Matty Louise
by on September 19, 2023
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The LED Driver Market is expected to register a CAGR of 18.1% during the forecast period. LED drivers have become the bottleneck of LED lighting, both in terms of size and reliability. They provide fundamental advantages for LED lighting with smaller form factor, higher reliability, and improved efficiency over the dimming curve. The increasing energy efficient policies by federal government and councils across nations have deliberately motivated the investments in energy-efficient practices and technologies. The display devices, such as smartphones, tablets, laptops, and television have widely adopted LED backlighting systems due to their low power consumption, small and thin packing ability. Despite their wide adoption, the manufacturers are continuing to invest in backlighting systems to enhance the user experience.

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The global LED Driver market is estimated to grow majorly on account of the rising deployment of surveillance systems for security and safety reasons. Infrared LEDs can help increase motion recognition precision by offering additional brightness and improving the camera’s capacity to detect moving objects in low-light conditions. LEDs emit light that is invisible to human eyes but detectable by the camera’s image sensor. Around 770 million security cameras were installed in 150 major cities worldwide as of May 2021. Furthermore, the ADAS system in cars is becoming quite popular which further augments the market growth. In ADAS applications, infrared LEDs can be used in proximity sensors. These LEDs emit light, which is detected by the sensor.

Besides this, the rising development of smart cities and higher deployment of smart home devices is expected to drive market growth. IR LEDs can be connected to smart home controllers’ home automation hubs. These hubs serve as central management components for a wide range of smart gadgets in the home, such as televisions, music systems, and other IR-enabled devices. Moreover, infrared LEDs can be employed in smart lighting systems found in smart cities. The world will likely have 43 large smart cities with populations of more than 10 million people by 2030, most of which will be in developing countries. Furthermore, higher development in infrared LED technology will drive market growth.

Some of the major growth factors and challenges that are associated with the growth of the global infrared LED market are:

Growth Drivers:

· Surging Need for Security Cameras

· Rising Demand for Smart Home Devices

Challenges:

LED is not compatible with every device because there are no standards for its engineering, this poses challenges to its interoperability, and the manufacturing cost of IR LED is really high. These are some of the major factors anticipated to hamper the global market size of infrared LED. Cost can be a significant barrier to the widespread adoption of LEDs. Manufacturing LEDs with high efficiency and reliability can be complex and expensive, limiting their affordability for some applications. Streamlining manufacturing processes and reducing production costs is a challenge that the industry needs to address. On the other hand, there are various other alternatives introduced in the market, which are also expected to impede the market growth.

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On the basis of spectral range, the global LED driver market is further fragmented into short-wave, medium-wave, and long-wave. The medium-wave segment is to accumulate the greatest market share by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the segment is credited to the rising use of friend-or-foe identification systems in the defense sector.LEDs are used in these systems to emit unique identifying codes or signals that can be recognized by related IR sensors or receivers. On the other hand, based on application, the market is further fragmented into imaging, surveillance, biometrics, lighting, and remote sensing. Out of all, the surveillance segment is expected to dominate the market growth over the forecasted time frame.

Further, the market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The advancement in healthcare and medical technologies is increasing the demand for LEDs in Europe. LEDs are increasingly used in medical devices and equipment for applications such as pulse oximetry, non-contact temperature measurement, and phototherapy.

Consult our expert analysts at: [email protected] or contact us at: https://www.researchnester.com/contact for any customized report.

This report also provides the existing competitive scenario of some of the key players of the global infrared LED market which includes company profiling of Epista Corporation, Lite-On Technology Corp, Ams-Osram AG, Ushio America, Inc., Vishay Intertechnology, Inc., Lextar Electronics Corp., Luminous India, Lumileds Holding B.V, Kingbright Company, LLC, and GJD Manufacturing Ltd.

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at the right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

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