LED drivers are designed for LEDs that require a fixed output current and a range of output voltages. Applications that require several LED lights to be connected in series make use of constant current LED drivers. With the ability to maintain a more consistent level of brightness across all LED series, constant current driver is the most ideal method to drive high power LEDs. The precise control of the current enables more accurate projection of failure rates. More MarketGlass™ Platform Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android About Global Industry Analysts, Inc. & StrategyR™ CONTACTS: LINKS Connect With Us on LinkedIn Follow Us on Twitter Journalists & Media
View original content to download multimedia:https://www.prnewswire.com/news-releases/global-led-driver-for-lighting-market-to-reach-31-3-billion-by-2024--301353021.html SOURCE Global Industry Analysts, Inc. |