LED Driver Market

Market Overview:

The global LED driver market size reached US$ 10.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.8 Billion by 2028, exhibiting a growth rate (CAGR) of 19.31% during 2023-2028.

A light-emitting diode (LED) driver is a self-contained electrical device incorporated in an LED circuit to provide constant current or voltage. Its components generally include a resistor, electrolytic capacitor, bridge rectifier, Zener diode, and polarized capacitor. It is compact, lightweight, cost-effective, energy-efficient, and easy to install and requires low maintenance. As a result, it is widely used in residential and commercial buildings for lighting and decorative purposes. It is also utilized in cars, bikes, and various other automobiles as an indicator around the world.

LED Driver Market Trends:

The escalating demand for LED lighting solutions on account of a significant rise in power consumption, increasing global population, changing climatic conditions, and improving lifestyles of individuals represents one of the key factors impelling the market growth. In addition, inadequate power generation that has led to higher electricity prices is facilitating the adoption of energy-efficient LED lighting solutions worldwide. This, along with the rapid expansion of smart city projects and initiatives undertaken by government of numerous countries to encourage the use of energy-efficient technologies and ban inefficient lighting solutions, is contributing to the market growth. Apart from this, the growing emphasis on relacing conventional bulbs with LEDs in modern vehicles for high luminous efficiency and increasing safety is catalyzing the demand for LED drivers across the globe. This can also be attributed to boosting sales of passenger vehicles worldwide on account of rapid urbanization and improving urban road infrastructure. Furthermore, the rising number of outdoor events, coupled with the emergence of digital-out-of-home (DOOH) advertising, is augmenting the use of LED modular displays. This, in confluence with the growing awareness about the importance of energy conservation, is creating a positive influence on the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global LED driver market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, luminaire type, supply type and end user.

Breakup by Component:

• Driver IC
• Discrete Components
• Others
   

Breakup by Luminaire Type:

• Decorative Lamps
• Reflectors
• Type A Lamp
• T Lamp
• Integral LED Modules
• Others
   

Breakup by Supply Type:

• Constant Current
• Constant Voltage
   

Breakup by End User:

• Residential
• Commercial
• Industrial
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AC Electronics, ams AG, Hatch Lighting, Lutron Electronics Co. Inc., Macroblock Inc., Maxim Integrated Products Inc. (Analog Devices Inc.), Microchip Technology Inc., NXP Semiconductors N.V., Rohm Co. Ltd., Semiconductor Components Industries LLC, Signify N.V., SMART Global Holdings Inc. and Texas Instruments Incorporated.

Report Coverage: