Market Research Report
LED Driver for Lighting
|Published by||Global Industry Analysts, Inc.||Product code||908013|
|Published||Content info||661 Pages
Delivery time: 1-2 business days
|LED Driver for Lighting|
|Published: July 1, 2020||Content info: 661 Pages||
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 rapidly growing industry 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. The launch of the new standard is a major step forward for LED drivers and is expected to expand rapid commercialization of IoT enabled lighting solutions by supporting and encouraging simplicity of implementation, lowering-cost, and driving interoperability which is vital for industry-wide acceptance of any technology. The growing value of smart lighting will create opportunities for innovative LED drivers capable of supporting advanced sensing, control algorithms, dynamic spectral light reproduction, and different wireless communication systems to ensure deployable, scalable, and autonomous lighting solutions compatible with the IoT ecosystem. The United States, China and Europe represent large markets worldwide with a combined share of 63% of the market. China also ranks as the fastest growing market with a CAGR of 28.2% over the analysis period supported by the country`s large-scale and rapid digitization induced urbanization. The Chinese government has set its goals on achieving modern, data-based and intelligent social governance where human centric lighting will play a key role.