The global LED driver market was valued at USD 18.87 billion in 2024 and is anticipated to reach a valuation of USD 23.32 billion in 2025, from USD 126.85 billion by 2033, growing at a CAGR of 23.58% during the forecast period from 2025 to 2033.
LED drivers are the power supply that is self-contained and can regulate the power required for the LED or an array of LEDs. These LEDs (light-emitting diodes) are the lighting devices that have a long lifespan and lowest energy-consuming lighting devices, which is why there is a need for a specialized power supply.
These LEDs have been emerging as an energy-efficient alternative to traditional lighting sources for some time now. Therefore, LED demand is extensively growing in the lighting and display segments from various industries. Additionally, owing to the benefits of these LEDs, such as longer life, lower heat output, miniaturization, higher energy efficiency, and directionality, these lights are replacing traditional lighting items.
The rising adoption of these LED lighting systems from general lighting applications is the major factor that was driving the growth of the Global LED Drivers business. This adoption of these LEDs is due to the growing demand for lighting systems that are energy-efficient, the convergence of IoT & lighting, and the acceptance of standard policies for lighting control.
Further, advancements in wireless technologies and the development of LED drivers that can be programmed are providing lucrative opportunities for the expansion of target market players.
However, unfair aspects of the high costs involved in the installation of these LED drivers are the major challenge that is hampering the growth of the LED Driver Market globally.
REPORT METRIC |
DETAILS |
Market Size Available |
2024 to 2033 |
Base Year |
2024 |
Forecast Period |
2025 to 2033 |
CAGR |
23.58% |
Segments Covered |
By Driving Method, Luminaire Type, Component, Application, and Region. |
Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Osram GmbH (Germany), Harvard Technology Ltd. (UK), Texas Instruments (US), Maxim Integrated (US), Macroblock Inc. (Taiwan), Atmel Corporation (US), General Electric Company (US), Cree, Inc. (the US), ROHM Semiconductors (Japan), ON Semiconductor (US), AC Electronics (US), Signify Holding (Netherlands), Lutron Electronics Co., Inc. (US), NXP Semiconductors N.V. (Netherlands), and STMicroelectronics N.V. (Switzerland), and Others. |
Among these segments, the constant current LED driver segment is the segment that holds the major share of the global LED driver market. The growth of this segment is attributed to its capability that provide constant brightness along with lower power consumption. Also, the surge in demand for these LEDs in general lighting applications is supporting the development of the constant current LED variant.
The backlighting application segment dominates the global LED driver market. The growth of the dominance of this segment is due to the predominant usage of mobile computing devices like smartphones and tablets.
In the regional analysis of the global LED driver market, Asia Pacific held the major share of the target market's revenue. Also, the market in this region is predicted to record a substantial boom over the forecast period. The major factor that boosted the growth of the market in this area was the rising penetration of LED lighting in the automotive and building & construction industries. In the Asia-Pacific region, the LED Driver Market in China is growing rapidly, owing to the growing production and consumption of LED lighting in this country. The other factor that was driving the growth of the LED Driver Market in the Asia-Pacific region is the growing upgradation of infrastructure, which is the factor that was fuelling the demand for lighting products in this region.
And, the regional LED driver market in Europe is the market that follows the Asia-Pacific regional market in terms of size. The soaring concentration of players in the market and the ease of availability of technical expertise are supporting the business. Further, the growing adoption of these LEDs in smart buildings, owing to the IoT and lighting convergence in Europe, is boosting the growth of the LED driver market in this locale.
Osram GmbH (Germany), Harvard Technology Ltd. (UK), Texas Instruments (US), Maxim Integrated (US), Macroblock Inc. (Taiwan), Atmel Corporation (US), General Electric Company (US), Cree, Inc. (the US), ROHM Semiconductors (Japan), ON Semiconductor (US), AC Electronics (US), Signify Holding (Netherlands), Lutron Electronics Co., Inc. (US), NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland). These are the market players that are dominating the global LED driver market.
This research report on the global LED driver market is segmented and sub-segmented into the following categories.
By Driving Method
By Luminaire Type
By Component
By Application
By Region
Frequently Asked Questions
The Global LED Driver Market is expected to grow with a CAGR of 23.58% between 2023-2028.
The Global LED Driver Market size is expected to reach a revised size of US$ 43.49 billion by 2028.
General Electric Company (US), Cree, Inc. (the US), and ROHM Semiconductors (Japan) are the three LED Driver Market key players.
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