LED Driver Market Research, 2030
The Global LED Driver Market size was valued at $7,400.1 million in 2020, and is projected to reach $79,333.3 million by 2030, registering a CAGR of 27.2% from 2021 to 2030.
LED drivers protect LEDs from voltage or current fluctuations. They are designed to run on low voltage and direct current electricity. They are used to keep the voltage and current flowing through an LED circuit at its rated level. LED tranformer are used in residential, industrial and commercial sectors to protect LED’s.
Rise in adoption of energy-efficient lighting, increase in the development of programmable LED drivers, and surge in adoption of smart infrastructure in developing regions drive the LED driver market growth. However, high installation cost is expected to pose major threats for the global market. Furthermore, emergence of IoT enabled lighting solutions is expected to offer lucrative opportunities for the growth of the global LED driver market revenue.
According to LED driver market trends, increase in competition and low awareness among small scale manufactures are the key factors that hamper the growth of the market. Rise in awareness for need of automotive LED driver and surge in need of safety and protection are the factors opportunistic for the market growth.
Segmentation Overview
The global LED driver market share is segmented on the basis of luminaire type, supply type component, and end user. By luminaire type, the market is divided into decorative lamps, reflectors, type A lamp, and others. By supply type, the market is bifurcated into constant current and constant voltage. By component, the market is classified into driver IC, discrete components, and others. By end user, the market is analyzed across residential, commercial, and industrial. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
The key players profiled in the LED driver industry include Texas Instruments, Osram GmbH, Maxim Integrated, Atmel Corporation, General Electric Company, ROHM Semiconductors, Macroblock Inc., ON Semiconductor, Cree, Inc., and AC Electronics. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaborations, to enhance their LED driver industry penetration.
By Luminare Type
Decorative Lamps segment is projected as one of the most lucrative segments.
COVID-19 Banner:
The ongoing spread of COVID-19 has become one of the biggest threats to the global economy and is causing widespread concerns and economic hardship for consumers, businesses, and communities across the globe. The “new normal” that includes social distancing and working from home has created challenges with daily activities, regular work, needs, and supplies, causing delayed initiatives and missed opportunities.
By Supply Type
Constant Voltage segment is projected as one of the most lucrative segments.
The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is on an increase and is affecting the supply chain. This creates uncertainty in the stock market, decreases business confidence, slows supply chain, and increases panic among customers. European countries under lockdown have suffered a major loss of business and revenue due to shutdown of manufacturing units in the region. Operations of production and manufacturing industries have been heavily impacted by the outbreak of COVID-19, which led to slowdown in growth of the LED driver market in 2020.
By Components
Constant Voltage segment is projected as one of the most lucrative segments.
According to the LED driver market trends, the COVID-19 pandemic has severely impacted the global manufacturing and industrial sectors as production facilities have stalled, which, in turn, led to significant demand in industries.
By Industry Vertical
Commercial segment is projected as one of the most lucrative segments.
The emergence of COVID-19 has declined the growth of the LED driver market in 2020, and is estimated to witness slow growth till the end of 2021. Implementation of partial or complete lockdown across various countries globally is the prime reason for decline in growth rate. As industries were temporarily shut, it reduced the need for maintenance from various industries.
By Region
Asia-Pacific would exhibit the highest CAGR of 29.8% during 2020-2030
Top Impacting Factors
Notable factors positively affecting the growth of the LED driver industry include surge in adoption of energy-efficient lighting, increase in the development of programmable LED drivers, and rise in adoption of smart infrastructure in developing regions. However, high cost for the installation is expected to pose major threats for the growth of the LED driver market. Furthermore, emergence of IoT enabled lighting solutions is expected to offer lucrative opportunities for the market growth in the coming years.
Surge in adoption of energy-efficient lighting
Surge in adoption of efficient lighting is due to its benefits over other lights as lighting is widely used in everyday life enabling people to work in homes, offices, and factories. The adoption of efficient lighting is on an increase owing to its benefits such as long shelf-life and greater energy savings. Also, energy-efficient lighting is usually the lowest life-cycle cost option. It reduces peak loading, lowers customer bills, and reduces mercury and the volume of the material. Thus, there is an increase in the rise in adoption of light emitting diodes for better efficiency. LED works as energy efficient lighting which boost its adoption in different industries positively impacting the growth and its demand, which, in turn, drives the LED driver market growth.
High cost for the installation
LED driver provides LEDs with the electricity they require to function and perform at their best. LED driver is installed in the circuit of LED which is complex, hence the associated cost is high. Also, LED driver protects an LED bulb from any electrical current fluctuation, so proper installation is important for long-life spans and energy-efficiency. This increases the installation costs, which in turn hampers the growth of the LED driver market.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the LED driver market size along with the current trends and future estimations to depict imminent investment pockets.
- The overall LED driver market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The present LED driver market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the sensor market share of key vendors.
- The report includes the trends and the LED driver market share of key vendors.
Key Market Segments
By Luminaire Type
- Decorative Lamps
- Reflectors
- Type A Lamp
- Others
By Supply Type
- Constant Current
- Constant Voltage
By Component
- Driver IC
- Discrete Components
- Others
By Industry Vertical
- Residential
- Commercial
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Singapore
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
LED Driver Market Report Highlights
| Aspects | Details |
 By Luminaire Type |
|
 By Supply Type |
|
 By Component |
|
 By Industry Vertical |
|
 By Region |
|
 Key Market Players | ON SEMICONDUCTOR CORPORATION (ONSEMI), AC ELECTRONICS, AMS OSRAM, ROHM CO., LTD. (ROHM SEMICONDUCTOR), MACROBLOCK, INC., MICROCHIP TECHNOLOGY INC. (ATMEL CORPORATION), HATCH LIGHTING, MAXIM INTEGRATED PRODUCTS, INC., SMART GLOBAL HOLDINGS, INC. (CREELED, INC.), TEXAS INSTRUMENTS INC. |
Analyst Review
The LED driver market is competitive, owing to strong presence of existing vendors. LED driver vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
The LED driver market holds a substantial scope for growth on a global scale. Its contribution to the market is anticipated to increase significantly within the span of the forecasted period. Recent discoveries and innovations have created vast opportunities for numerous players to step in the LED driver market.
Surge in adoption of energy-efficient lighting, increase in the development of programmable LED drivers, and rise in adoption of smart infrastructure in developing regions drive the market growth. High cost for the installation is the biggest limitation for the market growth.
Surge in competition and reduced awareness among small scale manufactures are the key factors that hamper the growth of the market. Increase in awareness for need of LED driver and rise in concern for LED protection are opportunistic for the growth of the market growth.
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