Rising Application in Household and Commercial Sectors Alike to Stoke Demand for LED Lighting Driver

Published On : 08 Jun 2017

Already a multi-billion dollar industry, the global LED lighting driver market is forecast to show incremental growth between 2016 and 2022. As per a report added to QYResearchReports.com, the global LED lighting driver market will reach US$10.53 bn by the end of 2022, from its earlier value of US$5.25 bn in 2016. If these figures hold true, the global LED lighting driver market will exhibit a CAGR of 10.44% between 2016 and 2022. The report is titled “Global LED Lighting Driver Market Research Report 2017” and is available for sale on the company’s official website. 

It presents a comprehensive overview of the global LED lighting driver market, covering growth drivers and restraints influencing its trajectory. The report compiles exhaustive information about the global LED lighting driver market obtained from trusted industrial sources. Furthermore, data included in the report is substantiated using various graphs, inforgraphs, charts, and relevant statistics. It is thus intended to help stakeholders understand the market better and gauge its growth prospects. While discussing the competitive landscape, the report also draws a few recommendation for the existing players and calculates the investment feasibility for new entrants. 

Get PDF of Research Summary Of The Repot: http://www.qyresearchreports.com/sample/sample.php?rep_id=1054506&type=E

The market as per the report will gain considerably as prevailing dynamics transition from UV lamp to LED. The rising demand for LED in retail outlets, street lights, office complexes, besides the rising demand from the residential sector has emerged a key to growth witnessed in the LED lighting driver market. However, the biggest challenge faced by market players today is to take a note of the existing gap between cost and what triggers consumer preference. Nonetheless, with the rising application of LED lighting in the household and commercial sectors alike, the demand for LED lighting driver is expected to remain high even in the coming years. Also the market sees lucrative prospects in rising outdoor applications such as street lighting, tunnel and highway lighting, and roadway lighting. 

Regionally, Asia Pacific is showcasing the most lucrative market opportunities. The rising demand from emerging economies such as India and China, besides demand witnessed in developed nations such as South Korea and Japan has helped the LED lighting driver market gain traction in Asia Pacific. Furthermore, investment to support rapid urbanization across emerging nations has created a much higher demand for infrastructure in Asia Pacific than in developed regions such as North America and Europe. This also helps in growth of the LED lighting driver market in Asia Pacific. 

Currently, Fulham Company Group holds dominance as the leading supplier of lighting components in most developed markets. However, with innovations on card, companies such as Maxim Integrated, Inc., Osram GmbH, Harvard Engineering, General Electric, Texas Instruments, Inc., Cree, Inc., Macroblock, Inc., and Rohm Semiconductors and Atmel Corp. will rival to emerge at the fore of the global LED lighting driver market’s vendor landscape. 

 

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