According to a new market report published by Transparency Market Research “LED Driver and Chipset Market - Global Industry Analysis, Trend, Size, Share and Forecast, 2015 - 2021“, the global LED Driver and Chipset market was valued at US$2.80 billion in 2014 and is expected to reach US$11.99 billion by 2021, growing at a CAGR of 23.2% from 2015 to 2021.
The global LED Driver and Chipset market is primarily driven by increasing demand among the consumers for efficient power solution both in terms of display and lighting. LEDs outperform the traditional Cold Cathode Fluorescent Lamps (CCFLs) and Liquid Crystal Displays (LCDs) in term of size, energy efficiency, reliability and mechanical ruggedness both for displays and lighting applications. LEDs generate 100% of the National Television System Committee (NTSC) colors plus some extra colors in comparison with LCDs which generates only 70-80% of the NTSC colors. In addition, the operating cost of LEDs is low as compared to other lighting and display devices as LEDs produce more lumen per watt. Thus, more consumers are inclining towards the usage of LEDs which in turn is driving the growth of LED drivers and chipset market. Moreover, increasing awareness among the consumers regarding carbon footprints is also expected to fuel the demand of eco friendly LED devices which in turn is expected to boost the demand of LED Drivers and Chipsets offered by different LED product’s manufacturers. LEDs result in less carbon dioxide and Sulphur oxide emission (451 pound/ year) and help to keep the environment pollution free. Moreover, LEDs produces 90% less heat than incandescent and. CCFL bulbs.
The LED Driver and Chipset market is segmented on the basis of application and geography. The application segment is further bifurcated into display and lighting. By display, LED Driver and Chipset market is classified into: mobile phones, digital camera, television and navigation devices, medical devices, computer/laptop peripherals and others. Gaming devices, digital photo frames and MP3 players are included in the others segment. By lighting, the market can be segmented into outdoor areas and traffic signals, automotives, indoor lighting and commercial lighting among others. Geographically, the LED Driver and Chipset market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (ROW).
Among the different applications, lighting segment was the fastest growing market in 2014. The market is predicted to grow at a CAGR of 24.1% from 2015 to 2021 and accounted for 20.1% of the overall revenue share of LED Driver and Chipset market. By geography, Asia Pacific held the largest market share and is expected to be the fastest growing market expanding at a CAGR of 23.4%. Asia Pacific is mainly driven by China and Japan. The government in this region has taken several steps to phase out the usage of conventional lighting and display technology to reduce carbon footprints. This in turn is expected to increases the sale of LED appliances and is predicted to drive the growth of LED Driver and Chipset market during the forecast period. Advanced Analogic Technologies Inc, Diodes Inc, Exar Corp and Ixys Corp among others are some of the major players operating in LED Driver and Chipset market.