Global LED Lighting Driver Market Size, Share, and Growth Analysis, Drivers and Restraints, Key Opportunities, Recent Trends, Product End Uses, and Forecast: 2019–2028

Global LED Lighting Driver Market is an upcoming report by MarketResearch.biz. The global LED lighting driver market report includes detailed driving and restraining factors of the target market. Also, potential opportunities, ongoing trends, segment-wise and region-wise qualitative and quantitative data. The region-wise data is further broken down into major country-wise data. In addition, the report provides information regarding major companies in the global market such as company overview, business segments, product portfolio, company’s total revenue and segment revenue, geographical presence, gross margin, operating costs, etc. The global LED lighting driver market report has been segmented on the basis of the driving method, luminaire, end-use application, and region.

About LED Lighting Driver

LED (light-emitting diode) is energy-efficient lighting with higher lifespan in comparison to other lighting options. LED lighting driver is a self-contained energy supply which is required to regulate power needed for LED or series of LED to function. In addition, LED driver’s purpose is to protect LED lighting from failure by rectifying higher-voltage alternating current to low voltage direct current. LED drivers also provide protection to LEDs from fluctuating voltage and ensure proper functioning of LED lighting.

Market Dynamics: Major Drivers, Restraints, Potential Opportunities, and Recent Trends

Rising adoption of LEDs for application in residential complexes, retail outlets, commercial applications, and street lights, among others is a major factor expected to drive growth of the global LED lighting driver market. Increasing awareness regarding features offered by LED lightings such as cost-saving and energy-saving capabilities, trendy and appealing appearance, availability of LEDs in various colors, sizes, and color and brightness changing features is expected to drive demand for LED lighting and in turn, drive growth of the target market. In addition, rapidly growing construction and reconstruction activities, coupled with rising adoption of LEDs for application in residential and non-residential sectors, growing industrial development, and unfavorable government regulations regarding high energy consumption by other lightings are some other factors expected to propel growth of the global LED lighting driver market.

However, high cost associated with initial set up and installation of LED lighting drivers is a major factor that could hamper rate of adoption of LED lighting drivers and restrain growth of the global market.

Nevertheless, improvement in color-tunable LED drivers and advancement of visible light communication (VLC) LED drivers are factors expected to create opportunities for players in the global market. Furthermore, adoption of miniaturized LED drivers and ever-increasing construction and reconstruction activities in residential and non-residential sectors across the globe are projected to create significant opportunities for manufacturers operating in the target market.

Segment Analysis

By Driving method:

Among the driving method segments, the constant current driving method type segment is expected to contribute major revenue share and is projected to register higher growth rate over the forecast period.

By Luminaire:

Among the luminaire segments, the decorative lamps segment is expected to account for the highest revenue share owing to higher demand for such products for decorating houses and commercial buildings during festivals and special occasions.

By End-use Application:

Among the end-use application segments, the traffic & outdoor lighting segment is projected to register substantial growth rate in terms of revenue in the global market. Traffic & outdoor application includes roadway lighting, tunnel lighting, and street lights. The residential lighting segment is expected to account for major revenue share in the target market owing to high demand and adoption of LED lighting for residential purposes for decorative and electricity saving.

Global LED Lighting Driver Market: Region Analysis

LED lighting driver market in Asia Pacific is expected to account for major revenue share in terms of revenue and register considerable growth rate over the next 10 years, owing to presence of large number of manufacturers in India and China in the region, and higher demand for LED lighting in countries in the region.

North America LED lighting driver market is estimated to register a significant growth rate over the forecast period, followed by the Europe market, owing to rapidly increasing usage of LEDs in the households in residential lighting applications and modernization of infrastructure.

Global LED Lighting Driver Market Segmentation:

Segmentation by Driving Method:

• Constant current
• Constant Volume

Segmentation by Luminaire:

• A-type lamps (Bulbs)
• T-type Lamps (Tubular)
• Decorative Lamps
• Reflectors
• Integral LED Modules

Segmentation by End-User Application:

• Residential lighting
• Commercial lighting
• Automotive lighting
• Outdoor &Traffic lighting
• Industrial lighting
• Other (City lighting, office lighting, horticulture lighting, entertainment lighting, etc.)

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa