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IMARC Group, a leading market research company, has recently releases report titled “LED Driver Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global LED driver market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
The global LED driver market size reached US$ 10.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.8 Billion by 2028, exhibiting a growth rate (CAGR) of 19.31% during 2023-2028.
A light-emitting diode (LED) driver refers to an electrical circuit that is utilized for regulating the voltage of a string of LEDs or an LED. It is a specialized power supply system that aids in controlling the power level required by LEDs. It is generally classified into internal and external LED drivers, wherein internal drivers are usually inbuilt in domestic bulbs and external drivers are equipped with roadways and commercial lighting systems. It is easy to use, reliable and offers an excellent electromagnetic compatibility (EMC) performance in a cost-efficient manner.
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The global market is primarily driven by the escalating demand for LED lighting solutions. This is supported by the rising awareness regarding sustainable development among the masses and the growing preference for energy-efficient lighting solutions. Along with this, increasing investments by private and public agencies in the development of smart city projects are also providing an impetus to the market growth. Moreover, numerous leading players are heavily investing in the replacement of conventional bulbs with LEDs in vehicles to offer excellent luminous efficiency for improving road safety. The market is further driven by the rising infrastructural development projects across the globe. Other factors, including continual product innovations, extensive research and development (R&D) activities conducted by key players and the emergence of digital-out-of-home (DOOH) advertising solutions, are further contributing to the market growth.
The report has segmented the market into the following categories:
Breakup by Component:
Breakup by Luminaire Type:
Breakup by Supply Type:
Breakup by End User:
Breakup by Region:
The report covers the major market players including:
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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