LED Driver Market Overview
LED Driver Market Overview
The LED driver market is expectedto register a CAGR of 18.1% during the forecast period (2020 - 2025). LED drivers have become the bottleneck of LED lighting, both in terms of size and reliability. They provide fundamental advantages for LED lighting with smaller form factors, higher reliability, and improved efficiency over the dimming curve.
The increasing energy-efficient policies by the federal government and councils across the countries have deliberately motivated the investments in energy-efficient practices and technologies. The display devices, such as smartphones, tablets, laptops, and television, have widely adopted LED backlighting systems due to their low power consumption, and small and thin packing ability. Despite their wide adoption, the manufacturers are continuing to invest in backlighting systems to enhance the user experience.
The growth of the market is driven by the favorable government policies and energy-saving capabilities of the LED drivers. For instance, IEA advised the governments to phase-out inefficient lighting products and adopt lighting quality, reliability, and minimum energy performance standards for new and existing products.
The increasing penetration of LEDs, due to their energy-efficient and cost-saving nature, is impacting the growth of the market, as the LEDs are highly controllable when integrated with a driver and their intensity can be varied based on the requirement.
LED is one of the primary components of the new digital signage system, which delivers a high-quality image. The increasing expenditure on advertising is likely to boost the utilization of digital signage, thus fueling the requirement for LED drivers.
Lack of awareness regarding the benefits of the technology and high replacement cost in case of failure is restraining the growth of the market.
In recent years, the increasing industrial development and population growth led to a surge in global demand for energy. The decreasing amount of
resources and increasing demand for energy led to the energy crisis in the world. To overcome this crisis, governments of various countries have passed regulations on energy consumption, which state the use of energy-saving consumer electronics.
Scope of the Report
An LED driver is an electrical device that delivers power to a string of LEDs in a regulated manner. The LED driver maintains the constant power supply for LED as the electrical properties change throughout the temperature, which may increase or decrease for LED. LED driver is adopted by many
outdoor applications, such as roadway lighting, highway and tunnel lighting, and street lighting. These drivers have become more innovative and offer increased flexibility for the lighting solutions.