by The global linear LED driver market is set to experience substantial growth in the coming years, driven by the increasing adoption of LED lighting across various sectors, especially the automotive industry. Recent reports have highlighted key factors contributing to this growth, including the replacement of traditional lighting technologies with LED lights, the surge in LED penetration rates in both global automobiles and electric cars, and the rising use of linear LED drivers to enhance automotive features.
LEDs have come a long way since their inception over 50 years ago when scientist Nick Holonyak recognized their potential as a lighting source. The efficiency of LED lights, burning 90 percent more efficiently than incandescent bulbs, has played a pivotal role in their widespread adoption. Initially used in circuit boards and digital watches, LEDs gradually found their way into traffic lights, brake lights, and, more recently, into homes. Today, LEDs dominate the household lighting section in stores like Home Depot and Lowes, showcasing the significant growth prospects of the linear LED driver market.
What sets LEDs apart is their versatility and longevity. They are available in various shapes and sizes, from decorative chandelier bulbs to large outdoor lighting solutions. Unlike incandescent bulbs, LEDs remain cool to the touch, and unlike compact fluorescent lights (CFLs), they do not contain harmful mercury. These attributes, combined with their extended lifespan, make LEDs an economically sound choice for consumers.
The automotive sector, in particular, is witnessing a surge in demand for linear LED drivers, driven by the increasing use of small LEDs in various applications such as dome lights, interior lights, courtesy lamps, and fast-acting taillights. Developed markets like the United States and Europe have contributed significantly to the recent growth in the lighting market sector. Furthermore, China has emerged as a global manufacturing hub for LED products.
The global shift towards energy-efficient alternatives is another driving force behind the demand for LED lights and linear LED drivers. Governments worldwide are implementing initiatives to promote LED adoption, with a goal to have LEDs account for 100% of all lighting product sales by 2025 to meet the Net Zero mandate by 2050.
Apart from the automotive sector, the consumer electronics segment is also poised for significant growth in the linear LED driver market. LED panels are replacing traditional LCD screens in products like LED TVs and smartphones, offering superior visual quality, color accuracy, and lower power consumption. Additionally, IoT-based connected lighting solutions are gaining traction, with smart homes becoming more prevalent in developed countries.
In the Asia Pacific region, factors such as decreasing LED lighting prices, rising consumer living standards, and a well-established automobile sector in China are driving the linear LED driver market. Government initiatives to promote energy-efficient lighting further contribute to the regions growth.
India, in particular, stands out as a significant player in the APAC LED market, with LED penetration rates exceeding 60% by 2020. The Indian government is actively promoting LED adoption through initiatives like the replacement of 14 million streetlights with intelligent lighting control systems. Similar energy-efficiency projects are underway in North America, where LED lighting is gaining popularity in construction and automotive applications.
In the competitive landscape of the linear LED driver market, key players such as Texas Instruments Incorporated, OSRAM GmbH, Samsung Electronics, and Acuity Brands are making strategic moves to expand their portfolios and drive innovation.
With the increasing adoption of LEDs across industries and the growing emphasis on energy efficiency, the global linear LED driver market is set for substantial and sustained growth in the years to come.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/linear-led-driver-market
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COMTEX_441974715/2840/2023-10-16T11:33:31
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
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