Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global LED Driver Market Outlook

The global LED driver market size stood at a value of around USD 9.02 billion in 2023. The global LED driver market is forecast to grow at a CAGR of 16.8% between 2024 and 2032.

Global LED Driver Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 9.02
Market Size 2032 USD Billion 36.49
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 16.8%
CAGR 2024-2032 - Market by Region Asia Pacific 19.4%
CAGR 2024-2032 - Market by Country India 22.2%
CAGR 2024-2032 - Market by Country China 18.5%
CAGR 2024-2032 - Market by Driving Methods Constant Current 18.8%
CAGR 2024-2032 - Market by End Use Commercial 19.2%
Market Share by Country 2023 India 3.8%

LED Driver Market Report

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Properties and Applications

An LED driver is a chip or circuit board that regulates the power supply and ensures a constant supply of current to an LED light, which has specialised energy requirements.

LED Driver Market By Segments

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The LED driver industry can be divided based on segments like driving method, product, form, technology, component, and end-use:

  • Driving Methods
    • Constant Voltage
    • Constant Current
  • Product
    • Lamp 
    • Luminaire
  • Form
    • Non-dimmable
    • Dimmable
  • Technology
    • Smart
    • Conventional
  • Component
    • Driver ICS 
    • Discrete Components 
    • Others
  • End-Use
    • Residential
    • Commercial
    • Industrial
    • Others

The EMR report looks into the regional LED driver markets like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

CAGR 2024-2032 - Market by Country
India 22.2%
China 18.5%
UK 15.4%
USA 15.0%
Germany 13.8%
Canada XX%
France XX%
Italy XX%
Japan 11.6%
Australia XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%

Market Analysis

The rapid technological advancements in lighting parts or components have allowed energy efficiency and improved effectiveness, thus reinforcing the demand for the product, and aiding the global LED driver industry. The increasing penetration of LED lighting in various applications, such as indoor, automotive, industrial, and horticultural industries, has also led to enhanced LED driver industry growth due to improving current lighting solutions’ requirements. The increasing adoption of LED drivers in machines like a calculator is expected to drive the LED driver industry growth further. Further, to develop technologically advanced and sustainable living spaces, the governments of various countries have launched smart city initiatives, which is further expected to aid the growth of the industry as sustainable lighting, such as LED, is an important component of these initiatives.

LED Driver Market By Region

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Competitive Landscape

The report presents a detailed analysis of the following key players in the global LED driver market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Maxim Integrated Products, Inc. (NASDAQ: MXIM) 
  • Osram Gmbh 
  • Venture Lighting Europe Ltd.
  • Texas Instruments Incorporated
  • Macroblock, Inc.
  • Koninklijke Philips N.V.  
  • Cree LED (SMART Global Holdings, Inc.)
  • Signify N.V.
  • Microchip Technology Inc.
  • Seoul Semiconductor Co., Ltd.
  • General Electric Company 
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Driving Methods
  • Product
  • Form
  • Technology
  • Component
  • End Use
  • Region
Breakup by Driving Methods
  • Constant Voltage
  • Constant Current
Breakup by Product
  • Lamp
  • Luminaire
Breakup by Form
  • Non-dimmable
  • Dimmable
Breakup by Technology
  • Smart
  • Conventional
Breakup by Component
  • Driver ICS
  • Discrete Components
  • Others
Breakup by End Use
  • Residential
  • Commercial
  • Industrial
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Maxim Integrated Products, Inc. (NASDAQ: MXIM)
  • OSRAM GmbH (ETR: OSR)
  • Venture Lighting Europe Ltd.
  • Texas Instruments Incorporated (NASDAQ: TXN)
  • Macroblock, Inc.
  • General Electric Company (NYSE: GE)
  • Koninklijke Philips N.V.
  • Signify N.V.
  • Cree LED (SMART Global Holdings, Inc.)
  • Microchip Technology Inc.
  • Seoul Semiconductor Co., Ltd.
  • Others
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Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The global LED driver market reached a value of USD 9.02 billion in 2023.

The industry is likely to grow at a CAGR of 16.8% in the forecast period of 2024 and 2032.

The major market  drivers include the growing spending by major players in the research and development field to boost the performance of current lighting solutions, increasing adoption of LED drivers in machines, and smart city initiatives by governments.

The key market trends include rapid technological advancements in lighting parts or components and increasing penetration of LED lighting in various applications, such as indoor, automotive, and industrial.

The major regions of the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The major driving methods in the market are constant voltage and constant current.

The various products in the market are lamp and luminaire.

The different forms include are non-dimmable and dimmable.

The significant technologies include smart and conventional.

The major components in the market are driver ICS and discrete components, among others.

The major end uses considered in the report are residential, commercial, and industrial, among others.

The key players in the global LED driver market are Maxim Integrated Products, Inc. (NASDAQ: MXIM), Osram Gmbh (ETR: OSR), Venture Lighting Europe Ltd., Texas Instruments Incorporated (NASDAQ: TXN), Macroblock, Inc, Koninklijke Philips N.V., Signify N.V., Cree LED (SMART Global Holdings, Inc.), Microchip Technology Inc., Seoul Semiconductor Co., Ltd., and General Electric Company (NYSE: GE), among others.

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