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LED Driver Market Report and Forecast 2024-2032

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    Report

  • 229 Pages
  • December 2023
  • Region: Global
  • Expert Market Research
  • ID: 5921624
According to the report, the global LED driver market grew substantially in 2023. Aided by the burgeoning demand for energy-efficient lighting solutions, the market is projected to further grow at a CAGR of 20% between 2024 and 2032 reaching a value of approximate USD 92 billion by 2032.

An LED driver is a crucial component that ensures the optimal performance of LED lights. It provides a consistent power supply, regulates the current flowing through the LED during its operation, and offers a defence against voltage fluctuations. The intrinsic need for such a device arises because LEDs are inherently very sensitive to the changes in voltage or current.

The momentum behind the LED driver market growth is multifaceted. First and foremost, the global shift towards energy-efficient solutions in lighting has accelerated the demand for LED lights. As these lights inherently require drivers for optimal performance, the LED driver market has seen a parallel surge. Governments across the globe are promoting energy conservation measures, and phasing out incandescent bulbs is among the top agendas. This policy-driven approach provides a robust backdrop for the LED market and, consequently, the LED driver market.

Moreover, the technological advancements in smart lighting and connected infrastructure have given the LED driver market a fresh perspective. With smart homes and cities becoming more prevalent, the demand for sophisticated LED drivers capable of integrating with intelligent systems is on the rise. These drivers not only ensure the basic function of regulating the current but also come equipped with features that enable dimming, colour changing, and integration with sensors.

Further strengthening influencing the LED driver market outlook is the diversification of LED applications. Beyond basic lighting, LEDs are now integral to screens, automotive lighting, indicators, and many more applications. Each of these applications requires tailored drivers, thus broadening the scope and reach of the LED driver market.

The industrial and commercial sectors, too, contribute significantly to the growth. With industries focusing on reducing their carbon footprint and operational costs, there has been a significant shift to LED lighting in factories, warehouses, and offices. This transition demands high-performance LED drivers capable of handling the rigorous requirements of such environments.

In addition, the evolution of the automotive sector with an emphasis on energy-efficient and aesthetically pleasing lighting solutions has bolstered the LED driver market demand. Modern vehicles, be it electric or conventional, are increasingly incorporating LED lights, necessitating the use of advanced LED drivers that can meet the automotive standards.

Market Segmentation

The market can be divided based on driving methods, product, form, technology, component, end use, and region.

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

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global LED driver market. Some of the major players explored in the report are as follows:
  • 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

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global LED Driver Market Analysis
8.1 Key Industry Highlights
8.2 Global LED Driver Historical Market (2018-2023)
8.3 Global LED Driver Market Forecast (2024-2032)
8.4 Global LED Driver Market by Driving Methods
8.4.1 Constant Voltage
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Constant Current
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global LED Driver Market by Product
8.5.1 Lamp
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Luminaire
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global LED Driver Market by Form
8.6.1 Non-Dimmable
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Dimmable
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global LED Driver Market by Technology
8.7.1 Smart
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Conventional
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global LED Driver Market by Component
8.8.1 Driver ICS
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Discrete Components
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Others
8.9 Global LED Driver Market by End Use
8.9.1 Residential
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Commercial
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Industrial
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Others
8.10 Global LED Driver Market by Region
8.10.1 North America
8.10.1.1 Historical Trend (2018-2023)
8.10.1.2 Forecast Trend (2024-2032)
8.10.2 Europe
8.10.2.1 Historical Trend (2018-2023)
8.10.2.2 Forecast Trend (2024-2032)
8.10.3 Asia Pacific
8.10.3.1 Historical Trend (2018-2023)
8.10.3.2 Forecast Trend (2024-2032)
8.10.4 Latin America
8.10.4.1 Historical Trend (2018-2023)
8.10.4.2 Forecast Trend (2024-2032)
8.10.8 Middle East and Africa
8.10.8.1 Historical Trend (2018-2023)
8.10.8.2 Forecast Trend (2024-2032)
9 North America LED Driver Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe LED Driver Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific LED Driver Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America LED Driver Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa LED Driver Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Maxim Integrated Products, Inc. (NASDAQ: MXIM)
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 OSRAM GmbH (ETR: OSR)
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Venture Lighting Europe Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Texas Instruments Incorporated (NASDAQ: TXN)
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Macroblock, Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 General Electric Company (NYSE: GE)
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Koninklijke Philips N.V.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Signify N.V.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Cree LED (SMART Global Holdings, Inc.)
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Microchip Technology Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Seoul Semiconductor Co., Ltd.
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global LED Driver Market: Key Industry Highlights, 2018 and 2032
2. Global LED Driver Historical Market: Breakup by Driving Methods (USD Million), 2018-2023
3. Global LED Driver Market Forecast: Breakup by Driving Methods (USD Million), 2024-2032
4. Global LED Driver Historical Market: Breakup by Product (USD Million), 2018-2023
5. Global LED Driver Market Forecast: Breakup by Product (USD Million), 2024-2032
6. Global LED Driver Historical Market: Breakup by Form (USD Million), 2018-2023
7. Global LED Driver Market Forecast: Breakup by Form (USD Million), 2024-2032
8. Global LED Driver Historical Market: Breakup by Technology (USD Million), 2018-2023
9. Global LED Driver Market Forecast: Breakup by Technology (USD Million), 2024-2032
10. Global LED Driver Historical Market: Breakup by Component (USD Million), 2018-2023
11. Global LED Driver Market Forecast: Breakup by Component (USD Million), 2024-2032
12. Global LED Driver Historical Market: Breakup by End Use (USD Million), 2018-2023
13. Global LED Driver Market Forecast: Breakup by End Use (USD Million), 2024-2032
14. Global LED Driver Historical Market: Breakup by Region (USD Million), 2018-2023
15. Global LED Driver Market Forecast: Breakup by Region (USD Million), 2024-2032
16. North America LED Driver Historical Market: Breakup by Country (USD Million), 2018-2023
17. North America LED Driver Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Europe LED Driver Historical Market: Breakup by Country (USD Million), 2018-2023
19. Europe LED Driver Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Asia Pacific LED Driver Historical Market: Breakup by Country (USD Million), 2018-2023
21. Asia Pacific LED Driver Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Latin America LED Driver Historical Market: Breakup by Country (USD Million), 2018-2023
23. Latin America LED Driver Market Forecast: Breakup by Country (USD Million), 2024-2032
24. Middle East and Africa LED Driver Historical Market: Breakup by Country (USD Million), 2018-2023
25. Middle East and Africa LED Driver Market Forecast: Breakup by Country (USD Million), 2024-2032
26. Global LED Driver Market Structure

Companies Mentioned

  • 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.
  • General Electric Company (NYSE: GE)

Methodology

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