LED Driver Market Growth Analysis

PORTLAND, OR, UNITED STATES, June 20, 2023/einpresswire.com / -- Allied Market Research published a report on the global LED driver market. According to a report, the global led driver market size was valued at $7,400.1 million in 2020 and is projected to reach $79,333.3 million by 2030, witnessing a CAGR of 27.2% from 2021 to 2030. The study provides insightful data, comprehensive statistics, and a thorough analysis of the market from 2021 to 2030.

It contains top market segments, market size and share analysis, key benefits, market landscape including top investment pockets and winning strategies, Porters Five Forces Analysis, market dynamics such as drivers, restraints, and opportunities, and COVID-19 impact analysis, as well as business growth prospects and competitive analysis. It encourages businesses to make sound decisions in order to achieve their objectives and long-term success.

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Prime Determinants of Growth:

As per the report by Allied Market Research, the global LED driver market is experiencing growth due to the factors such as a rise in adoption of energy-efficient lighting, surge in the development of programmable LED drivers, and rise in adoption of smart infrastructure in developing regions. However, the high cost for the installation restrains market growth to some extent. Nevertheless, emergence of IoT enabled lighting solutions will create ample growth opportunities in the upcoming years.

Market Synopsis:

The study highlights the factors such as drivers, restraints, and opportunities of the global LED driver market. It assists businesses to understand the forces that influence consumer purchasing decisions and cause the market to grow. The Porter's Five Forces Analysis included in the research help businesses analyze the industry's weaknesses and strengths, structure, and level of competition within the market.

COVID-19 Impact:

The outbreak of the COVID-19 pandemic had a negative impact on the global LED driver market owing to the implementation partial and complete lockdown among countries to restrict the pandemic. The“new norms” that includes social distancing and working from home created challenges with daily activities, regular work, needs, and supplies, causing delayed initiatives and missed opportunities.

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Segmental Analysis

The report also discusses the segments and subsegments of the global LED driver market based on Luminaire Type, Supply Type, Component, Industry Vertical, and region. It also analyzes the major shareholding segments and the fastest growing segment in the base year and forecast period.

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 (U.S., Canada, Mexico)
. Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
. Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
. LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)

Competitive Landscape:

The report further analyzes the competitive landscape of the global LED driver market. It covers information about the strengths, product portfolio, market size and share analysis, business performance, and market positioning of the leading market players that are operating in the sector. It involves the strategies adopted by the players to grow and expand their presence by entering into agreements and tapping new business sectors. Other strategies adopted by players include mergers and acquisitions, joint ventures, and product launches.

Some of the prominent players of the global LED driver market include, SMART GLOBAL HOLDINGS, INC. (CREELED, INC.), ON SEMICONDUCTOR CORPORATION (ONSEMI), AC ELECTRONICS, AMS OSRAM, ROHM CO., LTD. (ROHM SEMICONDUCTOR), TEXAS INSTRUMENTS INC., MACROBLOCK, INC., HATCH LIGHTING, MAXIM INTEGRATED PRODUCTS, INC., and MICROCHIP TECHNOLOGY INC. (ATMEL CORPORATION)

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Research Methodology:

The research makes use of primary and secondary research to collate information about several aspects of the global LED driver market. Primary market research has been used to collect highly validated and authentic data from direct sources such as customers in a specific market via interviews or surveys. Secondary market research has been used to gather information from previously published data compiled by government and research agencies, industry associations, international organizations, and other organizations.

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