Press release
Light Emitting Diode (LED) Driver Integrated Circuit (IC) Market Growth Accelerates: Strategic Forecast Predicts $8.84 Billion by 2029
Light Emitting Diode (LED) Driver Integrated Circuit (IC) Market
Light Emitting Diode (LED) Driver Integrated Circuit (IC) Market Size Growth Forecast: What to Expect by 2025?
The market size for the LED driver integrated circuit (IC) has seen significant growth lately. The market, forecasted to expand from $4.51 billion in 2024 to a noteworthy $5.18 billion in 2025, is set to experience a compound annual growth rate (CAGR) of 14.7%. Multiple factors have propelled this growth during the historic period such as a surge in demand for energy-efficient lighting solutions, the escalated incorporation of intelligent lighting systems, the impact of increasing government regulations and policies, heightened awareness on minimizing carbon footprint and environmental impact, and the escalating demand for flexible and personalised LED lighting solutions.
How Will the Light Emitting Diode (LED) Driver Integrated Circuit (IC) Market Size Evolve and Grow by 2029?
The market of light-emitting diode (LED) driver integrated circuit (IC) is projected to experience rapid expansion in the coming years, with a valuation of $8.84 billion and a compound annual growth rate (CAGR) of 14.3% by 2029. This projected growth during the forecast period can be associated with the increasing trend towards dimmable and color-tunable lighting solutions, a surge in construction activities, escalating development in urban infrastructure, rising adoption of electric vehicles, and an increase in the use of color liquid crystal displays. Some significant trends foreseen within the forecast period encompass enhancements in LED driver IC designs, progress in miniaturization and integration of multi-functional features, integration of intelligent control technologies, and creating compact driver integrated circuits.
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What Drivers Are Propelling the Growth of Light Emitting Diode (LED) Driver Integrated Circuit (IC) Market Forward?
The expansion of the automotive industry is accelerating the growth of the market because of the increasing demand for advanced and energy-efficient vehicle lighting systems.
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What Trends Will Shape the Light Emitting Diode (LED) Driver Integrated Circuit (IC) Market Through 2029 and Beyond?
Top corporations in the LED driver IC market are prioritizing the creation of inventive solutions, such as Automotive LED driver ICs, to boost energy efficiency, improve heat management, and integrate advanced features like adaptive lighting, dimming, and intelligent connectivity in vehicles. The term Automotive LED driver IC pertains to the integrated circuits that regulate power supplied to the LED lighting systems in cars, promising stable performance, energy savings, and sophisticated features like adaptive lighting and dimming. Take for example Suzhou Novosense Microelectronics Co. Ltd., a Chinese semiconductor firm, which in June 2024 introduced the NSL21916/24, an advanced 16/24-channel Automotive LED driver IC for contemporary vehicle lighting systems. This sophisticated, automotive-grade gadget can accommodate up to 16 or 24 LED channels with adaptable current control and advanced dimming variants that include PWM and phase shift dimming. Additionally, it touts programmable configurations via built-in EEPROM, UART and CAN communication interfaces, and resilient diagnostics such as LED fault detection and thermal management.
What Are the Key Segments in the Light Emitting Diode (LED) Driver Integrated Circuit (IC) Market?
The light emitting diode (LED) driver integrated circuit (IC) market covered in this report is segmented
1) By Product Type: Buck-Boost, Current Sink, Inductorless, Step-Down (Buck), Step-Up (Boost), Multi-Topology, Other Product Types
2) By Supply Voltage: Low Voltage, Medium Voltage, High Voltage
3) By Application: General Lighting, Automotive Lighting, Display Backlighting, Other Applications
4) By End-User: Residential, Commercial, Industrial, Automotive, Other End-Users
Subsegments:
1) By Buck Boost: Constant Voltage, Constant Current, Programmable, Dimmable
2) By Current Sink: Low Voltage, Medium Voltage, High Voltage, Digital Control
3) By Inductorless: Linear Regulator, Capacitor Based Driver, Resistive Driver, Hybrid Driver
4) By Step-Down (Buck): Synchronous, Asynchronous, Wide Input Range, High Efficiency
5) By Step-Up (Boost): Fixed Frequency, Variable Frequency, High Voltage Output, Integrated Switch
6) By Multi Topology: Buck Boost Combination, Sepic Topology, Flyback Topology, Charge Pump
7) By Other Product Types: Matrix Light Emitting Diode (LED) Driver, Red, Green, And Blue (RGB) Light Emitting Diode (LED) Driver, Flash Light Emitting Diode (LED) Driver, Smart Light Emitting Diode (LED) Driver
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Who Are the Key Players Shaping the Light Emitting Diode (LED) Driver Integrated Circuit (IC) Market's Competitive Landscape?
Major companies operating in the light emitting diode (led) driver integrated circuit (ic) market are Toshiba Corporation, Koninklijke Philips N.V., Texas Instruments Inc., Infineon Technologies AG, STMicroelectronics N.V., NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, Seiko Epson Corporation, Microchip Technology Inc., ON Semiconductor Corporation, Skyworks Solutions Inc., ROHM Semiconductor, Littelfuse Inc., Monolithic Power Systems Inc., Diodes Inc., Seoul Semiconductor Co. Ltd., Semtech Corporation, Power Integrations Inc., SG Micro Corp, Macroblock Inc., Fitipower Integrated Technology Inc., and Samsung Electronics Co. Ltd.
What Geographic Markets Are Powering Growth in the Light Emitting Diode (LED) Driver Integrated Circuit (IC) Market?
North America was the largest region in the light emitting diode (LED) driver integrated circuit (IC) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in light-emitting diode (LED) driver integrated circuit (IC) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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