LED Driver Market Is on Track to Reaching $62,147.8 Million by 2030

An LED driver is a standalone power source that controls the power needed for a single LED or an array of LEDs since light-emitting diodes require specific power sources since they are low-energy lighting technologies with long longevity and low energy consumption.

The LED driver market will hit a $62,147.8 million value by 2030. This is credited to the growing manufacturing and usage of energy-efficient LED drivers and surging advancements in components of lighting.

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As technology advances, organic LEDs are created and used, and bend headlamp LEDs are preferred for their sophisticated forward lighting system technologies.

The automotive industry is concentrating on replacing halogen lights with LEDs as new car sales are booming and damaged lights need to be replaced.

Features of LED Drivers

• High Performance

Since LEDs are energy-efficient goods, the driving power supply's efficiency should be excellent. The design of the LED drive power output in the lamp is especially crucial for power supply installation.

• Power Factor

The electrical grid's demand for the load is the power factor. For electrical equipment under 70 watts, no necessary indications are often required. However, a single electrical device with little power and a reduced power factor has little impact on the power grid.

• Surge Safety

LEDs are not very good at withstanding surges, especially with withstanding reverse voltage. Therefore, it is crucial to improve security in this sector.

As the load on the grid increases and lightning strikes increase, other surges will enter the grid system. Some of these surges will harm the LED. The LED driving power supply must thus be able to prevent surges from entering and harming the LED.

Growing Count of Smart City Construction

Governments from all over the world are putting their money into smart city projects, putting a special emphasis on cleaner transportation, smarter buildings, and other cutting-edge technology.

The development and development of smart building projects are further supported by the rise of 5G technology, rapid urbanization, a spike in attention to decreasing operating expenditures, and building performance monitoring.

Additionally, incorporating cutting-edge IoT technologies in LED provides superior lighting in various locations. It makes it simple to operate and check on the operation of lights from any place at any time.

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Controlling lights is made easy with the plug-and-play module and online connectivity. IoT reduces maintenance costs by enabling businesses to verify the lights' working state. As a result, these increases both the global demand for LEDs and their drivers.

How Will APAC Region be on Top?

With a 40% LED driver market share, APAC dominates the sector and is expected to keep that position in the future. The main causes are the supportive government programs to encourage energy-efficient lighting and the rising number of infrastructure projects.

North America and Europe were the market's second and third-largest revenue contributors, respectively. This might be attributed to the increasing adoption of lighting systems in business and industry, notably in the automobile industry.

To reach the Net Zero by 2050 plan 2030, numerous countries are focusing on increasing LED sales to over 100% by 2025. This is because the LEDs replacing such bulbs are said to use 5 times less energy than the original bulbs.

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This release was published on openPR.