LED Driver for Lighting Global Market Report 2024

The LED driver for lighting market size has grown exponentially in recent years. It will grow from $21.2 billion in 2023 to $25.51 billion in 2024 at a compound annual growth rate (CAGR) of 23.5%. The growth in the historic period can be attributed to energy efficiency regulations, government initiatives and subsidies, growing awareness of environmental issues, and urbanization and infrastructure development.

The LED driver for lighting market size is expected to see exponential growth in the next few years. It will grow to $54.05 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to the rising proliferation of electronic devices, increasing demand for energy-efficient lighting, rising adoption of smart systems, and growing use in automotive lighting. Major trends in this period include advancements in LED technology, smart lighting and IoT integration, adoption of wireless technologies, miniaturization and advanced designs, and increased customization and versatility.

The increasing number of vehicles is anticipated to drive the growth of the LED driver for lighting market. This rise in vehicle numbers is attributed to population growth, urbanization, increased economic activity, and better accessibility to vehicles through affordability and financing options. LED drivers are essential for vehicles as they regulate power to LED lights, ensuring consistent operation, protection against voltage fluctuations, extended lifespan, and features such as dimming or brightness control. For example, in April 2024, the Society of Motor Manufacturers and Traders Ltd. (SMMT), a UK-based trade association, reported that the number of vehicles on UK roadways reached a record high of 41.44 million in 2023, a 1.7% increase from the previous year. Therefore, the growing number of vehicles is driving the expansion of the LED driver for lighting market.

Leading companies in the LED driver for lighting market are focusing on developing advanced technologies, such as IoT-integrated LED lighting systems, to enhance energy efficiency, control, and connectivity in lighting systems. IoT-integrated LED lighting systems combine energy-efficient LED technology with Internet of Things (IoT) connectivity. For instance, in August 2023, Delta Electronics, a Taiwan-based industrial power system supplier, launched the EUCO-2.1kW LED drivers for high-powered applications such as sports stadiums. These drivers feature the D4i protocol for IoT integration and have a solid heat sink design with a wide operating temperature range of -40°C to +50°C, supporting three independent output channels up to 1500W each. This offers flexibility and efficiency in stadium lighting management.

In April 2023, Inventronics USA, a US-based manufacturer of LED drivers, acquired OSRAM Digital Systems for an undisclosed amount. This strategic acquisition is expected to enhance Inventronics' market presence, expand its customer base, and accelerate the development of smart lighting systems that incorporate IoT connectivity, energy efficiency, and advanced control features. OSRAM Digital Systems is a Germany-based photonics company specializing in LED drivers and electric lights.

Major companies operating in the LED driver for lighting market are Panasonic Corporation, Toshiba Electronic Devices & Storage Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Infineon Technologies AG, Delta Electronics Inc., Analog Devices Inc., ON Semiconductor Corporation, ams AG, Hubbell Inc., ROHM Co. Ltd., Maxim Integrated Products Inc., Diodes Inc., Mean Well Enterprises Co. Ltd., Allegro MicroSystems Inc., Power Integrations Inc., Cree Inc., Elmos Semiconductor SE, Lutron Electronics Co. Inc., Fulham Co. Inc., Helvar Oy AB, Cypress Semiconductor Corporation.

Asia-Pacific was the largest region in the LED driver for lighting market in 2023. The regions covered in the LED driver for lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the LED driver for lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An LED (light-emitting diode) driver for lighting is a device that regulates power to an LED or a string of LEDs. It converts higher voltage alternating current into low voltage direct current to power the LEDs. LED drivers are crucial for the proper operation and longevity of LEDs, ensuring they receive the correct voltage and current. These drivers provide efficient and stable power to LEDs, enabling them to produce light effectively and consistently.

The main luminaire types in the LED driver for lighting market include type A-lamps, T-lamps, integral LED modules, and other luminaire types. Type A-lamps refer to a specific category of light bulbs commonly used in residential and commercial lighting fixtures. The various driving methods are constant current LED drivers and constant voltage LED drivers, utilized in various end uses such as commercial lighting, industrial lighting, residential lighting, outdoor and traffic lighting, and other applications.

The led driver for lighting market research report is one of a series of new reports that provides led driver for lighting market statistics, including led driver for lighting industry global market size, regional shares, competitors with a led driver for lighting market share, detailed led driver for lighting market segments, market trends, and opportunities, and any further data you may need to thrive in the led driver for lighting industry. This led driver for lighting research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The LED driver for the lighting market includes revenues earned by entities by providing services such as efficiency optimization, remote control and monitoring, compliance and certification, customization options, and current control. The market value includes the value of related goods sold by the service provider or included within the service offering. The LED driver for lighting market also includes sales of constant current LED drivers, dimmable LED drivers, triac dimmable LED drivers, DALI dimmable LED drivers, and emergency LED drivers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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