Global LED Driver
Market Report
2024
The global LED Driver Market size is USD 54.2 billion in 2024. The LED Driver Market will show the strongest growth with a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031. This growth can be attributed to increasing urbanization and smart city projects.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global LED Driver Market size is USD 54.2 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global LED Driver Market Sales Revenue 2020 | $ 7622.1 Billion |
Global LED Driver Market Sales Revenue 2024 | $ 54.2 Billion |
Global LED Driver Market Sales Revenue 2030 | $ 64882.1 Billion |
Global LED Driver Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.3% |
Market Split by Component |
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Market Split by Luminaire Type |
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Market Split by Supply Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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LED Driver Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
LED drivers are electrical devices that control the forward voltage (VF) of LEDs to prevent harm to devices. LED drivers also contribute to meeting the increased energy requirements. Applications for LED drivers include backlighting, vehicle lighting, and general illumination. The market is growing as a result of the rising demand for LED lights across a range of applications, including horticulture, outdoor industrial, and automotive lighting. Globally, several countries have launched smart city initiatives. In such initiatives, sustainable lighting is a crucial component. These countries are seeing a rise in the need for smart lighting systems based on IoT. This is expected to drive the market growth. Furthermore, there is a rising focus on creating LED drivers by market players that are more compatible with newly developed lighting technologies, which is creating a dynamic and creative environment in the LED driver market.
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In April 2023, ACE LED launched the Mini-Rail Constant Power Linear Emergency LED Driver. At 0.83" high and 1" broad, it is the smallest LED driver in the industry. The Mini-Rail features an isolated relay driver, a highly efficient LiFePO4 battery, and an extensive output voltage range. It provides innovative alternatives for various types of lighting uses and can run continuously for more than ninety minutes in an emergency. (Source:https://www.ledsmagazine.com/directory/drivers-control/drivers-power-supplies/press-release/14293239/ace-leds-introducing-the-smallest-linear-emergency-led-driver-on-the-market-ace-leds-mini-railtm)
Top Companies Market Share in LED Driver Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for a major market share. North America has seen significant growth due to the growing awareness of the advantages of energy-efficient lighting, decreasing costs of LED products, increasing adoption of LED solutions in various applications, and government policies for the use of energy-efficient lighting. One major driver propelling regional market expansion is the increasing use of smart lighting solutions that provide energy efficiency and better lighting performance in commercial applications.
Asia-Pacific stands out as the fastest-growing region in the LED Driver Market. The region's growing use of LED lighting in the commercial, industrial, and residential sectors has been a major factor in the market's expansion. In addition to growing awareness regarding the advantages of LED light, government programs promoting sustainability and energy efficiency have increased demand for LED drivers in the region. The market's expansion has also been boosted by countries including China, India, and Japan's faster infrastructure development and urbanization.
The current report Scope analyzes LED Driver Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global LED Driver Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing LED Driver Industry growth. LED Driver market has been segmented with the help of its Component, Luminaire Type Supply Type, and others. LED Driver market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to cognitive market research, driver IC is the dominant category. LEDs are required to be driven with a constant current to maintain its brightness and longevity. Independent of changes in input voltage or temperature, driver ICs provide accurate current regulation, guaranteeing that LEDs receive a steady and correct current. Furthermore, driver ICs frequently provide dimming and control features that let users modify the brightness or color temperature of LED lighting systems. These advantages related to driver IC are expected to fuel the segment's growth in the coming years.
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of LED Driver from 2019 to 2031. This will also help to analyze the demand for LED Driver across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Luminaire Type of LED Driver are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Senior Research Analyst at Cognitive Market Research
ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global LED Driver Market is witnessing significant growth in the near future.
In 2023, the Driver IC segment accounted for noticeable share of global LED Driver Market and is projected to experience significant growth in the near future.
The Decorative Lamps segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies ACE LEDS , Cree LED and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Component | Driver IC, Discrete Component, Others |
Luminaire Type | Decorative Lamps, Reflectors, Type A Lamp, Others |
Supply Type | Constant Current, Constant Voltage |
Application | Consumer Electronics, Lighting, Automotive, Outdoor Displays |
List of Competitors | ACE LEDS, Microchip Technology Inc., Cree LED, HLI SOLUTIONS, INC., Signify Holding, SAMSUNG, Lutron Electronics Co., Inc., Macroblock, Inc., Analog Devices, Inc., NXP Semiconductors, Semiconductor Components Industries, LLC, AMS-OSRAM AG, ROHM CO., LTD., STMicroelectronics, Texas Instruments, Eaglerise Electric & Electronic (China) Co., Ltd. |
This chapter will help you gain GLOBAL Market Analysis of LED Driver. Further deep in this chapter, you will be able to review Global LED Driver Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Component Analysis 2019 -2031, will provide market size split by Component. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Component Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Luminaire Type Analysis 2019 -2031
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Chapter 12 Market Split by Supply Type Analysis 2019 -2031
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Chapter 13 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global LED Driver market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Driver IC have a significant impact on LED Driver market? |
What are the key factors affecting the Driver IC and Discrete Component of LED Driver Market? |
What is the CAGR/Growth Rate of Decorative Lamps during the forecast period? |
By type, which segment accounted for largest share of the global LED Driver Market? |
Which region is expected to dominate the global LED Driver Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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