TMCnet News

LED Driver Market to Reach $79.33 Billion, Globally, by 2030 at 27.2% CAGR: Allied Market Research
[September 15, 2021]

LED Driver Market to Reach $79.33 Billion, Globally, by 2030 at 27.2% CAGR: Allied Market Research


Surge in adoption of energy-efficient lighting and rise in development of programmable LED drivers fuel the growth of the global LED driver market.

PORTLAND, Ore., Sept. 15, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "LED Driver Market by Luminaire Type (Decorative Lamps, Reflectors, Type A Lamp and Others) Supply Type (Constant Current and Constant Voltage) Component (Driver IC, Discrete Components, and Others), and Industry Vertical (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global LED driver market generated $7.40 billion in 2020, and is expected to garner $79.33 billion by 2030, witnessing a CAGR of 27.2% from 2021 to 2030.

Allied_Market_Research_Logo

Drivers, restraints, and opportunities

Surge in adoption of energy-efficient lighting, rise in development of programmable LED drivers, and increase in implementation of smart infrastructure in developing regions fuel the growth of the global LED driver market. However, high costs of installation hinders the market growth. On the other hand, emergence of IoT enabled lighting solutions presents new opportunities in the coming years.

Download Sample Report (Get Full Insights in PDF - 279+ Pages) @ https://www.alliedmarketresearch.com/request-sample/5898

Covid-19 Scenario

  • The manufacturing area in this sector witnessed a major loss during the initial phase of the lockdown owing to project delays and suspension of facilities.
  • The demand from the end using sectors, especially, automotive suffered severely. On the other hand, shortage of raw material occurred due to disruptions in the supply chain.
  • However, the government bodies are coming up with new and effective measures to help the industry maintain economic stability, and the market therefore, is expected to recoup soon.

The type A lamps segment to maintain its leadership status during the forecast period

Based on luminaire type, the type A lamps segment accounted for the largest share in 2020, contributing to nearly one-third of the global LED driver market, and is projected to maintain its leadership status during the forecast period. This is attributed to the fact that type A lamp offers the simplest installation process. However, the decorative lamps segment is projected to portray the largest CAGR of 30.3% from 2021 to 2030. Decorative lamps comes in different color and lighting pattern which adds the beauty to the space. This factor drives the demand for decorative lamps.

Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/5898

The constant current segment to continue its dominance in terms of revenue during the forecast period

Based on supply tpe, the constant current segment contributed to the highest share in 2020, holding more than three-fifths of the global LED driver market, and is estimated to continue its dominance in terms of revenue during the forecast period, as constant current driver is used drive high power LED's because it maintains a consistent brightness across all LEDs in-series. However, the constant voltage segment is projected to manifest the highest CAGR of 28.6% from 2021 to 2030. These drivers are designed for a single direct current output voltage that switch the alternating current voltage to a low direct current voltage.



Europe, followed by North America, to continue its lead position by 2030

Based on region, Europe, followed by North America, held the highest market share in 2020, contributing to nearly one-third of the global LED driver market, and is projected to continue its lead position by 2030. The increasing demand for smart lighting solutions based on IOT and longer life span is driving the adoption of LED driver in his region. However, Asia-Pacific is expected to witness the fastest CAGR of 29.8% during the forecast period. The increase in technological advancements and rapid urbanization in developing countries, such as India, China, and Japan boosts the growth of the market in this province.


Get detailed COVID-19 impact analysis on the Led Driver Market: https://www.alliedmarketresearch.com/request-for-customization/5898?reqfor=covid

Leading market players

  • Texas Instruments
  • Osram GmbH
  • Maxim Integrated
  • Atmel Corporation
  • General Electric Company
  • ROHM Semiconductors
  • Macroblock Inc.
  • ON Semiconductor
  • Cree, Inc.
  • AC Electronics.

Access AVENUE - A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access  

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:

https://www.alliedmarketresearch.com/avenue/trial/starter 

Similar Reports:

UV-C LED Market Size Is Projected To Reach $18.94 Billion by 2030

LED Grow Lights Market Size Is Projected To Reach $12.32 Billion by 2030

UV LED Market Size Is Expected To Reach $1.71 Billion by 2027

Industrial LED Market Size Is Projected To Reach $20.16 Billion by 2026

LED Light Engine Market Size Is Projected To Reach $91.27 Billion by 2030

Pre-Book Now with 10% Discount:

IR LED Market Size, Share, Industry Outlook and Forecasts 2021-2028

LED Materials Market Size, Share, Outlook | Industry Forecast 2021-2028

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com 
Follow Us on LinkedIn and Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg 


[ Back To TMCnet.com's Homepage ]