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LED driver ic market still keep growing quickly by 2022

Increasing market demand for LED lights for the purpose energy saving is stimulating the growth of the LED driver ic market for LED lighting in the residential sector. Outdoor & vehicle led light has been one of the early applications of LEDs; because of the huge electricity savings, they attract the attentions of investment. Outdoor & traffic lighting include roadway lighting, street lights, highway and tunnel lighting,LED work lights, LED headlamps and so on. The recent push by emerging players such as India and China toward energy efficiency is the important factor for the growth of the LED driver ic market for outdoor & automotive led lighting.

LED Driver ic Market for LED Lighting worth 24.98 Billion USD by 2022

Integral LED modules have a single or a string of LED source which are combined with the LED driver ic. The integral LED modules are being accepted as the most environment-friendly way of lighting due to their relatively simple installation since they are pre-installed with LED driver ics. Most of the new installations of LED lights are based on LED modules. LED modules can be used for a wide applications covering residential, commercial, and outdoor & automotive LED lighting. The LED lighting systems have a higher shelf life compared to traditional incandescent lights and also it is highly cost-effective finally.

The market in APAC is anticipated to grow at the highest CAGR between 2016 and 2022 because of the increasing penetration in the highly populated neweconomies such as India and China. Their government and regulatory bodies have been encouraging the usage of LED lights to reduce the greenhouse emissions and also reduce overall energy bills.

For example, the key players in the global market are Osram GmbH (Germany), Texas Instruments, Inc. (U.S.), Maxim Integrated, Inc. (U.S.), Epistar (Taiwan), Philips Lumileds LED (Holland), General Electric (U.S.), Cree, Inc. (U.S.), and Rohm Semiconductors (Japan),etc.

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