LED Driver Market for Lighting Worth 24.98 Billion USD by 2022

PUNE, India, April 29, 2016 /PRNewswire/ --

According to a new market research report "Led Driver Market for Lighting by Driving Method (Constant Current, Constant Voltage), End User (Residential, Commercial, & Others), Luminaire Type (A Type Lamps, T Lamps, & Others), and Geography - Global Forecast to 2022", published by MarketsandMarkets, the total market is expected to reach USD 24.98 Billion by 2022, at a CAGR of 26.3 % during the forecast period.

     (Logo: http://photos.prnewswire.com/prnh/20160303/792302 )

Browse 75 market data Tables and 66 Figures spread through 153 Pages and in-depth TOC on "Led Driver Market for Lighting"

http://www.marketsandmarkets.com/Market-Reports/led-driver-ic-390.html
Early buyers will receive 10% customization on this report.

Growing demand for LED lighting due to greater focus on energy savings within the general lighting applications is expected to drive the market.  

Residential lighting is expected to lead the LED driver market for lighting end-user applications 

Increasing demand for LED lighting by households for improving the energy consumption is driving the growth of the LED driver market for lighting in the residential sector. Outdoor & traffic has been one of the early adopters of LEDs; due to the huge electricity savings, they bring with respect to the investment. Outdoor & traffic lighting include roadway lighting, street lights, highway and tunnel lighting, and so on. The recent push by emerging economies such as India and China toward energy efficiency is the key factor for the growth of the LED driver market for outdoor & traffic lighting.

The LED driver market for integral LED modules is expected to exhibit high growth during the forecast period 

Integral LED modules have a single or a string of LED source which are integrated with the LED driver. The integral LED modules are being accepted as the most energy-efficient mode of lighting due to their relative ease of installation since they are pre-integrated with LED drivers. Most of the new installations of LED lighting systems are based on LED modules. LED modules can be used for a wide ranging applications covering residential, commercial, and outdoor & traffic lighting. The reason being LED lighting systems have a higher shelf life compared to traditional incandescent lights and also it's highly cost-effective in the long term.