The global LED Driver For Lighting Market size is set to shine brighter, with an estimated valuation of a stunning USD 25.7 billion in 2023. The future of the market looks radiant, with FMI predicting a magnificent surge in revenue that could surpass USD 150.8 billion by 2033. This brilliant growth trajectory is underpinned by a projected CAGR of 19.4%.
The LED driver has become essential in residential, industrial, and commercial lighting, resulting in reduced electricity costs. The demand for LED drivers is growing given the increasing adoption of LED lights in various applications. Such as outdoor, automotive, industrial, and horticultural lighting.
Key Drivers Boosting the Demand for LED Drivers for Lighting:
Challenges for Market Players in the LED Driver for Lighting Market:
| Attributes | Details |
|---|---|
| Current Year Value (2023) | USD 25.7 billion |
| Expected Forecast Value (2033) | USD 150.8 billion |
| Projected CAGR (2023 to 2033) | 19.4% |
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The market LED driver for lighting size was USD 21 billion in 2022, where it exhibited a CAGR of;24.4%. The adoption of light-emitting diodes in commercial and industrial lighting has increased demand, especially in high-brightness applications. The advancement of lighting components like LED drivers has improved energy efficiency and performance, leading to market growth.
Companies are increasing their investments in research and development to enhance existing lighting solutions. In January 2022, Signify Holdings introduced a new range of Philips Hue intelligent lighting products and features. The goal of these products is to help users create the perfect ambiance indoors and outdoors.
Between 2023 and 2033, the market is forecast to grow by 5.8X, indicating substantial potential opportunities. The market trends are influenced by users who favor their portability and extended lifespan. Efforts are being made to embrace energy-saving alternatives in various industries. These efforts and regulations are playing a significant role in driving market expansion.
LED systems are being widely used by many individuals on their phones, laptops, televisions, and tablets. The reason for this adoption is the lower power consumption and reduced impact on electricity expenses offered by LED technology. This consumer trend is projected to play a significant role in the development of the LED driver market. Moreover, LED drivers play a crucial role in outdoor traffic lighting systems. The transition from conventional incandescent or fluorescent bulbs to energy-efficient LED-based solutions in traffic lights is creating opportunities for LED driver manufacturers.
LED Driver for Lighting Industry Key Trends & Opportunities
| Countries | Projected Market Value (2033) |
|---|---|
| United States | USD 28.3 billion |
| United Kingdom | USD 5.6 billion |
| China | USD 37.9illion |
| Japan | USD 24.4 billion |
| South Korea | USD 7.1 billion |
China holds a prominent position as a key exporter of LED solutions globally. The increasing demand for LED solutions is expected to have a substantial impact on the China LED driver for lighting market growth. The government is actively encouraging the adoption of lighting technology for roadway and highway applications. This is projected to drive the adoption of LED lighting in the country. This, in turn, is likely to open up significant growth opportunities for LED drivers in China.
| Country | China |
|---|---|
| Forecasted CAGR (2023 to 2033) | 19.2% |
In March 2022, the lighting design of the Yangtze River International Conference Center incorporated DALI dimmable LF-AADxxx series LED drivers to meet energy efficiency standards. The Yangtze River International Conference Center was awarded the chief grade mark by the China Green Building Evaluation and Certification System. Manufacturers are focusing on developing LED drivers that offer high efficiency and improved reliability. For instance, MOONS' 240W LED Driver series received D4i certification in April 2020, making it the first D4i LED Driver in Greater China. Additionally, MOONS' became the fourth company in the world to possess a D4i-certified LED Driver.
The United States LED driver for lighting market growth is primarily driven by the increasing adoption of LED lighting solutions. Moreover, the country is witnessing a growing emphasis on energy-efficient lighting systems. The government has implemented several initiatives like Energy Star Program to promote energy-efficient lighting systems.
| Country | United States |
|---|---|
| Forecasted CAGR (2023 to 2033) | 19.3% |
Several states have implemented regulations that restrict the use of hazardous HID bulbs. For instance, in California, aftermarket automotive HID lighting systems emitting visible blue light instead of the mandated white-to-yellow range are prohibited. Key manufacturers are investing in research and development to introduce innovative LED drivers with improved efficiency. For instance, the United States-based Diodes Incorporated introduced the AL5873Q, a three-channel linear LED driver, in June 2021. This new driver is specifically designed to streamline the tail light set design process to support automotive exterior lighting applications.
The Japan LED driver for the lighting market has been witnessing significant growth given the increasing adoption of energy-efficient lighting solutions. In Japan, the application of smart lighting systems has increased in the commercial, residential, and industrial sectors. The market in Japan is witnessing a shift toward DC LED drivers. These drivers offer better compatibility with low-voltage power sources. This makes them suitable for off-grid and renewable energy applications.
| Country | Japan |
|---|---|
| Forecasted CAGR (2023 to 2033) | 19.2% |
Leading manufacturers are focusing on innovation to maintain their competitive edge in the market. In March 2023, Toyoda Gosei Co., Ltd. unveiled a groundbreaking LED driver alert lighting system. It integrates an alert function into decorative lighting. This innovative system has been implemented in the new Toyota Prius vehicle.
The South Korea LED driver for lighting market is likely to emerge as a substantial market during the forecast period. The demand for smart lighting solutions in South Korea is increasing. LED drivers with smart capabilities are gaining popularity in residential and commercial applications. For multi-unit residential buildings, mixed-use residences, and office buildings, the government has implemented green building certification criteria. This promotes the adoption of LED drivers for lighting that comply with the certification requirements.
| Country | South Korea |
|---|---|
| Forecasted CAGR (2023 to 2033) | 18.6% |
Key market players in this country have introduced new LED driver models with enhanced features. For instance, Seoul Semiconductor achieved a significant milestone in March 2018 by developing the smallest 100V / 24W LED driver for lighting in Japan. The LED drivers are called the NanoDriver Series. They create an ultra-miniature device capable of driving LED circuits ranging from 8W to 24W. These drivers utilize Seoul's patented Acrich technology. These drivers are designed with 100V input and meet low flicker requirements.
The United Kingdom has been focusing on energy efficiency in lighting systems to promote sustainability. Government initiatives and regulations promoting energy efficiency support market growth. The United Kingdom LED driver for lighting market is witnessing a surge in demand for LED components. This increase in demand is a result of the European Union's ban on less efficient halogen and incandescent bulbs. Additionally, attractive incentive programs are being implemented to encourage the adoption of LED technology. LED drivers capable of providing human-centric lighting are gaining traction in the country.
| Country | United Kingdom |
|---|---|
| Forecasted CAGR (2023 to 2033) | 19.0% |
Key manufacturers have been expanding their product portfolios by introducing LED drivers with improved efficiency and advanced features. In April 2022, Tridonic GmbH & Co KG introduced two variations of their contemporary GEN 4 LED drivers. These drivers hold the distinction of being the inaugural LED drivers to feature the EMC (Externally Managed Components) sustainability declaration. The entire range of GEN4 driver models possesses a compact height of 16 millimeters, catering to the prevailing demand for miniaturized luminaires.
Principal Consultant
| Segment | Luminaire Type |
|---|---|
| Top Sub-segment | Type A-Lamps |
| Forecasted CAGR (2023 to 2033) | 19.2% |
| Segment | Driving Method |
|---|---|
| Top Sub-segment | Constant Current LED Driver |
| Forecasted CAGR (2023 to 2033) | 18.9% |
Type A-Lamps are designed to directly replace traditional incandescent or compact fluorescent lamps. They do not require any modifications to the existing fixtures. This compatibility simplifies the transition to LED lighting for consumers. This luminaire type utilizes more efficient LED chips. They are compatible with standard sockets. These lamps typically maintain the traditional bulb shape
Type A-Lamps have been in the market for a longer time compared to other LED lamp types. Thus, consumers are more familiar with this form factor and tend to prefer it given its ease of installation and compatibility. Hence, manufacturers and lighting companies tend to prioritize and produce a wide range of options in this segment. This availability of Type A-Lamps makes them more accessible to consumers. This accessibility contributes to their dominance in the market.
The constant current type had a dominant position in the market in 2022. It is expected to continue its prevalence during the forecast period given its extensive usage across various industries. Constant current LED drivers are designed to match the electrical characteristics of LEDs. They are highly preferred for many applications because they offer greater control.
Constant current LED drivers are also favored because they maintain a consistent forward current regardless of voltage fluctuations. This makes them resistant to thermal runaway and prevents over-driving of the LED. Constant current LED drivers often come with built-in dimming capabilities. They provide smooth and flicker-free dimming performance across a wide range of light levels. They are typically more energy-efficient compared to constant voltage drivers.
Key players are actively involved in product innovation, research and development, and strategic partnerships. They aim to expand their global presence to cater to the growing demand for energy-efficient lighting solutions.
Infineon Technologies AG: It is a Germany-based semiconductor manufacturing company. It supplies a wide range of products for various industries. It has also made significant contributions to the field of LED drivers. It offers a range of products and solutions tailored for solid-state lighting applications.
| Recent Development | In January 2023, Infineon Technologies AG and Nichia Corporation collaborated to unveil a groundbreaking micro-LED matrix solution for the automotive industry, known as the 16,384 pixels µPLS micro-Pixelated Light Solution. This innovative lighting system incorporates Nichia's micro-LED technology and integrates an LED driver IC developed by Infineon. |
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Analog Devices, Inc.: It is a United States-based multinational semiconductor company that designs and manufactures different integrated circuits. It has made notable developments in the LED driver area by offering a range of integrated solutions.
| Recent Development | Analog Devices, Inc. revealed in November 2022 that AUO Corporation is going to integrate ADI's matrix LED display driver technology into their automotive widescreen display portfolio. This innovative technology leads to a significant reduction in power consumption by at least 50%. |
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Delta Electronics, Inc.: It is a Taiwan-based multinational company that specializes in power and thermal management solutions. It offers several products and solutions across multiple industries. It has made notable strides in the LED driver sector by providing a diverse range of efficient and superior-quality solutions.
| Recent Development | In July 2020, Delta Electronics, Inc. introduced the EUCO ARENA SPORT Series LED driver, known as EUCO-1K5140GLA. This driver is designed to provide manufacturers with a flexible lighting solution for different industrial and commercial applications. The driver features three independent output channels, each capable of delivering up to 500W of power. |
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Key Players
The market is expected to be valued USD 25.7 billion in 2023.
The market is anticipated to be worth USD 150.8 billion by 2033.
The market recorded a growth of 24.4% between 2018 and 2022.
Through 2033, the market is going to develop at a 19.4% CAGR.
The type A-lamps category is poised for market growth of 19.2%.
The United States market to register a CAGR of 19.3% through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2023 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Luminaire Type 5.1. Type A-Lamps 5.2. T-Lamps 5.3. Integral LED Modules 5.4. Others 6. Global Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Driving Method 6.1. Constant Current LED Driver 6.2. Constant Voltage LED Driver 7. Global Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By End-Use 7.1. Commercial Lighting 7.2. Industrial Lighting 7.3. Residential Lighting 7.4. Outdoor & Traffic Lighting 7.5. Others 8. Global Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Infineon Technologies AG 16.2. Cypress Semiconductor Corporation 16.3. Analog Devices, Inc. 16.4. Cree, Inc. 16.5. Delta Electronics, Inc. 16.6. Hubbell, Inc. 16.7. ams AG 16.8. Diodes, Inc. 16.9. Allegro MicroSystems, Inc. 16.10. Elmos Semiconductor SE 17. Assumptions & Acronyms Used 18. Research Methodology
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LED Driver for Lighting Market
