Press release
2025 Automotive LED Drivers Industry Trends Report: Long-Term Outlook Through 2034
Automotive LED Drivers Market
How Large Will the Automotive LED Drivers Market Size By 2025?
There has been a remarkable surge in the size of the automotive LED drivers market in the latest years. In terms of growth, it is anticipated to rise from $9.98 billion in 2024 to $12.3 billion in 2025, indicating a compound annual growth rate (CAGR) of 23.2%. The escalation observed in the historic phase can be linked to a surge in vehicle electrification, an upward trend in consumer demand for hi-tech features, regulatory incentives for energy efficiency, OEM's efforts for eco-friendly solutions, and heightened safety and visibility specifications.
How Big Is the Automotive LED Drivers Market Size Expected to Grow by 2029?
The market size for automotive LED drivers is anticipated to experience a substantial expansion in the forthcoming years, climbing to $27.99 billion in 2029 with a 22.8% compound annual growth rate (CAGR). The surge during the projection period is due to the escalated adoption of electric vehicles, burgeoning demand for sophisticated driver assistance systems, growth in the automobile sector, and increased demand for energy-saver lighting. The forecast period will witness significant trends such as progress in LED driver technology, the incorporation of intelligent lighting systems, traditional lighting technologies, creation of compact drivers, and alliances and partnerships.
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Which Key Market Drivers Powering Automotive LED Drivers Market Expansion and Growth?
The automotive LED driver market is anticipated to grow in line with the burgeoning automotive industry. This expansive and lively industry includes a range of services and businesses such as car manufacturing, parts suppliers, selling, marketing, and motor vehicle development. The upwards trajectory of the automotive industry can be attributed to car-sharing services, mobility-as-a-service (MaaS) solutions, and ride-sharing platforms. Automotive LED drivers play a critical role in present-day vehicles, ensuring the LED lighting systems-used for taillights, headlights, exterior accent lighting, safety systems, and interior lighting-run efficiently and reliably. The International Organization of Motor Vehicle Manufacturers, a trade association originating from France, reported a production increase from 85.10 million cars and commercial vehicles in 2022 to 93.55 million in 2023. Further to that, the Belgium-based European Automobile Manufacturers' Association (ACEA) stated that there was a production of 85.4 million motor vehicles globally in 2022, presenting a 5.7% increase from 2021 figures. This expanding automotive industry is fuelling the growth of the automotive LED driver market.
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Which Fast-Growing Trends Are Poised to Disrupt the Automotive LED Drivers Market?
Key players in the automotive LED drivers market are making strides in the development of intelligent multichannel LED controllers. They do so to augment energy efficiency, fine-tune control of light production, facilitate better integration with hi-tech lighting systems, and promote dynamic lighting features such as adaptable headlights and custom-made interior lighting. A cutting-edge electronic device, a smart multichannel LED controller is utilized for steering multiple LED channels or clusters of LEDs separately within a lighting system. For example, in October 2022, Melexis, a firm based in Belgium that specializes in providing micro-electronic semiconductor solutions introduced the MLX81143 LED driver - the newest addition to its MeLiBu family. Comprising 21 LED drivers, it boosts the power management of the entire system. The MLX81143 has a wide-ranging dimming range, which facilitates perfect brightness alterations suitable for both daylight and nighttime conditions. This trait is vital for ensuring visibility and comfort across different driving conditions.
What Are the Emerging Segments in the Automotive LED Drivers Market?
The automotive LED drivers market covered in this report is segmented -
1) By Product Type: Single Channel Drivers, Dual Channel Drivers, Other Product Types
2) By Supply Type: Constant Current, Constant Voltage
3) By Application: Passenger Cars, Commercial Vehicles, Other Applications
Subsegments:
1) By Single Channel Drivers: Constant Current Single Channel Drivers, Pulse Width Modulation (PWM) Single Channel Drivers, Integrated Single Channel Drivers
2) By Dual Channel Drivers: Constant Current Dual Channel Drivers, PWM Dual Channel Drivers, Integrated Dual Channel Drivers
3) By Other Product Types: Multi-Channel Drivers, Programmable LED Drivers, Digital LED Drivers, High-Power LED Drivers, RGB LED Drivers
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Who Are the Global Leaders in the Automotive LED Drivers Market?
Major companies operating in the automotive LED drivers market are Samsung Electronics Co. Ltd., Texas Instruments Inc., STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corp., Microchip Technology Inc., Signify N.V., Rohm Co. Ltd., Maxim Integrated Products Inc., Diodes Incorporated, Monolithic Power Systems Inc., Melexis Technologies NV, Allegro Microsystems LLC, OSRAM GmbH, Power Integrations Inc., Cree Inc., ABLIC Inc., Lumileds Holding B.V., Richtek Technology Corporation, HLI Solutions Inc., ACE LEDS, Xidas IoT Inc.
Which are the Top Profitable Regional Markets for the Automotive LED Drivers Industry?
Asia-Pacific was the largest region in the automotive LED drivers market in 2023. The regions covered in the automotive LED drivers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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