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LED Driver And Chipset Market - Anticipated to Rise at 23.0% CAGR Between 2015 and 2021

09-04-2018 07:52 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
The prime concern about rising energy consumption and increasing carbon footprint at a global scale has prompted governments to motivate users to opt for LED technology, observes Transparency Market Research. LED technology is currently being used in a wide range of applications within displays and lighting solutions. These factors are collectively creating a positive impact on the growth of the global LED driver and chipset market, as LED drivers are crucial components for improving the performance of LED lights. Tax exemptions offered by governments on LED devices have also prompted several consumers to replace traditional lighting solutions with modern LED technology.

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The global LED driver and chipset market, namely Advanced Analogic Technologies Inc., Ixys Corp., and Diodes Inc. are focusing aggressively on product differentiation for competitive edge, finds Transparency Market Research (TMR). These companies are vying to offer technologically advanced products by means of extensive research and development initiatives.

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Across the world, incessantly increasing demand for energy leading to increasing carbon footprint is promoting the uptake of energy-saving LED technology. This, in turn, is fuelling the demand for LED driver and chipset. LED technology finds widespread applications in lighting and display solutions. LED drivers are essential components for enhancing the performance of LED lights. These factors are collectively fuelling the LED driver and chipset market.

In addition, subsidy offered on LED devices by several governments is prompting consumers to replace conventional lighting with LED lighting solutions. This is boosting the LED driver nd chipset market considerably.

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Rising investments by companies manufacturing LED devices and technological advancements have led to sharp drop in prices of LED devices. This is positively impacting the LED driver and chipset market.

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