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Global LED street light drivers Market Projected to Augment at a Notable CAGR during the Forecast Period until 2028 // Analog Devices, Inc., STMicroelectronics, Infineon Technologies, ams AG, Taiwan Semiconductor, Renesas Electronic, and ROHM Semiconducto
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Therefore, the demand for LED street light drivers is growing in residential and industrial applications. Furthermore, with the increased demand for high-power semiconductors, the load on the power equipment has increased, and due to this, the need for semiconductor devices that can operate in a high-temperature and high-voltage environment is growing rapidly.
LED street light drivers have become the choice for most of the next-generation power semiconductor devices and high-temperature semiconductor devices and are quickly replacing the conventional incandescent bulbs. Lighting controllers are devices which assist in controlling lights via sensors and dimmers and these LED street light drivers are now widely used in commercial, industrial, and residential applications, to provide the right amount of light where and when it is needed. Furthermore, the growing demand for LED street light drivers to deliver advanced and better lighting services is fuelling the growth of the LED street light drivers market.
Global LED Street Light Drivers Market: Drivers and Challenges
Drivers
The increasing number of smart cities projects and on-going smart city projects in various countries around the world is the primary factor which is fuelling the growth of LED street light drivers market.
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Also, various countries are witnessing a drift towards rapid urbanization, and an increase in penetration towards the adoption of smart and intelligent technology solutions and due to this, the adoption of smart and intelligent technology solutions has increased the demand for LED street light drivers for better and advanced lighting infrastructure. Moreover, the demand for LED street light drivers is growing rapidly as these drivers are capable of providing efficient performance even in low maintenance.
Challenges
In the recent past, it has been observed that countries in various regions such as North America, Asia Pacific, and Western Europe are changing import tariffs and taxes imposed on electronic instruments and consumer electronic products, which is a factor affecting the sale of semiconductors and related electronic devices in these regions. Apart from this, lack of awareness towards the modern and smart lighting fixtures is also one of the factors which hampers the growth of the LED street light drivers market. Apart from this, high installation cost of LED street light is also hindering the growth of LED street light drivers market.
Global LED Street Light Drivers Market: Segmentation
Segmentation of the LED street light drivers Market on the Basis of Type:
Isolated LED street drivers
Non-isolated LED street drivers
Segmentation of the LED Street Light Drivers Market on the Basis of Application:
LED street lamps
Tunnel lights
Flood lights
Others
Global LED Street Light Drivers Market: Competition Landscape
Key Players
Examples of some of the prominent players operating in the global LED street light drivers market are Fuhua Electronic Co. Ltd., Texas Instruments, ON Semiconductor, Diodes Incorporated, NXP Semiconductors, Analog Devices, Inc., STMicroelectronics, Infineon Technologies, ams AG, Taiwan Semiconductor, Renesas Electronic, and ROHM Semiconductor.
Global LED street light drivers Market: Regional Overview
Geographically, Asia Pacific is expected to be a large market for LED street light drivers due to the increasing demand for LED street light drivers in industrial, power, solar & wind sector for power applications and presence of various key players in the region. The demand for LED street light drivers in North America and Europe is expected to grow rapidly in the coming few years due to the increasing number of smart cities projects and development in lighting infrastructure of various countries in the regions such as the U.S., Germany, France, and the U.K. The LED street light drivers markets in Latin America and the MEA are also expected to witness high growth rates in the coming period due to the high adoption of LED street light drivers in various industrial and commercial applications.
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