LED Driver Market Share

APAC Market Analysis

The share of the LED driver market in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about 40% by the end of 2035. The significant growth in electronics manufacturing, especially in countries such as China and India owing to rising government policies and initiatives is leading the growth of the LED driver market in the region. World’s most LED lamps are produced in China. China exported around 4.745 billion LED bulbs, accounting for an export value of about USD 4.8 billion in 2022.

North American Market Forecast

The North America LED driver market is estimated to be the second largest, registering a share of about 22% by the end of 2035. The regional market growth is backed by the expanding urbanization and rising development of smart infrastructures in smart cities specifically in States like New York and the United States. The commitment to the smart-city transformation begins, with a more efficient and networked street-lighting system which is estimated to increase the demand for LEDs.

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 Share