Programmable LED Drivers Market size in terms of volume and value 2018-2028
Considering the recent adoption of technology in the electronic components the devices are getting smarter than the old ones and becoming more user-friendly regarding operations. Today's LED lighting designers are focusing on maximizing performance of their lighting fixture designs using programmable LED drivers for enhancement in the quality and features of the lights they offer. To sustain this changing scenario, the designers are demanding for more sophisticated technologies such as programmable LED drivers from the power sources they choose. Evolution in the lightening technology is resulting in its increasing applications in the different areas including households to the industrial and for this programmable LED drivers are in constant demand nowadays. Programmable LED drivers are gaining popularity from the past few years as using these drivers the efficient lightening solutions are established. Designers and assembly lines are personalizing the key output characteristics using the programmable LED drivers as it allows the modifications using programming. Applications of programmable LED drivers is expected to increase in different areas as these drivers help in efficiency improvement and are offered with advanced features, which is expected to fuel the growth of the programmable LED drivers market.
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Global Programmable LED Drivers Market: Drivers and Restraints
The fact that programmable LED drivers allow the user to control the input and output voltage as well as current and their availability in the wired as well as wireless forms, which is expected to fuel the demand for programmable LED drivers. In addition to this, users can manage the dimming curve for matching the output from the existing luminaires and also programmable LED drivers introduce the flexibility in the platform for new luminaire designs. Programmable LED drivers market is expected to grow at a significant rate over the forecast period due to availability of the advanced features such as auto programming, grouping, step dimming, dim-to-off, DMX address, and others. Manufacturers of the programmable LED drivers are increasingly focusing on development of the drivers as per the industry standards to increase the sale of the programmable LED drivers, which is also expected to drive the demand for programmable LED drivers over the forecast period. The other benefits of using the programmable LED drivers including reducing design time, lead time and inventory are some of the other factors responsible for growing demand for programmable LED drivers over the forecast period. On the other hand, lack of awareness regarding the programmable LED drivers applications in the developing and underdeveloped countries and higher prices are major factors expected to hinder the growth of the market for programmable LED drivers.
Global Programmable LED Drivers Market: Segmentation
The global programmable LED drivers market is segmented on the basis of sales channel, applications, and regions.
Segmentation Based on Sales Channel:
On the basis of sales channel, the programmable LED drivers market is segmented into OEMs (original equipment manufacturers) and aftermarket.
Segmentation Based on Application:
On the basis of application, the programmable LED drivers market is segmented into the areas where programmable LED drivers are used for controlling the lightening appliances. Based on application, the programmable LED drivers market is segmented into office lighting, shop/retail lighting, hospitality and decorative lighting, industrial lighting, outdoor lighting, and others.
Segmentation Based on Region:
On the basis of region, the programmable LED drivers market is segmented into North America, Latin America, Europe, Eastern Europe, CIS & Russia, Japan, and MEA.
Global Programmable LED Drivers Market: Key Players
Examples of some of the key players in the global programmable LED drivers market include Efore Group, MOONS’, MOSO, Hatch Lighting, FULHAM, Koninklijke Philips N.V., Hangzhou Moonlight Box Technology Co., Ltd., and Ningbo Luxdator Electrical Co., Ltd., among others. Programmable LED driver manufacturers are continuously focusing on innovations in their products. This strategy is followed by key programmable LED driver manufacturers for sustaining themselves in the increasing global competition. In addition to this, programmable LED driver manufacturers are focusing on delivering programmable LED drivers to different industries as per their product requirements. In addition to this, the companies are focusing on launching new products to increase the customer base and generate revenue. For example, in February 2017, MOSO launched LHP series, a series of programmable LED drivers. These drivers are offered by company with the warranty period of 5 years, IP67, and these are output programmable using the software.
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Global Programmable LED Drivers Market: Region Wise Outlook
Considering the demand for the programmable LED drivers the APEJ region is expected to grow at significant CAGR over the forecast period due to increasing government initiatives such as smart cities, which is parallel fuelling the demand for smart lights and hence programmable LED drivers. North America and Europe are expected to hold major market shares in terms of revenue generation from the sale of programmable LED drivers as its application in the hospitality and decorative lighting is increasing rapidly in developed countries present in these regions such as the U.S., U.K., and Germany. The demand for programmable LED drivers in Japan and CIS & Russia is expected to increase over the forecast period due to its use in industrial lighting. On the other hand, the MEA programmable LED drivers market is expected to grow at moderate CAGR over the forecast period due to less adoption rate for the more technologically advanced products.
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