According to the report, global demand for LED driver market was valued at around USD 4.75 billion in 2015 and is expected to generate revenue of approximately USD 19.03 billion by end of 2021, growing at a CAGR of slightly above 26% between 2016 and 2021.
Increasing demand for LED lighting by households for improving the energy consumption is supporting the demand of LED driver in the residential sector. Outdoor & traffic sectors are the early adopters of LED as it leads to huge electricity savings. Outdoor & traffic lighting include roadway street lights, lighting, highway and tunnel lighting, and so on. The LED technology has also progressed in areas such as light distribution pattern, thermal properties, LED capacity and forward voltages, as LED manufacturers continue to push the boundaries of LED.
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High penetration of LED in lighting applications in retail outlets, office complexes, street lights, and rapidly growing usage within the residential lighting applications for households are the major drivers for the growth of the LED driver market. Since past decade, mobile backlight, display, landscape lighting, and TV backlight are showing widespread adoption of this type of technology.
However, technology and design of cost are becoming the major challenge for LED driver market. To overcome this challenge LED manufacturers are developing application based LED design. In order to create integrated and optimize the system, the design includes commercially available drivers, heat sinks, and optics from industry-leading suppliers. Managing high volume manufacturing automation and LED binning process, managing stress during the manufacturing process of LED are some of the key challenges in manufacturing LED lighting systems. Exterior and retail LED lighting applications present unique design challenges for the market. Different application segments will require different color LED lighting systems to enhance product quality and appearance. These restraints can be overcome by designing the functional test process to measure color intensity, emissive chromaticity and color temperature will ensure that the finished product and balanced light is achieved according to manufacturers binning rules. Optical sensor technology is also used to meet manufacturer requirements.
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Rapid economic development, increasing citizen prosperity and affordability of communications services is playing a key role in the growth of the LED driver market. Furthermore, technological advancement in LED driver market is providing the new opportunities. The recent push by emerging economies such as China and India toward energy efficiency is also a key factor for the growth of the LED driver for outdoor & traffic lighting.
Segmentation of LED drivers market is done on the basis of the driving method, end-users, luminaire type, and region. On the basis of the driving method, the market is fragmented into constant current and constant voltage. The end users of LED drivers are residential, commercial, industrial lighting, outdoor& traffic lighting, and others. On the basis of luminaire type, the market is bifurcated into A-type lamps, T- type lamps, decorative lamps, integral LED modules and others.
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The key players in this market are Osram GmbH, Texas Instruments, Inc., Maxim Integrated, Inc., Harvard Engineering, Macroblock, Inc., General Electric, Cree, Inc., and Rohm Semiconductors, and Atmel Corp., among others.
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