LED Driver Market Is Set for a Rapid Growth and is Expected to Reach USD around 19.03 Billion by 2028

The adoption of LED lighting in general lighting applications, rising need for energy-efficient lighting systems, IoT and lighting integration, and acceptance of standard protocols for lighting control are all propelling this market’s growth. The base year for this report is 2015, and the forecast period for the LED driver market is from 2016 to 2022.

The global LED driver market for lighting is predicted to grow at a CAGR of 26.3 percent, reaching USD 24.98 billion.

The driving method (constant current LED driver and constant voltage LED driver), luminaire type (A-type, T-lamps, reflectors, decorative lamps, integral LED modules), end-user application (commercial lighting, industrial lighting, residential lighting, outdoor & traffic lighting, and others), and geography are all covered in this report. This study includes market size estimates for various segments, as well as significant trends and market dynamics connected to these areas.

This research project will rely heavily on secondary sources, directories, and databases (such as Hoovers, Bloomberg Business, Factiva, and OneSource) to find and collect relevant data. Below is a description of the research methodology used in this paper.

LED Driver Market
LED Driver Market

An examination of all end-user applications in which LED lighting drivers are employed around the world.

An examination of the many LED drivers available to these businesses

An examination of the use of LED drivers in certain industries

Estimating the size of the market in terms of volume

Estimation of LED driver market size in end-user applications based on driving technique

Data triangulation with supply-side data, including product innovations, supply chain, and expected sales of LED driver modules, was used to determine the overall market size.

Following the determination of the overall market size, the complete market was divided into many segments and sub-segments, which were then confirmed with key industry experts. The chart below depicts the distribution of primaries by firm type, designation, and area.
LED driver module vendors such as Osram GmbH (Germany) and Harvard Engineering (UK); LED driver IC providers such as Texas Instruments (US), Maxim Integrated (US), and Macroblock, Inc. (Taiwan), among others, make up the LED driver ecosystem.

The target audience is as follows:

Manufacturers of LED modules

producers of LED integrated circuits

Integrators of lighting

Institutions of government

The study examines prominent players’ competitive landscapes, as well as their growth strategies, in order to help them improve their position in the LED driver market for lighting. Osram GmbH (Germany), Harvard Engineering (UK), Texas Instruments (US), Maxim Integrated (US), Macroblock Inc. (Taiwan), Atmel Corporation (US), General Electric (US), Cree, Inc. (US), ROHM Semiconductors (Japan), ON Semiconductor (US), and AC Electronics are among the key companies profiled in the LED driver market for lighting (U.S.).

The market has been segmented as follows in this report:

Market for LED Drivers by Driving Method:

LED Driver with Constant Current

LED Driver with Constant Voltage

Market by Type of Luminaire:

Lamps of Type A

T-Lamps

Reflectors

Lamps for decoration

LED Modules That Are Built-In

End-User Application Market:

Lighting for Commercial Use

Lighting for the Industrial Sector

Lighting for the Home

Lighting for the outdoors and for traffic

Others

Geographical Markets:

North America is located in North America.

Europe

APAC

RoW

Customizations that are available:

provides adaptations based on the provided market data to meet the company’s particular needs. For the report, the following customization options are available.

Analyses by Location

Each region has a comprehensive set of requirements to follow (North America, APAC, Europe, RoW)

Information about the company

Additional market players will be profiled and analysed in detail (up to five)

Until 2022, the worldwide LED driver market for lighting is predicted to increase at a rapid pace. Between 2016 and 2022, the entire market is predicted to grow at a CAGR of 26.3 percent, reaching USD 24.98 billion. The market for LED drivers is being driven by the growing adoption of LED lighting in general lighting applications, rising demand for energy-efficient lighting systems, integration of IoT and lighting, and acceptance of standard protocols for lighting control.

During the anticipated period, constant current LED drivers are expected to be the most popular LED driver by driving method. Constant current LED drivers are preferred over constant voltage LED drivers because they do not exceed the maximum current specified for the LEDs, preventing burnout and thermal runaway.

Type-A lamps are predicted to dominate the market for LED drivers that are split by luminaire type. Lamps with integrated modules are predicted to increase at the quickest rate, since end customers prefer completely integrated modules inside an LED system over conventionally manufactured LED systems because it saves money.

The LED driver market is predicted to be led by the end-user application of outdoor and traffic lights. Every street lighting control installation necessitates unique solutions tailored to the road. Many projects require numerous solutions to take full advantage of energy savings because different types of roadways, such as streets, main roads, and highways, require different control systems.

In 2015, Europe had the second-biggest share of the LED driver market for lighting, while APAC is predicted to have the largest market and grow at the fastest CAGR over the forecast period. The increased demand for energy-saving lighting solutions, as well as a growing population, are driving the LED driver market in APAC. The LED driver market for lighting in APAC is still in its early stages, but the region’s rapid growth makes it a lucrative and high-potential industry.

The lack of understanding regarding the installation of LED drivers for lighting, as well as a lack of uniform standards among manufacturers, are the key limitations to the market’s growth. Osram GmbH (Germany), Harvard Engineering (UK), Texas Instruments (US), Maxim Integrated (US), Macroblock, Inc. (Taiwan), and others are among the market’s key players. To increase their income in the LED driver market for lighting, these companies used various methods such as new product development, mergers, partnerships, collaborations, and business expansions.

Sagar is a Digital Marketing Associate in a Leading Market Research Company. He has a very deep interest in all technology topics whatsoever. His passion, dedication and quick decision-making ability make him stand apart from others. He has involvement in both B2C and B2B markets.

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