Global LED Driver and Chipset Market: Industry Analysis and Forecast (2019-2026)
Continuously increasing demand for energy leading to increasing carbon footprint is promoting the acceptance of energy-saving LED technology. This is driving the demand for LED driver and chipset. The LED technology finds extensive applications in lighting and display solutions. The LED drivers are essential components for augmenting the performance of LED lights. These factors are cooperatively driving the LED driver and chipset market. Furthermore, subsidy obtainable on LED devices by several governments is prompting consumers to replace conventional lighting with LED lighting solutions. This is boosting the LED driver and chipset market considerably.
However, high preliminary capital involved for setting up a facility for the production of LED drivers and chipsets may limit their adoption in the future, challenging the growth of this market. The absence of knowledge among consumers about the advantages of LED lighting over traditional lighting solutions is also expected to challenge the growth of the LED driver and chipset market to some extent.
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Last Update : Jul 29, 2021 10:20 AM
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