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Report Overview
The global LED driver market attained a value of nearly USD 9.02 billion in 2023. The market is further expected to grow at a CAGR of 16.8% during the forecast period of 2024-2032 to reach a value of USD 36.49 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
| 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% |
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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.
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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.
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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:
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| Breakup by Driving Methods |
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| Breakup by Product |
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| Breakup by Form |
|
| Breakup by Technology |
|
| Breakup by Component |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| 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.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 36.49 billion by 2032.
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