Press release
2025-2034 LED Driver For Lighting Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
LED Driver For Lighting Market
What Will the LED Driver For Lighting Industry Market Size Be by 2025?
The market size for LED drivers for lighting has escalated remarkably in the past few years, rising from $25.51 billion in 2024 and projected to soar to $30.85 billion in 2025, realizing a compound annual growth rate (CAGR) of 20.9%. Factors such as energy efficiency norms, government schemes and subsidies, increased consciousness of environmental impacts, as well as advances in urbanization and infrastructure account for this tremendous growth in the historic period.
What's the Long-Term Growth Forecast for the LED Driver For Lighting Market Size Through 2029?
The market size for LED drivers for lighting is projected to experience impressive expansion in the upcoming years, reaching a value of $65.16 billion by 2029, with a compound annual growth rate (CAGR) of 20.6%. The growth predicted in the forecast period is due to factors such as the booming popularity of electronic devices, mounting demand for energy-efficient lights, increased implementation of smart systems, and growing usage in automotive lighting. The significant trends anticipated during the forecast period encompass cutting-edge developments in LED technology, the integration of smart lighting and IoT, the use of wireless technologies, miniaturization and sophisticated designs, as well as customization and versatility.
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What Are the Key Growth Drivers Fueling the LED Driver For Lighting Market Expansion?
The LED driver for lighting market is anticipated to expand due to the increasing quantity of automobiles. The growth in population, urbanization, elevated economic performance, and enhanced access to cost-effective vehicles through various financing options are contributing to the heightened demand for vehicles. The role of LED drivers is essential as they maintain a consistent supply of power to LED lights, safeguard against voltage variations, increase lifespan, and allow adjustments in brightness or dimming features. For example, the Society of Motor Manufacturers and Traders Ltd. (SMMT), a trade organization from the UK, reported that the number of vehicles on UK roads in April 2024 reached a record 41.44 million in 2023, a rise of 1.7% over the previous year. Consequently, the increasing count of automobiles is promoting the expansion of the LED driver for lighting market.
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What Are the Key Trends Driving LED Driver For Lighting Market Growth?
Leading firms in the LED driver for lighting market are concentrating on creating advanced technologies like IoT-integrated LED lighting systems, with the aim of enhancing energy efficiency, control, and connectivity in lighting systems. IoT-integrated LED lighting systems merge the energy conserving LED technology with the connectivity of the Internet of Things (IoT). An illustration of this is in August 2023 when Delta Electronics, an industrial power systems supplier based in Taiwan, introduced the EUCO-2.1kW LED drivers. These are designed for high-powered applications such as sports arenas and are equipped with the D4i protocol for IoT integration. They come with a durable heat sink design and a wide operating temperature range from -40°C to +50°C. Additionally, they accommodate three individual output channels up to 1500W each, providing adaptability and efficiency in stadium lighting management.
How Is the LED Driver For Lighting Market Segmented?
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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Which Companies Are Leading the Charge in LED Driver For Lighting Market Innovation?
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
Which Regions Are Leading the Global LED Driver For Lighting Market in Revenue?
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.
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