LED Driver Market Growth Drivers and Challenges:
Growth Drivers
- Increasing Investment in Smart-City Applications – the increasing number of smart cities and the replacement of aging infrastructure worldwide is bolstering the demand for LED drivers with most streets and outdoor areas being upgraded to light-emitting diode (LED) lighting. For instance, as per forecasts, the majority of outdoor streetlights globally are expected to be converted to LED lamps by 2030. With around 300 million streetlights worldwide, most of the work is still ahead to upgrade aging infrastructure.
- Net Zero Emissions by 2050 Scenario – As per International Energy Agency’s (IEA) roadmap, transforming the global buildings sector and reducing global carbon emissions by implementing and enforcing regulations in the buildings sector to ensure the switch in the global lighting market to 100% LED by 2025 is anticipated to compel the adoption of LED lighting at a faster pace, which is expected to propel the market growth.
Challenges
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Lack of Standardization: With a lack of proper standardization, interoperability issues arise and lead to compatibility issues. This is known to be a growth-hindering factor.
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Possibility of Failures of LED Drivers prematurely
- Slow Rate of Penetration in Underdeveloped Countries
LED Driver Market Size and Forecast:
|
Base Year |
2025 |
|
Forecast Period |
2026-2035 |
|
CAGR |
15.5% |
|
Base Year Market Size (2025) |
USD 15.17 billion |
|
Forecast Year Market Size (2035) |
USD 64.09 billion |
|
Regional Scope |
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Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2026, the industry size of LED driver is assessed at USD 17.29 billion.
The global LED driver market size was valued at over USD 15.17 billion in 2025 and is expected to register a CAGR of more than 15.5%, exceeding USD 64.09 billion revenue by 2035.
The Asia Pacific LED driver market is projected to capture a 40% share by 2035, driven by significant growth in electronics manufacturing, especially in countries such as China and India owing to rising government policies and initiatives.
Key players in the market include Inventronics Inc., Signify Netherlands B.V., Smart Global Holdings, Inc., Microchip Technology Inc., Lutron Electronics Co., Ltd, Samsung Electronics Co., Ltd., Macroblock, Inc, NXP Semiconductors, N.V., Semiconductor Components Industries, LLC, ams OSRAM, Rohm Co., Ltd.
