Energy savings to grow LED driver market to $25B by 2022, says report
Energy savings is the real growth driver, with residential lighting expected to lead the LED driver market for lighting end-user applications. Increasing demand for LED lighting by households for improving the energy consumption is driving the growth of the LED driver market for lighting in the residential sector.
Outdoor & traffic has been one of the early adopters of LEDs; due to the huge electricity savings, they bring with respect to the investment. Outdoor & traffic lighting include roadway lighting, street lights, highway and tunnel lighting, and so on. The recent push by emerging economies such as India and China toward energy efficiency is the key factor for the growth of the LED driver market for outdoor & traffic lighting.
Integral LED modules have a single or a string of LED source which are integrated with the LED driver. The integral LED modules are being accepted as the most energy-efficient mode of lighting due to their relative ease of installation since they are pre-integrated with LED drivers.
The market in APAC is expected to grow at the highest CAGR between 2016 and 2022 because of the increasing penetration in the highly populated emerging economies such as India and China. The government and regulatory bodies in these countries have been encouraging the usage of LEDs for lighting to reduce the greenhouse emissions and also reduce overall energy bills.
The report “Led Driver Market for Lighting by Driving Method (Constant Current, Constant Voltage), End User (Residential, Commercial, & Others), Luminaire Type (A Type Lamps, T Lamps, & Others), and Geography – Global Forecast to 2022” analyzes the market trends for each of the segments and their respective growth rates.
The key players in the market are Osram GmbH, Harvard Engineering, Texas Instruments, Maxim Integrated, Macroblock, Atmel, General Electric, Cree, and Rohm Semiconductors (Japan).
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