LED Driver Market Analysis

LED Driver Segmentation

Driver Type (Constant Voltage, Constant Current)

The constant current driver type is anticipated to hold the largest share of 60% by the end of 2035. The growing utilization of constant current drivers in industrial LED lighting applications is expected to propel the segment’s growth. Varying voltage is supplied to the light to maintain a constant current by these current drivers. These designs make the LED just need a fixed current and to withstand a range of voltages. Hence, the rise in the demand for constant current drivers for LED downlights or high-powered LEDs as they can control the electrical current is anticipated to lead the market growth.

End-User (Residential, Commercial, Industrial)

The commercial segment is estimated to garner the highest revenue share of 45% by the end of 2035. The high efficiency, extended lifespans, lower energy consumption, and directional nature of LEDs make them ideal for commercial uses. As per research, 50% of commercial buildings in the U.S. use lighting control. Moreover, the rising use of LEDs in parking garage lighting, walkway, street lights, and other outdoor area lighting is anticipated to boost the segment’s growth.

Our in-depth analysis of the global market includes the following segments:

Driver Type	Constant Voltage Constant Current
Luminaire Type	Decorative Lamps Type A Lamp Reflectors, Others
Component	Driver IC Discrete Component
Control Feature	Wired Wireless
Application	General Lighting Electronic Devices Automotive Lighting Lighting Outdoor Display
End-User	Residential Commercial Industrial

Frequently Asked Questions (FAQ)

The increasing elimination of fluorescent lighting and the growing adoption of LEDs as the main lighting technology are the major factors driving the growth of the LED driver market.

The market size of LED drivers is anticipated to attain a CAGR of ~20% over the forecast period, i.e., 2023 â€“ 2035.

The major players in the market are Inventronics Inc., Signify Netherlands B.V., Smart Global Holdings, Inc., Microchip Technology Inc., and Lutron Electronics Co.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by driver type, luminaire type, component, control feature, application, end-user, and by region.

The constant current segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The possibility of premature failures of LED drivers owing to high internal operating temperature is estimated to be the growth hindering factor for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

LED Driver Market Analysis