Ready Yourself for Challenges in the Time of COVID-19. Here’s What Stakeholders Need to Know About the Evolving Global LED Driver for Lighting Market
The global market for LED Driver for Lighting is projected to reach US$37.4 billion by 2025, driven by internet of Things (IoT) and expanding applications of smart lighting in smart cities, Industrial Internet of Things (IIoT), healthcare, intelligent transportation, and smart homes.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global LED Driver for Lighting market. The segments covered in the study include Luminaire Type (Type A-Lamps, T-Lamps, Integral LED Modules, and Other Luminaire Types); Driving Method (Constant Current LED Driver, and Constant Voltage LED Driver); End-Use (Commercial Lighting, Industrial Lighting, Residential Lighting, Outdoor & Traffic Lighting, and Other End-Uses) ).
10 June 9:05 A.M., California/Marketwire/ - According to the new market research report, the global market for LED Driver for Lighting is projected to reach US$37.4 billion by 2025, driven by internet of Things (IoT) and expanding applications of smart lighting in smart cities, Industrial Internet of Things (IIoT), healthcare, intelligent transportation, and smart homes. Smart lighting is emerging to be an integral part of smart city investments supported by benefits and value creation such as increased energy efficiency and low city energy budget by over 50%; sensors in smart lighting can also help provide new capabilities such as monitoring public and traffic for safety, crime detection and security reasons; remote lighting management and control; improve service reliability when smart street lights are deployed via platform-as-a-service solution; and increased citizen satisfaction.
In the 4.0 space, connected lighting is the starting point for smart factories to leverage benefits such as immediate ROI, lower operational costs, improve worker productivity and better building management. In healthcare facilities, smart lighting has the potential to improve patient health with new research evaluating the impact of light`s spectral intensity on body temperature, and patient behavior. In intelligent transportation systems, IoT enabled smart road lighting allows for improved road safety, while smart traffic light control system with phased lighting capable of dynamically changing based on traffic density can enable more efficient traffic management. As consumer IoT gains momentum and smart homes become more widespread, smart lights will gain in demand for energy savings; easy-to-use light customization; remote operation and control; comfort and convenience benefits.
IoT compatible LED drivers are growing in demand against the backdrop of rising popularity and growing penetration of IoT based smart lighting systems. Developments of new standards to address this very need bode well for growth in the market. In the year 2018, the IoT-Ready Alliance released a new standard for ensuring LED driver compatibility with IoT. The "V1 Specification" is an IoT-ready interface specification that addresses all mechanical, electrical and software interfaces for lighting controls for IoT. V1.0 offers compatibility with wired and wireless network topology i.e. IP/Ethernet, Bluetooth Low Energy (BLE), Zigbee, Z-Wave, or Wi-Fi and provides technical specifications for sockets capable of allowing IoT sensors or control modules to connect seamlessly to a luminaire.
Key Competitors Covered in the Report
General Electric Company
Koninklijke Philips NV
Maxim Integrated Products Inc.
ON Semiconductor Corporation
Texas Instruments Inc.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 4772. Among this pool, 859 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 143 unique participations, a total of 64 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.