TechNavio's analysts forecast the Global Light Emitting Diode Driver IC market to grow at a CAGR of 31.2 percent over the period 2011-2014. One of the key factors contributing to this market growth is the innovation in design. The Global LED Driver IC market has also been witnessing integration of more features into a single chip. However, the competing technologies could pose a challenge to the growth of this market.
Key vendors dominating this market space include Texas Instruments Inc., National Semiconductor Corp., Macroblock Inc., and Maxim Integrated Products Inc.
Commenting on the report, an analyst from TechNavio's Embedded Systems team said, In the current Global LED Driver IC market, chip manufacturers are moving towards integration of more features into LED driver ICs. Several functions or components can be integrated into a single LED Driver IC, e.g., in a mobile handset, the LED flash and backlight functions that were managed with multiple ICs earlier are now being integrated into a single IC.
For chipmakers making use of bipolar-CMOS-DMOS (BCD) processes, this trend towards integration provides an opportunity to integrate varied circuit essentials into the same chip.
According to the report, having identified the current state of the market as a business opportunity, LED driver IC manufacturers are now developing products that can accommodate several types of components, and can hence deliver design flexibility to various LED light bulb manufacturers.
This design flexibility is valuable, as it allows an LED light bulb manufacturer to shrink the inventory of parts by using the same driver IC in different LED light bulbs that have been custom-made for diverse markets. Due to the advantages of using such chips and also the vibrant nature of this market at present, numerous lighting manufacturers have already decided to adopt these LED driver ICs.
The report also discusses the key challenges to the growth of this market including competing technologies that are a threat to the revenues of LED and LED driver ICs.