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Report Overview

The global LED driver market attained a value of nearly USD 10.54 Billion in 2024. The market is further expected to grow at a CAGR of 16.80% during the forecast period of 2025-2034 to reach a value of USD 49.80 Billion by 2034.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Compound Annual Growth Rate

Value in USD Billion

16.8%

2025-2034


LED Driver Market Outlook

*this image is indicative*

Global LED Driver Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2024
Forecast Period USD Billion 2025-2034
Market Size 2024 USD Billion 9.02
Market Size 2034 USD Billion 36.49
CAGR 2018-2024 Percentage XX%
CAGR 2025-2034 Percentage 16.8%
CAGR 2025-2034 - Market by Region Asia Pacific 19.4%
CAGR 2025-2034 - Market by Country India 22.2%
CAGR 2025-2034 - Market by Country China 18.5%
CAGR 2025-2034 - Market by Driving Methods Constant Current 18.8%
CAGR 2025-2034 - Market by End Use Commercial 19.2%
Market Share by Country 2023 India 3.8%

LED Driver Market Report

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Market Segmentation

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

Market Breakup by Driving Methods

  • Constant Voltage
  • Constant Current

Market Breakup by Product

  • Lamp
  • Luminaire

Market Breakup by Form

  • Non-dimmable
  • Dimmable

Market Breakup by Technology

  • Smart
  • Conventional

Market Breakup by Component

  • Driver ICS
  • Discrete Components
  • Others

Market Breakup by 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.

LED Driver Market By Segments

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CAGR 2025-2034 - 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.

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.

*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 10.54 Billion in 2024.

The industry is likely to grow at a CAGR of 16.80% in the forecast period of 2025 and 2034.

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 2025-2034 to reach USD 49.80 Billion by 2034.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
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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