According to a new report Global LED Driver Market, published by KBV Research, The Global LED Driver Market size is expected to reach $11.4 billion by 2025, rising at a market growth of 16.6% CAGR during the forecast period. Increasing adoption of smart lighting in the residential, infrastructural, automotive and industrial sectors, the involvement of several lighting majors, the availability of new technologies, and strict energy efficiency regulations, among others, are the key factors driving market growth in developed countries.
The constant current category led the market in 2018, and its high use across the market is expected to remain dominant over the years to come. Constant current products are ideal for several applications because they offer greater flexibility and ability to develop uniform brightness and clear display. The products of constant voltage are used in tasks that require the connection of several LED lights in series. In general lighting applications, these types of drivers have greater system efficiency. The Constant Voltage LED Driver market is expected to witness a CAGR of 18.8% during (2019 - 2025).
The lighting segment is expected to witness a high CAGR over the forecast period. On the other side, the application segment for consumer electronics is predicted to account for the highest market share by 2025. Additionally, The Automotive market is expected to witness highest CAGR of 17.3% during (2019 - 2025).
Asia Pacific was recorded as the market leader in 2018 and is expected to maintain this trend over the forecast period. This dominance has been attributed to strict regional regulations that drive the market for efficient lighting solutions. The Europe market showcases prominent growth rate of 15.9% during (2019 - 2025). Additionally, The North America market is experiencing growth rate of 15.6% during (2019 - 2025).
Full Report:https://www.kbvresearch.com/led-driver-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ON Semiconductor Corporation, Koninklijke Philips N.V., Texas Instruments, Inc., Maxim Integrated Products, Inc., Rohm Semiconductors Co., Ltd., General Electric (GE) Co., Infineon Technologies AG, NXP Semiconductors N.V., STMicroelectronics N.V. and Toshiba Corporation.
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