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LED Driver and Chipset Market - Future Forecast Assessed On The Basis Of How The Market Is Predicted To Grow

11-14-2018 02:02 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
The global LED Driver and Chipset market is expected to experience stable growth throughout the forecast period from 2015 to 2021. LED Drivers and Chipsets are transformers that are either fitted inside or outside the LED devices and converts high voltage alternating current to lower voltage direct current for proper functioning of LEDs. The global LED Driver and Chipset market is segmented on the basis of application and geography.

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By application, the LED Driver and Chipset market can be segmented into: display and lighting. By display, the LED Driver and Chipset market has been categorized into: mobile phones, digital camera, television and navigation devices, medical devices, computer/laptop peripherals and others. The others segment includes gaming devices, digital photo frames and MP3 players.

The lighting segment is further segmented into: outdoor areas and traffic signals, automotives, indoor lighting and commercial lighting among others. In addition, a cross-sectional analysis has been provided with respect to all the above segments included in different geographical regions which include North America, Europe, Asia Pacific and Rest of the World (RoW).

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Increasing demand for lighting and display appliances having an extended lifespan and less power consumption are the major factors responsible for the enormous use of LED devices which in turn is responsible for robust growth of LED Driver and chipset market. The average lifespan of a LED is 50000 hours and utilizes a fraction of energy as used by traditional display and lighting devices whereas an incandescent bulb lasts for 1200 hours and a CFL lasts for 8000 hours.

Moreover, LEDs use less power (watt) per unit of light generated (lumen). Thus, the extended lifespan and less power consumption have boosted the demand of LEDs which in turn is driving the global LED driver and chipset market. In addition, different initiatives such as Green Paper "Lighting the Future" (COM(2011)889) has been taken by the government across different parts of the world.

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