The global peripheral drivers market is expected to reach USD 19.68 billion by 2022, according to a new report released by Market Research Future (MRFR). This market is estimated to expand at a CAGR of 10.5% during the forecast period from 2017 to 2022. Peripheral drivers are used to control the voltage and current of a load, as well as to regulate its temperature. Peripheral drivers are used in a wide range of applications including consumer electronics, automotive, industrial and medical.
The increased need for energy efficient systems, growing penetration of LED lighting, and rising demand for consumer electronics are the major drivers of the peripheral drivers market. Increasing the use of LED lighting in manufacturing and residential applications is expected to boost the demand for peripheral drivers in the near future. However, the availability of alternative solutions and high initial costs of these drivers are expected to restrain the growth of this market during the review period.
The global peripheral drivers market has been segmented based on type, end-user, and region. On the basis of type, the peripheral drivers market has been classified into AC/DC, DC/DC, and others. The AC/DC driver segment is expected to dominate the global peripheral drivers market due to its wide application in consumer electronics, industrial, automotive and medical equipment. The DC/DC driver segment is projected to grow at the highest CAGR during the forecast period due to its increasing demand from consumer electronics and automotive manufacturers.
On the basis of end-user, the peripheral drivers market has been segmented into consumer electronics, automotive, industrial, and medical. The consumer electronics segment is expected to account for the largest share in the global peripheral drivers market. This can be attributed to the increasing demand for consumer electronics such as smartphones, tablets, and other portable devices. The automotive segment is expected to witness the highest CAGR during the forecast period due to the growing demand for automotive lighting solutions and advanced driver assistance systems (ADAS).
The global peripheral drivers market has been segmented into four major regions: North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to dominate the global peripheral drivers market due to the presence of major players such as Monolithic Power Systems Inc., Texas Instruments, Inc., and Diodes Incorporated. Europe is expected to witness healthy growth during the forecast period due to the increasing demand for energy efficient solutions.
The Asia Pacific region is expected to be the fastest growing regional market for peripheral drivers due to the increasing demand for LED lighting solutions in low-cost consumer goods. The presence of major companies such as Samsung Electronics Co. Ltd. and LG Electronics Inc. is expected to drive the growth of the regional market.
The key players operating in the global peripheral drivers market are Monolithic Power Systems Inc., Texas Instruments Inc., Diodes Incorporated, STMicroelectronics N.V., Advanced Micro Devices Inc., NXP Semiconductors N.V., Infineon Technologies AG, ON Semiconductor Corporation, Vishay Intertechnology Inc., and Toshiba Corporation. These companies are focusing on product innovation, strategic mergers and acquisitions, and partnerships to gain a competitive edge in the market.