The global LED driver market size reached US$ 12.0 Billion in 2023. Looking forward, the market is projected to reach US$ 50.9 Billion by 2032, exhibiting a growth rate (CAGR) of 17.42% during 2023-2032.
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.
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.
2. What is the expected growth rate of the global LED driver market during 2024-2032?
3. What are the key factors driving the global LED driver market?
4. What has been the impact of COVID-19 on the global LED driver market?
5. What is the breakup of the global LED driver market based on the component?
6. What is the breakup of the global LED driver market based on the luminaire type?
7. What is the breakup of the global LED driver market based on the supply type?
8. What is the breakup of the global LED driver market based on the end user?
9. What are the key regions in the global LED driver market?
10. Who are the key players/companies in the global LED driver market?
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
This report 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 2024-2032. The 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.Key Questions Answered in This Report
1. What was the size of the global LED driver market in 2023?2. What is the expected growth rate of the global LED driver market during 2024-2032?
3. What are the key factors driving the global LED driver market?
4. What has been the impact of COVID-19 on the global LED driver market?
5. What is the breakup of the global LED driver market based on the component?
6. What is the breakup of the global LED driver market based on the luminaire type?
7. What is the breakup of the global LED driver market based on the supply type?
8. What is the breakup of the global LED driver market based on the end user?
9. What are the key regions in the global LED driver market?
10. Who are the key players/companies in the global LED driver market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global LED Driver Market
6 Market Breakup by Component
7 Market Breakup by Luminaire Type
8 Market Breakup by Supply Type
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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.
- Texas Instruments Incorporated.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 12 Billion |
| Forecasted Market Value ( USD | $ 50.9 Billion |
| Compound Annual Growth Rate | 17.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
