Led Driver Market Set to Surge, Anticipated Revenue Of $79.3 Billion By 2030 At 27.2% Cagr

LED driver market

LED driver market

Led Driver Market: Global Opportunity Analysis and Industry Forecast, 2021-2030.

The global LED driver market size is expected to witness a considerable growth, owing to increase in adoption of smart technologies, especially in emerging economies such as Asia-Pacific and LAMEA”
— Allied Market Research

WILMINGTON, DELAWARE, UNITED STATES, February 8, 2024 /EINPresswire.com/ -- 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.

The global LED driver market size was valued at $7,400.1 million in 2020, and is projected to reach $79,333.3 million by 2030, registering a CAGR of 27.2% from 2021 to 2030.

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The key factors that drive the LED driver market growth include surge in adoption of energy-efficient lighting, increase in the development of programmable LED drivers, and rise in adoption of smart infrastructure in developing regions. The key factors that hamper the growth of this market are high cost for the installation. Emergence of IoT enabled lighting solutions is opportunistic for the LED driver market growth.

According to global LED driver market trends, by component, the market is fragmented into driver IC, discrete component, and others, others. The others segment was the highest revenue contributor that accounted for $2890.6 million in 2020. However, the discrete component segment is expected to witness the fastest growth at a CAGR of 29.5% during the forecast period.

COVID-19 has caused the overall semiconductor industry to mobilize quickly and make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers & partners across the globe. 

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Competitive Analysis:
The LED driver industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players of the LED driver market include,

➡️ HATCH LIGHTING,
➡️ AC ELECTRONICS,
➡️ ROHM CO., LTD.
➡️ SMART GLOBAL HOLDINGS, INC.
➡️ MAXIM INTEGRATED PRODUCTS, INC.
➡️ MACROBLOCK, INC.
➡️ ON SEMICONDUCTOR CORPORATION
➡️ AMS OSRAM
➡️ TEXAS INSTRUMENTS INC.
➡️ MICROCHIP TECHNOLOGY INC.

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Top Impacting Factors:
Notable factors positively affecting the growth of the LED driver industry include surge in adoption of energy-efficient lighting, increase in the development of programmable LED drivers, and rise in adoption of smart infrastructure in developing regions. However, high cost for the installation is expected to pose major threats for the growth of the LED driver market. Furthermore, emergence of IoT enabled lighting solutions is expected to offer lucrative opportunities for the market growth in the coming years.

Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international security screening market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.

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Key Benefits for Stakeholders:

➡️ This study comprises analytical depiction of the LED driver market size along with the current trends and future estimations to depict imminent investment pockets.
➡️ The overall LED driver market analysis is determined to understand the profitable trends to gain a stronger foothold. 
➡️ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
➡️ The present LED driver market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency. 
➡️ Porter’s five forces analysis illustrates the potency of the buyers and the sensor market share of key vendors.
➡️ The report includes the trends and the LED driver market share of key vendors.

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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

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Allied Market Research
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