According to a new market report published by Lucintel, the future of the LED driver market looks attractive with opportunities in the residential, commercial, industrial, backlight, and automotive lighting sector. The global LED driver market is expected to reach an estimated $21.9 billion by 2027 with a CAGR of 15% from 2021 to 2027. The major drivers for this market are increasing building and construction activities, favorable government regulation for energy efficiency, and increasing adoption of LED lightings in emerging countries.
In this market, constant current and constant voltage LED drivers are used to regulate the power supply in general, backlight, and automotive lighting applications. Lucintel forecast that constant current LED driver will remain the largest supply type; it is also expected to witness the highest growth due to ability to provide consistent brightness with lower power consumption and increasing demand in LED backlighting and general lighting applications.
Within the LED driver market, general lighting segment will remain the largest market; it is also expected to witness highest growth rate due to increasing demand for energy-efficient products in residential and commercial lighting, increasing usage of the LED driver for building and lighting management system, and decreasing price of LEDs.
Asia Pacific is expected to remain the largest region; it is also expected to witness highest growth over the forecast period due to increasing penetration of LED lighting in automotive and building & construction industry. Production and consumption of LED lighting in China is highest; modernization of infrastructure is expected to propel the demand for lighting products in China.
Emerging trends, which have a direct impact on the dynamics of the industry, including the development of visible light communication (VLC) led drivers and development of color tunable LED driver. Texas Instruments, Toshiba Semiconductor, STMicroelectronics, ON Semiconductor, and ROHM Semiconductor are among the major suppliers of the LED driver.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global LED driver market by supply type, luminaire type, application, and region and has come up with a comprehensive research report titled “Growth Opportunities in the Global LED Driver Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global LED driver market by supply type, luminaire type, application, and region as follows:
By Supply Type [$M shipment analysis from 2016 to 2027]:
Constant Current
Constant Voltage
By Luminaire Type [$M shipment analysis from 2016 to 2027]:
Type A Lamp
Decorative Lamp
T Lamp
Reflectors
Others
By Application [$M shipment analysis from 2016 to 2027]:
Residential
Office
Shop
Hospitality
Outdoor
Industrial
Architectural
Headlamps
Daytime Running Lights (DRLs)
Sidelights
Rear Lights
Interior
LCD TV
Monitor
Portable PCs
Handhelds
By Region [$M shipment analysis for 2016 – 2027]:
United States
Canada
Mexico
United Kingdom
Germany
France
Switzerland
This 183-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.