IMARC Group, a leading market research company, has recently releases report titled “LED Driver Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global LED driver market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the LED driver market?

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.

What is an LED driver?

A light-emitting diode (LED) driver refers to an electrical circuit that is utilized for regulating the voltage of a string of LEDs or an LED. It is a specialized power supply system that aids in controlling the power level required by LEDs. It is generally classified into internal and external LED drivers, wherein internal drivers are usually inbuilt in domestic bulbs and external drivers are equipped with roadways and commercial lighting systems. It is easy to use, reliable and offers an excellent electromagnetic compatibility (EMC) performance in a cost-efficient manner.

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What are the growth prospects and trends in the LED driver industry?

The global market is primarily driven by the escalating demand for LED lighting solutions. This is supported by the rising awareness regarding sustainable development among the masses and the growing preference for energy-efficient lighting solutions. Along with this, increasing investments by private and public agencies in the development of smart city projects are also providing an impetus to the market growth. Moreover, numerous leading players are heavily investing in the replacement of conventional bulbs with LEDs in vehicles to offer excellent luminous efficiency for improving road safety. The market is further driven by the rising infrastructural development projects across the globe. Other factors, including continual product innovations, extensive research and development (R&D) activities conducted by key players and the emergence of digital-out-of-home (DOOH) advertising solutions, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 19.31% during 2023-2028.

What is included in market segmentation?

The report has segmented the market into the following categories:

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

Who are the key players operating in the industry?

The report covers the major market players including:

  • 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.

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