Global LED Driver Market is Projected to Reach $79.33 Billion by 2030, at a CAGR of 27.2%

Allied Market Research recently published a report titled, “LED Driver Market by Luminaire Type (Decorative Lamps, Reflectors, Type A Lamp and Others) Supply Type (Constant Current and Constant Voltage) Component (Driver IC, Discrete Components, and Others), and Industry Vertical (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021–2030.’’ According to a report, the global LED driver industry size was valued at $7,400.1 million in 2020, and is projected to reach $79,333.3 million by 2030, registering a CAGR of 27.2% from 2021 to 2030. The Type A Lamps accounted highest market share than other luminaire type in 2020 and is expected to maintain this trend during the forecast period.

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The LED driver market is competitive, owing to strong presence of existing vendors. LED driver vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.

The LED driver market holds a substantial scope for growth on a global scale. Its contribution to the market is anticipated to increase significantly within the span of the forecasted period. Recent discoveries and innovations have created vast opportunities for numerous players to step in the LED driver market.

Surge in adoption of energy-efficient lighting, increase in the development of programmable LED drivers, and rise in adoption of smart infrastructure in developing regions drive the market growth. High cost for the installation is the biggest limitation for the market growth.

Surge in competition and reduced awareness among small scale manufactures are the key factors that hamper the growth of the market. Increase in awareness for need of LED driver and rise in concern for LED protection are opportunistic for the growth of the market growth.

Covid-19 scenario-

COVID-19 has caused the overall semiconductor industry to mobilize quickly and make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers & partners across the globe.
COVID-19 is expected to further push the need for digital transformation and technologies, such as 5G, IoT, AI, and intelligent edge computing, for future optimization.
Some of the automotive LED driver manufacturers have witnessed temporary delays in LED driver production, increased costs, and revenue losses due to the pandemic.

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Key market players in the LED driver Market:

The market report doles out the reference of the major player in the market including Texas Instruments, Osram GmbH, Maxim Integrated, Atmel Corporation, General Electric Company, ROHM Semiconductors, Macroblock Inc., ON Semiconductor, Cree, Inc., and AC Electronics.

These players have taken recourse to essential strategies including alliance, collaboration, development, joint ventures, and others to heighten their stance in the industry.

The study on the global LED driver Market incorporates 250+ pages report that offers noteworthy information along with underscoring the drivers, restraints, and opportunities of the market. The study also aims to proffer a comprehensive information on the recent market leanings, movements, approaches, and stratagems espoused by the market players in the global LED driver Market. The report encompasses both the projected as well as historical data throughout the forecast period along with other facets including product outline and growth opportunities.

The report provides an extensive segmentation of the global LED driver Market on the basis of type, applications, end users, and region. Thorough analysis of each section and sub-section is offered in the research with the help of horizontal and graphical depiction. This breakdown is helpful in assessing the fastest growing segments and establishing strategies to attain sustainable growth.

LED driver Market Geographical Analysis:

The report also provides a regional analysis of the market along with the competitive setting in each region. The research report encompasses regions including North America (the United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa). These segmentations aid the market players in framing respective tactics, thus leading way to lucrative opportunities to attain their objectives.

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Our Report provides:

• Thorough inquiry of market assessments for all the segments
• Detailed market examination from the viewpoint of the frontrunners in the industry
• Tactical slants and approaches incorporated by new entrants
• Market forecasts on regional base for the next few years
• Competitive exploration of the present LED driver Market trends
• Profiling of companies along with their exclusive strategies

Key Market Segments
By Luminaire Type
• Decorative Lamps
• Reflectors
• Type A Lamp
• Others
By Supply Type
• Constant Current
• Constant Voltage
By Component
• Driver IC
• Discrete Components
• Others
By Industry Vertical
• Residential
• Commercial
• Industrial
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Germany
o France
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o Singapore
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa

Read More at https://www.alliedmarketresearch.com/led-driver-market

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