LED Driver and Chipset Market Projected to Expand at Whopping 23.2% CAGR between 2015 and 2021
Top companies in the global LED driver and chipset market, namely Advanced Analogic Technologies Inc., Ixys Corp., and Diodes Inc. are focusing aggressively on product differentiation for competitive edge, finds Transparency Market Research (TMR). These companies are vying to offer technologically advanced products by means of extensive research and development initiatives. For example, introduction of differentiator products such as LED drivers that are able to control fluctuations in heat and current are adding value to the product portfolio of its manufacturer. As per a market and business intelligence study by TMR, the global LED driver and chipset market is projected to clock a phenomenal 23.2% CAGR over the forecast period between 2015 and 2021. Rising at this rate, the market’s valuation of US$2.80 bn in 2014 is poised to become US$11.99 bn by the end of 2021. By application, LED display witnesses higher demand over LED lighting; the LED display segment is anticipated to r...