LED driver market is anticipated to grow at a significant CAGR of 14.9% during the forecast period (2024-2031). The market growth is attributed to the growing advancement in LED driver development with integration features such as dimming and control, wireless communication, power density, and reducing energy consumption. The increasing demand for better thermal management in high-power LED drivers is further driving the growth of the LED driver market.
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The incorporation of smart technologies is growing increasingly common in the LED driver-manufacturing sector. This involves enabling automation and remote control through the use of wireless connectivity and sensors, which will improve energy efficiency and save costs. The increasing need for products with greater power density that can fit into smaller form factors is another trend. This is especially crucial in applications like the automotive and aerospace sectors where weight and dimension considerations are paramount. Additionally, to lower installation, maintenance, and operating costs, there is a growing need for smart lighting systems in both commercial and residential facilities. It is necessary to reduce energy use while maintaining or improving user and tenant comfort and appeal.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global LED Driver Market by Component
- Driver IC
- Discrete Component
Global LED Driver Market by Luminaire Type
- Type A-Lamps
- T-Lamps
- Reflectors
- Decorative Lamps
- Others (Integral LED Modules)
Global LED Driver Market by Supply Type
- Constant Current
- Constant Voltage
Global LED Driver Market by Application
- Consumer Electronics
- Lighting
- Automotive
- Outdoor Displays
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Acuity Brands, Inc.
- Allegro MicroSystems, Inc.
- ams-OSRAM AG
- Autec Power Systems
- Cree Inc.
- Crestron Electronics, Inc.
- Eaglerise Electric & Electronic (China) Co., Ltd.
- Eaton Corp plc
- Enedo Plc
- ERP Power LLC
- Guangdong KeGu Power Supply Co.
- HEP TECH CO., LTD.
- Hubbell Inc.
- Inventronics Inc.
- Lifud Technology Co., Ltd.
- LTECH
- Lutron Electronics Co., Inc.
- MEAN WELL Enterprises Co., Ltd.
- MOSO Electronics Corp. (MOSO)
- ROHM CO., LTD.
- Semiconductor Components Industries, LLC (onsemi)
- Shanghai Euchips Industrial Co., Ltd.
- Shenzhen Longood Intelligent Electric Co., Ltd.
- Shenzhen SOSEN Electronics Co., Ltd.
- Signify Holding
- The Light Kart
- Tridonic GmbH & Co KG
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the LED driver market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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