Press release
Rising Vehicle Numbers Drive Growth In LED Driver For Lighting Market: An Emerging Driver Transforming The LED Driver For Lighting Market Landscape
LED Driver For Lighting Market Size
What Is the Projected Growth of the LED Driver For Lighting Market?
The LED driver for lighting market has experienced exponential growth in recent years. It is projected to rise from $25.51 billion in 2024 to $30.85 billion in 2025, at a compound annual growth rate (CAGR) of 20.9%. The historic expansion can be attributed to energy efficiency regulations, government incentives and subsidies, growing awareness of environmental concerns, and urbanization alongside infrastructure development.
The LED driver for lighting market is anticipated to experience exponential growth in the coming years. It is expected to grow to $65.16 billion by 2029, at a CAGR of 20.6%. Growth is driven by the increasing demand for energy-efficient lighting, the rise in electronic devices, the adoption of smart systems, and growing use in automotive lighting. Trends include advancements in LED technology, smart lighting integration with IoT, wireless technologies, miniaturization, and versatile designs.
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What Are the Different LED Driver For Lighting Market Segments?
The LED driver for lighting market covered in this report is segmented -
1) By Luminaire Type: Type A-Lamps, T-Lamps, Integral LED Modules, Other Luminaire Types
2) By Driving Method: Constant Current LED Driver, Constant Voltage LED Driver
3) By End Use: Commercial Lighting, Industrial Lighting, Residential Lighting, Outdoor And Traffic Lighting, Other End Uses
Subsegments:
1) By Type A-Lamps: Standard A-Lamps, Dimmable A-Lamps, Smart A-Lamps
2) By T-Lamps: T8 Lamps, T5 Lamps, T12 Lamps
3) By Integral LED Modules: Retrofit LED Modules, LED Engine Modules, COB (Chip-On-Board) LED Modules
4) By Other Luminaire Types: Downlights, Panel Lights, Track Lights, Flood Lights, High Bay Lights, Street Lights, Decorative Lights
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What Are the Primary Drivers Shaping the LED Driver For Lighting Market?
The rising number of vehicles is expected to propel the growth of the LED driver for lighting market. As the global vehicle fleet increases, the need for advanced lighting solutions in vehicles grows. LED drivers regulate power to LED lights, enhancing performance and longevity. According to the Society of Motor Manufacturers and Traders (SMMT), the number of vehicles in the UK reached an all-time high of 41.44 million in 2023, driving the demand for LED lighting in vehicles.
Which Companies Are Leading in the LED Driver For Lighting Market?
Major companies operating in the LED driver for lighting market are Panasonic Corporation, Toshiba Electronic Devices & Storage Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Infineon Technologies AG, Delta Electronics Inc., Analog Devices Inc., ON Semiconductor Corporation, ams AG, Hubbell Inc., ROHM Co. Ltd., Maxim Integrated Products Inc., Diodes Inc., Mean Well Enterprises Co. Ltd., Allegro MicroSystems Inc., Power Integrations Inc., Cree Inc., Elmos Semiconductor SE, Lutron Electronics Co. Inc., Fulham Co. Inc., Helvar Oy AB, Cypress Semiconductor Corporation
What LED Driver For Lighting Market Trends Are Gaining Traction Across Different Segments?
In the LED driver for lighting market, prominent companies are keenly focusing on the advancement and development of innovative technologies, particularly ones that integrate LED lighting systems with IoT (Internet of Things). Such systems aim to enhance energy efficiency, control, and connectivity in lighting solutions. In simpler terms, IoT-integrated LED lighting systems fuse the Internet of Things connectivity with the power-efficiency of LED technology. For example, Delta Electronics, a renowned industrial power system firm based in Taiwan, in August 2023, introduced the EUCO-2.1kW LED drivers, outfitted with the D4i protocol for IoT integration. These are designed for high-powered usage, example, in sports stadiums. Their robust heat sink design and operating temperature range of -40°C to +50° withstand extreme conditions. Moreover, they consist of three independent output channels that support up to 1500W each, thereby providing more flexibility and efficiency for stadium lighting management.
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What Are the Top Revenue-Generating Geographies in the LED Driver For Lighting Market?
Asia-Pacific was the largest region in the LED driver for lighting market in 2023. The regions covered in the LED driver for lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the LED Driver For Lighting Market?
2. What is the CAGR expected in the LED Driver For Lighting Market?
3. What Are the Key Innovations Transforming the LED Driver For Lighting Industry?
4. Which Region Is Leading the LED Driver For Lighting Market?
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