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Global LED driver & chipset market to grow at CAGR 23.2% by 2021

Global LED driver & chipset market to grow at CAGR 23.2% by 2021

By BizLED Bureau

Feb1, 2017: According to a Transparency Market Research report, the global LED driver and chipset market is projected to expand at a remarkable CAGR of 23.20% during 2015-21.

The report states that the outstanding growth of the overall LED market in recent times will push the value of the LED driver and chipset market from US$2.8 billion in 2014 to US$11.9 billion in 2021. The rising awareness among consumers about reducing the overall carbon footprint and the replacement of conventional fluorescent lamps with LED lamps is also likely to boost the LED driver and chipset market in the coming years.

Market is bifurcated into lighting and display

On the basis of application, the LED driver and chipset market is bifurcated into lighting and display. The display segment presently dominates the overall market and is forecast to register a 23.0% CAGR from 2015 to 2021. This segment is fueled by the rising demand for superior picture quality. The lighting segment is projected to develop at a 24.10% CAGR during the forecast period, emerging as the most rapidly growing application segment.

Segments of LED driver and chipset market

The global LED driver and chipset market is segmented on the basis of geography into Europe, North America, Asia Pacific, and Rest of the World. Asia Pacific dominates the overall market and is projected to expand at an impressive 23.40% CAGR from 2015 to 2021, emerging as the fastest growing regional market for LED drivers and chipsets. One of the most significant factors fueling the APAC market is the rapid growth of the overall LED market. The governments in countries such as Japan and China have taken many steps to replace conventional lighting in public and private settings and focus more on display technologies that can minimize carbon emissions. In addition, the rise in disposable incomes and the cost-effectiveness of LEDs have contributed to the surging demand for LED lighting. This in turn has fueled the Asia Pacific LED driver and chipset market. North America is the second largest market in terms of revenue and is driven by stringent government norms to reduce carbon emissions and the rising demand for efficient power solutions.

Prominent companies

Some of the prominent companies functioning in the global LED driver and chipset market are Texas Instruments, INC., Nxp Semiconductors NV, Stmicroelectronics N.V., Maxim Integrated Products, INC., Exar Corp., Infineon Technologies AG, Fairchild Semiconductor, Diodes, INC., Advanced Analogic Technologies, INC., and Freescale Semiconductor, INC. These players are profiled in the LED driver and chipset market report based on aspects such as company and financial overview, business strategies, and recent developments. A SWOT analysis sheds light on the strengths, weaknesses, opportunities, and threats of each company.

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