LED Driver and Chipset Market

LED Driver and Chipset Market are Focusing Aggressively on Product Differentiation
for Competitive Edge
Top companies in the global LED driver and chipset market, namely Advanced
Analogic Technologies Inc., Ixys Corp., and Diodes Inc. are focusing aggressively on
product differentiation for competitive edge, finds Transparency Market Research
(TMR). These companies are vying to offer technologically advanced products by
means of extensive research and development initiatives. For example, introduction of
differentiator products such as LED drivers that are able to control fluctuations in
heat and current are adding value to the product portfolio of its manufacturer.
As per a market and business intelligence study by TMR, the global LED driver and
chipset market is projected to clock a phenomenal 23.2% CAGR over the forecast
period between 2015 and 2021. Rising at this rate, the market’s valuation of US$2.80
bn in 2014 is poised to become US$11.99 bn by the end of 2021. By application,
LED display witnesses higher demand over LED lighting; the LED display segment is
anticipated to rise at 23.0% CAGR between 2015 and 2021 and continue to remain at
the fore. In terms of geography, Asia Pacific currently leads the LED driver and
chipset market and the scenario is anticipated to continue over the forthcoming
years.
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Uptake of LED Technology for Economic Advantages Fuels Growth
Across the world, incessantly increasing demand for energy leading to increasing
carbon footprint is promoting the uptake of energy-saving LED technology. This, in
turn, is fuelling the demand for LED driver and chipset. LED technology finds
widespread applications in lighting and display solutions. LED drivers are essential
components for enhancing the performance of LED lights. These factors are
collectively fuelling the LED driver and chipset market.
In addition, subsidy offered on LED devices by several governments is prompting
consumers to replace conventional lighting with LED lighting solutions. This is
boosting the LED driver nd chipset market considerably.
Rising investments by companies manufacturing LED devices and technological
advancements have led to sharp drop in prices of LED devices. This is positively
impacting the LED driver and chipset market. Strong presence of LED manufacturers
in emerging economies such as China, who are making investments to improve
technological expertise and production capacity is having a positive impact on the
LED driver and chipset market.
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High Initial Capital for Production Facility Crimps Growth
On the downside, high initial capital involved for setting up a facility for the
production of LED drivers and chipsets may limit their adoption in the future,
challenging the growth of this market. Lack of knowledge among consumers about
the advantages of LED lighting over traditional lighting solutions is also expected to
challenge the growth of LED driver and chipset market to some extent.
However, increasing demand for large and flashy LED displays such as billboards and
display screens for advertising, information purposes is likely to continue to support
the growth of LED driver and chipset market.

LED Driver and Chipset Market

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