The global LED Driver market size is expected to be worth around US$ 15.21 billion by 2030, according to a new report by Vision Research Reports.
The global LED Driver market size was valued at US$ 5.7 billion in 2020 and is anticipated to grow at a CAGR of 17.3% during forecast period 2021 to 2030.
|Market Size||USD 15.21 billion by 2030|
|Growth Rate||CAGR of 17.3% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Supply Type, application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Atmel Corp.; AC Electronics; Cree, Inc.; Harvard Technology Ltd.; General Electric Company; Koninklijke Philips N.V.; Macroblock, Inc.; Lutron Electronics Co., Inc.; Maxim Integrated Products, Inc.; On Semiconductor Corp.; NXP Semiconductors N.V.; Osram GmbH; STMicroelectronics; Texas Instruments, Inc.; and ROHM Semiconductors.|
the rising demand for IoT-based connected lighting solutions due to the rising number of smart homes in developed countries will contribute to the LED driver market growth. Furthermore, governments of various countries have launched Smart City initiatives to improve the energy-efficiency of populated cities, which is anticipated to boost the market further.
The consumer electronics segment is the largest application segment in the market as LEDs have extensive demand in television and display panels applications. Many leading manufacturers are collaborating with other companies to deliver public lighting systems to cities around the world connected with remote management for energy saving and efficient maintenance. For instance, Philips Lighting N.V. has collaborated with Vodafone Limited to deploy IoT-based wireless Smart Street lighting across the globe.
By Supply Type Analysis
The constant current type led the market in 2020 and is anticipated to remain prevalent over the upcoming years owing to their high usage across the industry. For several applications, it is desirable to utilize constant current products as they offer more control and ability to design uniform brightness and clear display.
Constant voltage driver distributes the voltage equally, providing equal luminescence. However, these are less efficient as they are unable to stabilize the current influx, thus consuming more energy than constant current drivers.
By Application Type Analysis
Replacement of conventional light sources, such as CFL and incandescent, LED lightings will drive the market as these lightings require advanced drivers. Consumer electronics is anticipated to be the largest segment over the forecast years, owing to increasing adoption of smartphones and LED TVs in developing countries.
Automotive is projected to be the second fastest-growing application segment due to preference for high-brightness LED and LASER lights over conventional HID and halogen lights. Moreover, a lot of economies have implemented regulations to stop the use of hazardous HID bulbs.
By Regional Analysis
Asia Pacific accounted for the highest share in 2020 and is anticipated to expand further at a CAGR of 16.7% from 2021 to 2030. This growth is attributable to government subsidies, improving manufacturing facilities, and increasing penetration of LED lighting in the region.
rapid economic expansion and an increasing number of households coupled with growing access to electricity in rural areas are further elevating the domestic market. Moreover, a decline in the average selling price of the drivers along with technological advancements, has resulted in high product demand across the lighting industry.
North America and Europe are also expected to witness a rise with the increasing adoption of LED lighting across high- and low-end automotive segments. Countries, such as the U.S. and Canada, witnessed increased adoption of the technology for outdoor applications.
Atmel Corp.; AC Electronics; Cree, Inc.; Harvard Technology Ltd.; General Electric Company; Koninklijke Philips N.V.; Macroblock, Inc.; Lutron Electronics Co., Inc.; Maxim Integrated Products, Inc.; On Semiconductor Corp.; NXP Semiconductors N.V.; Osram GmbH; STMicroelectronics; Texas Instruments, Inc.; and ROHM Semiconductors.
Middle East & Africa
The LED Driver market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of LED Driver market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global LED Driver market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the LED Driver market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted LED Driver market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the LED Driver capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of LED Driver by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global LED Driver market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major LED Driver market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of LED Driver market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the LED Driver industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
LED Driver market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to LED Driver market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of LED Driver market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new LED Driver market. These factors have benefited the growth of the global market for LED Driver. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for LED Driver. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of LED Driver are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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