What Is The Current and Historic Market Size Analysis Of The LED Driver For Lighting Market?
The led driver for lighting market has seen considerable growth due to a variety of factors.
• The LED driver for lighting market has grown exponentially in recent years. It will rise from $25.51 billion in 2024 to $30.85 billion in 2025, at a CAGR of 20.9%.
This growth is fueled by energy efficiency regulations, government incentives, growing environmental awareness, and urbanization and infrastructure development.
What Are The Predictions for The LED Driver For Lighting Market in the Coming Years?
The led driver for lighting market is expected to maintain its strong growth trajectory in upcoming years.
• The LED driver for lighting market is expected to grow to $65.16 billion by 2029, at a CAGR of 20.6%.
The growth is driven by the increasing use of electronic devices, demand for energy-efficient lighting, smart system adoption, and growing automotive lighting applications. Trends include advancements in LED technology, smart lighting, IoT integration, wireless technology adoption, miniaturization, and design customization.
Which Drivers Are Accelerating Growth In The LED Driver For Lighting Market?
The growing number of vehicles is expected to propel the LED driver for lighting market. Increased vehicle demand is driven by factors such as population growth, urbanization, and improved vehicle accessibility. LED drivers are crucial in vehicles, controlling power to LED lights and ensuring their functionality, longer life, and dimming features. For instance, in April 2024, the number of vehicles in the UK reached 41.44 million, marking a 1.7% increase from the previous year. Therefore, the rising vehicle count is driving the growth of the LED driver market.
What Are The Core Segments Of The Global LED Driver For Lighting Market?
The LED driver for lighting market covered in this report is segmented –
1) By Luminaire Type: Type A-Lamps, T-Lamps, Integral LED Modules, Other Luminaire Types
2) By Driving Method: Constant Current LED Driver, Constant Voltage LED Driver
3) By End Use: Commercial Lighting, Industrial Lighting, Residential Lighting, Outdoor And Traffic Lighting, Other End Uses
Subsegments:
1) By Type A-Lamps: Standard A-Lamps, Dimmable A-Lamps, Smart A-Lamps
2) By T-Lamps: T8 Lamps, T5 Lamps, T12 Lamps
3) By Integral LED Modules: Retrofit LED Modules, LED Engine Modules, COB (Chip-On-Board) LED Modules
4) By Other Luminaire Types: Downlights, Panel Lights, Track Lights, Flood Lights, High Bay Lights, Street Lights, Decorative Lights
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Which Emerging Market Trends Are Altering The LED Driver For Lighting Industry?
In the lighting market, primary businesses offering LED drivers are turning their emphasis towards creating innovative technologies, such as integrating the Internet of Things (IoT) into LED lighting systems with the goal of heightening efficiency, control, and connectivity in lighting devices. This type of lighting solution combines the energy-saving properties of LED technology with IoT connectivity. Delta Electronics, an industrial power system provider from Taiwan, for instance, unveiled the EUCO-2.1kW LED drivers for high-powered applications like sports arenas, in August 2023. This product, equipped with the D4i protocol for IoT integration, boasts a robust heat sink design and a broad operating temperature spectrum of -40°C to +50°C, supporting three separate output channels up to 1500W each for a versatile and efficient stadium lighting management.
Who Are the Key Players In The LED Driver For Lighting Market?
Major companies operating in the LED driver for lighting market are:
• Panasonic Corporation
• Toshiba Electronic Devices & Storage Corporation
• Texas Instruments Incorporated
• STMicroelectronics N.V.
• Infineon Technologies AG
• Delta Electronics Inc.
• Analog Devices Inc.
• ON Semiconductor Corporation
• ams AG
• Hubbell Inc.
• ROHM Co. Ltd.
• Maxim Integrated Products Inc.
• Diodes Inc.
• Mean Well Enterprises Co. Ltd.
• Allegro MicroSystems Inc.
• Power Integrations Inc.
• Cree Inc.
• Elmos Semiconductor SE
• Lutron Electronics Co. Inc.
• Fulham Co. Inc.
• Helvar Oy AB
• Cypress Semiconductor Corporation
What Are The Regional Insights Into The LED Driver For Lighting Market?
Asia-Pacific was the largest region in the LED driver for lighting market in 2023. The regions covered in the LED driver for lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
