Growing Demand for Energy-Efficient Lighting Systems Globally Drives the Growth of LED Driver Market

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 use of standard protocols for lighting management, integration of IoT and lighting, and increasing demand for energy-efficient lighting systems. LED drivers are frequently found in displays, including digital signage, computer monitors, and television screens. To maintain the proper brightness and color temperature of the LEDs in these displays, exact management of voltage and current is necessary.

Browse the full report description of “LED Driver Market Size, Share & Trends Analysis Report by Component (Driver IC, and Discrete Component), by Luminaire Type (Type A-Lamps, T-Lamps, Reflectors, Decorative Lamps, and Others), by Supply Type (Constant Current, and Constant Voltage), and by Application (Consumer Electronics, Lighting, Automotive, and Outdoor Displays) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/led-driver-market

According to the International Energy Agency, in July 2023, to eliminate fluorescent lighting as well to make LEDs the dominant lighting technology. About 50.0% of global residential lighting sales use LED technology. Market players are offering high-power LED drivers that are used to power LEDs that require higher levels of power, such as those used in industrial lighting, stadium lighting, and street lighting. By using LED driver dimming functions, users can improve the lighting environment by adjusting the light intensity. The control characteristics of the LED driver facilitate its interaction with various lighting systems, including building automation systems, thereby enabling remote control and monitoring.

Recent Developments

• In June 2024, NOVOSENSE introduced a 16/24-channel Automotive LED Driver. The compact and highly integrated NSL21916/24 is an automotive-qualified device that offers a variety of driving options for up to 16/24 channels and features flexible dimming and control capabilities.

• In August 2023, Delta Electronics, Inc. introduced EUCO-2.1kW LED drivers, the newest models of its EUCO Arena Sport Series with DALI 2/D4i and DMX/RDM versions. The new DALI model is certified with the D4i standard, an extension of the DALI-2 lighting protocol, to meet demands on integrating IoT connectivity into LED sports lighting and other industrial and commercial lighting applications.

• In March 2024, ES Power introduced a NEW 28F series Constant Current LED Driver with AC Phase-Cut Dimming. The rated power output is 15W, and outputs are available in 8-15V 1000mA, 13-22V 700mA, 18-30V 500mA, 26-43V 350mA, and 30-54V 280mA models. At full load, these drivers provide an outstanding power factor correction greater than 0.9 at 120VAC. The power efficiency is up to 83.0%.

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Component

o By Luminaire Type

o By Supply Type

o By Application

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- Analog Devices, Inc., Infineon Technologies AG, NXP Semiconductors, Texas Instruments Inc., and Toshiba Corp. among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global LED Driver Market Report Segment

By Component

• Driver IC
• Discrete Component

By Luminaire Type

• Type A-Lamps 
• T-Lamps
• Reflectors
• Decorative Lamps
• Others (Integral LED Modules)

By Supply Type

• Constant Current
• Constant Voltage

By Application

• Consumer Electronics
• Lighting
• Automotive
• Outdoor Displays

Global LED Driver Market Report Segment by Region

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 & Africa

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