According to a market report by Lucintel, the future of decorative lamps in the global LED driver market looks promising with opportunities in general lighting, automotive lighting, and backlighting applications. The global LED driver market in terms of decorative lamps usage is expected to reach an estimated $0.70 billion by 2028 with a CAGR of 11.8% from 2023 to 2028. The major drivers for this market are increasing demand for attractive illuminance for architectural, residential, retail, and hospitality purposes.
Constant current and constant voltages are the two supply type segments of decorative lamps in the global LED driver market. Lucintel forecasts that constant current is expected to witness a higher growth over the forecast period due to significant usage of these constant current based LED drivers in decorative lights.
Within this market, general lighting is expected to witness the highest growth over the forecast period due to extensive use of these decorative lights in commercial settings to provide clients with a soothing, inviting, and comfortable atmosphere.
North America is expected to witness the highest growth over the forecast period due to huge spending on these lights by malls and restaurants and growing adoption of creative decorative lighting among households in countries, such as the U.S., Canada, and Mexico.
ACE LEDS, Microchip Technology, Cree LED, GE Current, and Signify Holdings are the major decorative lamps suppliers in the global LED driver market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for decorative lamps in the global LED driver market by supply type, application, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities for Decorative Lamps in the Global LED Driver Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for decorative lamps in the global LED driver market by supply type, application, and region, as follows:
Decorative Lamps in the LED Driver Market by Supply Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Constant Current
Constant Voltage
Decorative Lamps in the LED Driver Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
General Lighting
Automotive Lighting
Backlighting
Decorative Lamps in the LED Driver Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for decorative lamps in the global LED driver market by supply type (constant current and constant voltage), application (general lighting, automotive lighting, and backlighting), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occur in the last five years and how did they impact the industry?