Global LED Driver Market Size, Trends & Growth Opportunity), By Driver Method (Constant Voltage LED Driver, and Constant Current LED Driver), By Luminaire Type (Decorative Lamps, Integral LED Modules, Reflectors, T-Lamps, and Type A-Lamps), By End User, B

Global LED Driver Market Size, Trends & Growth Opportunity), By Driver Method (Constant Voltage LED Driver, and Constant Current LED Driver), By Luminaire Type (Decorative Lamps, Integral LED Modules, Reflectors, T-Lamps, and Type A-Lamps), By End User, By Region and Forecast till 2027>

Global LED Driver Market

Global LED Driver Market was valued at USD 22.61 billion in 2021 which is expected to reach USD 59.82 billion by 2027 at a CAGR 12.95%.

LED driver is the power supply that modulates the power required to energize the LEDs or arrays of LEDs. These drivers are used to rectify the AC to DC (alternating current into direct current), as it works on direct current (DC). LED drivers are able to prevent the circuitry from overfeeding as it is a current driven component. These are widely used in various industries such as automotive, general, and back lighting.

Market Drivers

Continuous technological advancement in lighting components has enabled energy-efficiency and improved performance which is expected to increase the demand for LED driver during this forecast period. Furthermore, increase in penetration of LED lightings in several applications like outdoor, automotive, industrial, and horticulture will positively contribute the market growth. Also, increase in research and development activities by key competitors for improvement of existing lighting solutions expected to drive the market. Governments of many countries are investing on smart city developments and technologically advanced and sustainable living spaces which expected to fuel the market growth. In addition to that, rise in demand for IOT based smart lighting solutions is growing will significantly led the market growth.

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Market Restraints

However, high cost of installation for LED drivers is the major challenging factor which is expected to hinder the global LED Driver market growth. Also, lack of common standards among various manufacturers will affect the global LED driver market growth during this forecast period.

Market Segmentation

Global LED Driver Market is segmented into driver method such as Constant Voltage LED Driver, and Constant Current LED Driver, by Luminaire Type such as Decorative Lamps, Integral LED Modules, Reflectors, T-Lamps, and Type A-Lamps. Further, market is segmented into end user such as Residential Lighting, Outdoor & Traffic Lighting, Industrial Lighting, Commercial Lighting, and Others.

Also, Global LED Driver Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Regional Analysis

Asia pacific will dominate the market with largest share. And this dominance of the Asia Pacific region is due to the greater demand for energy-saving lighting systems and an increase in the regional population.

North America and Europe are also anticipated to witness a significant rise with the growing adoption of LED lighting across high and low-end automotive segments.

Market Key Players

Various key players are discussed in this report such as Koninklijke Philips N.V., Texas Instruments, Inc, Osram GmbH, Maxim Integrated, Inc., Harvard Engineering, Atmel Corporation, Macroblock, Inc., General Electric, and Cree, Inc.

Industry development

March 2022 - Signify Holdings and Perfect Plants expand collaboration on cannabis on grow lights. As an LED driver is the brain of an LED lighting system, signify supplies flexible GreenPower LED systems. Two new climate cells are equipped with dimmable Philips GreenPower LED toplighting compact grow lights and the Philips GrowWise Control System, providing a light system that can be used effectively and efficiently in every growth phase.

January 2022 - Acuity brands inc is expanding its collaboration with Microsoft to bring new capabilities to Acuity Brands' smart lighting, lighting controls, and building automation solutions. Acuity Brands has a bold goal to avoid 100m metric tons of carbon emissions due to projected 2020-2030 sales of LED luminaires, lighting controls, LED drivers, and building management systems replacing older technologies in existing buildings.

Market Taxonomy

By Driver Method

• Constant Voltage LED Driver
• Constant Current LED Driver

• Decorative Lamps
• Integral LED Modules
• Reflectors
• T-Lamps
• Type A-Lamps

• Residential Lighting
• Outdoor & Traffic Lighting
• Industrial Lighting
• Commercial Lighting
• Others

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

• What are the Key Opportunities in Global LED Driver Market?
• What will be the growth rate from 2022 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?