Product Code: GVR-1-68038-793-3
LED Driver Market Growth & Trends:
The global LED driver market size is estimated to reach USD 30.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 23.5% from 2022 to 2030. LEDs have evolved as an energy-efficient alternative for conventional light sources during the last decade, and their use in lighting and display segments across industries is increasing.
LED lighting equipment is increasingly replacing traditional lighting products due to a variety of advantages, including longer life, higher energy efficiency, better environmental friendliness, miniaturization, reduced heat output, and directionality. Furthermore, the increasing number of smart buildings and homes in developed countries is driving up demand for IoT-based linked lighting systems. Several governments have initiated Smart City efforts to increase the energy savings of inhabited cities, which is expected to further boost the market.
From 2017 to 2021, the demand for constant current LED drivers grew at an exponential rate; these drivers are frequently employed in high-brightness and exterior lighting applications. The LED driver's major application segment is consumer electronics; demand for LEDs has surged in the television and display panel segments. Leading manufacturers are cooperating with other companies to supply public lighting systems that are connected to remote management for energy savings and efficient maintenance in towns all over the world.
For instance, in November 2021, Lutron Electronics Co., Inc. announced the launch of RadioRA 3. It is a lighting control system that connects a wide variety of connected domestic products-keypads, switches, and capacitive touch dimmers to a contemporary light bar design. RadioRA 3 revolutionized how installers and consumers experience home lighting systems with the line of wall controls, including IoT (Internet of Things) connectivity and light bar design.
For applications in the low- to mid-power range, there is a growing demand for a driver with reduced power loss, a smaller system package, and lower cost while yet delivering good dependability. LED Driver manufacturers have been implementing Primary-Side Regulation (PSR) to reduce costs by removing secondary response circuitry, as well as Power-Factor Correction associated electronics, for greater power quality, to meet the criteria of cost reduction.
LED Driver Market Report Highlights:
- The constant current segment is anticipated to witness a CAGR of over 23.9% from 2022 to 2030. For general lighting applications, the constant current driver is more reliable than a constant voltage driver
- The lighting segment is anticipated to witness a CAGR of nearly 26.0% over the forecast period, owing to the increased investments in Europe and the Asia Pacific
- Asia Pacific dominated the industry contributing to over 44.0% of the global revenue in 2021. Government regulations in the Asia Pacific are likely to increase the demand for energy-efficient lighting
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation
- 1.2. Research Scope & Assumption
- 1.3. Research Methodology
- 1.3.1. Bottom-up Approach
- 1.3.2. Top-Down Approach
- 1.4. List of Data Sources
- 1.5. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Summary
- 2.2. Industry Snapshot and Key Buying Criteria, 2017 - 2030
- 2.3. Market Outlook
- 2.4. Segmental Outlook
Chapter 3. LED Driver Industry Outlook
- 3.1. Market Lineage Outlook
- 3.2. LED Driver penetration & growth prospects mapping
- 3.3. LED Drivers Market Trends
- 3.4. LED Driver Market - Value Chain Analysis
- 3.5. LED Driver Market Dynamics
- 3.5.1. Market driver analysis
- 3.5.1.1. Growing demand for efficient lighting technology
- 3.5.1.2. Rising demand for LED drivers across general lighting applications
- 3.5.1.3. The growing convergence of LED lighting and the Internet of Things (IoT)
- 3.5.2. Market restraint analysis
- 3.5.2.1. Lack of common standards among various manufacturers
- 3.5.2.2. Macroeconomic shocks such as component shortages, tariffs, and the COVID-19 pandemic affected the pricing of LED Drivers
- 3.5.3. Market opportunity analysis
- 3.5.3.1. The growing number of Smart Buildings and working spaces
- 3.5.3.2. Increasing use of LED Drivers in Display panels devices
- 3.5.3.3. The growing use of LED Drivers in Autonomous vehicles
- 3.6. LED Drivers Market - Porter's Five Forces Analysis
- 3.7. LED Drivers Market - PEST analysis
- 3.8. Average Pricing Analysis of LED Drivers
- 3.9. Technology Trends in LED Industry
- 3.9.1. Advancements of LED in Automotive Applications
- 3.9.2. Upgrades in the manufacturing of LED components
- 3.9.3. Use Cases on LED Drivers
- 3.10. Impact of COVID-19 on LED Drivers Market
- 3.11. Major deals and Strategic Alliances Analysis
- 3.11.1. Joint Ventures and Partnerships
- 3.11.2. Mergers and Acquisitions
- 3.11.3. New Product Developments
- 3.11.4. Expansion
Chapter 4. LED Driver Market: Supply Type Estimates & Trend Analysis
- 4.1. Constant voltage LED driver market, 2017 - 2030 (USD million)
- 4.2. Constant current LED driver market, 2017 - 2030 (USD million)
Chapter 5. LED Driver Market: Application Type Estimates & Trend Analysis
- 5.1. Automotive LED driver market, 2017 - 2030 (USD million)
- 5.2. Consumer electronics LED driver market, 2017 - 2030 (USD million)
- 5.3. Lighting LED driver market, 2017 - 2030 (USD million)
- 5.4. Outdoor display LED driver market, 2017 - 2030 (USD million)
Chapter 6. LED Driver Market: Regional Outlook
- 6.1. North America
- 6.1.1. North America LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.1.2. North America LED driver market, by application type, 2017 - 2030 (USD million)
- 6.1.3. U.S.
- 6.1.3.1. U.S. LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.1.3.2. U.S. LED driver market, by application type, 2017 - 2030 (USD million)
- 6.1.4. Canada
- 6.1.4.1. Canada LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.1.4.2. Canada LED driver market, by application type, 2017 - 2030 (USD million)
- 6.2. Europe
- 6.2.1. Europe LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.2.2. Europe LED driver market, by application type, 2017 - 2030 (USD million)
- 6.2.3. U.K.
- 6.2.3.1. U.K. LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.2.3.2. U.K. LED driver market, by application type, 2017 - 2030 (USD million)
- 6.2.4. Germany
- 6.2.4.1. Germany LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.2.4.2. Germany LED driver market, by application type, 2017 - 2030 (USD million)
- 6.2.5. France
- 6.2.5.1. France LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.2.5.2. France LED driver market, by application type, 2017 - 2030 (USD million)
- 6.3. Asia Pacific
- 6.3.1. Asia Pacific LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.3.2. Asia Pacific LED driver market, by application type, 2017 - 2030 (USD million)
- 6.3.3. China
- 6.3.3.1. China LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.3.3.2. China LED driver market, by application type, 2017 - 2030 (USD million)
- 6.3.4. India
- 6.3.4.1. India LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.3.4.2. India LED driver market, by application type, 2017 - 2030 (USD million)
- 6.3.5. Japan
- 6.3.5.1. Japan LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.3.5.2. Japan LED driver market, by application type, 2017 - 2030 (USD million)
- 6.3.6. South Korea
- 6.3.6.1. South Korea LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.3.6.2. South Korea LED driver market, by application type, 2017 - 2030 (USD million)
- 6.4. Latin America
- 6.4.1. Latin America LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.4.2. Latin America LED driver market, by application type, 2017 - 2030 (USD million)
- 6.4.3. Brazil
- 6.4.3.1. Brazil LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.4.3.2. Brazil LED driver market, by application type, 2017 - 2030 (USD million)
- 6.4.4. Mexico
- 6.4.4.1. Mexico LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.4.4.2. Mexico LED driver market, by application type, 2017 - 2030 (USD million)
- 6.5. Middle East & Africa
- 6.5.1. MEA LED driver market, by supply type, 2017 - 2030 (USD million)
- 6.5.2. MEA LED driver market, by application type, 2017 - 2030 (USD million)
Chapter 7. Competitive Landscape
- 7.1. ACE LEDS
- 7.1.1. Company Overview
- 7.1.2. Financial Performance
- 7.1.3. Product Benchmarking
- 7.1.4. Strategic Initiatives
- 7.2. Microchip Technology, Inc
- 7.2.1. Company Overview
- 7.2.2. Financial Performance
- 7.2.3. Product Benchmarking
- 7.2.4. Strategic Initiatives
- 7.3. Cree LED
- 7.3.1. Company Overview
- 7.3.2. Financial Performance
- 7.3.3. Product Benchmarking
- 7.3.4. Strategic Initiatives
- 7.4. GE Current, a Daintree Company
- 7.4.1. Company Overview
- 7.4.2. Financial Performance
- 7.4.3. Product Benchmarking
- 7.4.4. Strategic Initiatives
- 7.5. Signify Holdings
- 7.5.1. Company Overview
- 7.5.2. Financial Performance
- 7.5.3. Product Benchmarking
- 7.5.4. Strategic Initiatives
- 7.6. SAMSUNG
- 7.6.1. Company Overview
- 7.6.2. Financial Performance
- 7.6.3. Product Benchmarking
- 7.6.4. Strategic Initiatives
- 7.7. Lutron Electronics Co., Inc.
- 7.7.1. Company Overview
- 7.7.2. Financial Performance
- 7.7.3. Product Benchmarking
- 7.7.4. Strategic Initiatives
- 7.8. Macroblock, Inc
- 7.8.1. Company Overview
- 7.8.2. Financial Performance
- 7.8.3. Product Benchmarking
- 7.8.4. Strategic Initiatives
- 7.9. Maxim Integrated
- 7.9.1. Company Overview
- 7.9.2. Financial Performance
- 7.9.3. Product Benchmarking
- 7.9.4. Strategic Initiatives
- 7.10. NXP Semiconductors
- 7.10.1. Company Overview
- 7.10.2. Financial Performance
- 7.10.3. Product Benchmarking
- 7.10.4. Strategic Initiatives
- 7.11. Semiconductors Components Industries, LLC
- 7.11.1. Company Overview
- 7.11.2. Financial Performance
- 7.11.3. Product Benchmarking
- 7.11.4. Strategic Initiatives
- 7.12. ams OSRAM
- 7.12.1. Company Overview
- 7.12.2. Financial Performance
- 7.12.3. Product Benchmarking
- 7.12.4. Strategic Initiatives
- 7.13. ROHM Co., Ltd.
- 7.13.1. Company Overview
- 7.13.2. Financial Performance
- 7.13.3. Product Benchmarking
- 7.13.4. Strategic Initiatives
- 7.14. STMicroelectronics N.V.
- 7.14.1. Company Overview
- 7.14.2. Financial Performance
- 7.14.3. Product Benchmarking
- 7.14.4. Strategic Initiatives
- 7.15. Texas Instruments Incorporated
- 7.15.1. Company Overview
- 7.15.2. Financial Performance
- 7.15.3. Product Benchmarking
- 7.15.4. Strategic Initiatives
- 7.16. Eaglerise Electric & Electronic (China) Co., Ltd.
- 7.16.1. Company Overview
- 7.16.2. Financial Performance
- 7.16.3. Product Benchmarking
- 7.16.4. Strategic Initiatives
- 7.17. Lifud technology Co., Ltd
- 7.17.1. Company Overview
- 7.17.2. Financial Performance
- 7.17.3. Product Benchmarking
- 7.17.4. Strategic Initiatives
- 7.18. BOKE Drivers Co., Ltd
- 7.18.1. Company Overview
- 7.18.2. Financial Performance
- 7.18.3. Product Benchmarking
- 7.18.4. Strategic Initiatives
- 7.19. Shenzhen Xiezhen Electronics Co., Ltd
- 7.19.1. Company Overview
- 7.19.2. Financial Performance
- 7.19.3. Product Benchmarking
- 7.19.4. Strategic Initiatives
- 7.20. MEAN WELL Enterprises Co., Ltd.
- 7.20.1. Company Overview
- 7.20.2. Financial Performance
- 7.20.3. Product Benchmarking
- 7.20.4. Strategic Initiatives
- 7.21. Inventronics, Inc.
- 7.21.1. Company Overview
- 7.21.2. Financial Performance
- 7.21.3. Product Benchmarking
- 7.21.4. Strategic Initiatives
- 7.22. Tridonic
- 7.22.1. Company Overview
- 7.22.2. Financial Performance
- 7.22.3. Product Benchmarking
- 7.22.4. Strategic Initiatives
- 7.23. TCI Telecomunicazioni Italia Srl
- 7.23.1. Company Overview
- 7.23.2. Financial Performance
- 7.23.3. Product Benchmarking
- 7.23.4. Strategic Initiatives