LED (Light-emitting Diode) Driver Market Is Predicted To Reach USD 14.19 Billion By 2024

Global LED (Light-emitting Diode) Driver Market is predicted to reach USD 14.19 billion by 2024 owing to the growing number of infrastructural projects worldwide for development.LED driver is an electrical device, which transmits power to the string of LED in a synchronized manner. It prevents the LED from facing premature failure by managing thermal runaway. An LED driver maintains the LED temperature and avoids bad performance.

Increasing demand for LEDs in office complexes, retail shops, streetlights & traffic signals, and rapidly growing uses for residential lighting applications for households are major drivers of LED driver market. However, the key restraint in the market include understanding of the gap between product cost and consumer benefit. Moreover, growing commercial and residential applications of LEDs and benefits of LED drivers are propelling the demand for LED drivers. The development in color tunable LED drivers and advancement of VLC (visible light communication) LED drivers are the recent trends in the market. Light-emitting diode drivers industry is categorized on the basis of product type, device configuration, technology, application, end user, and geography.

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On the basis of product type, the market is divided into LED Lamps and LED Fixtures. LED fixtures are predicted to lead the market of LED (light-emitting diode) driver due to its growing preference for features like better performance, maintenance savings, cost and energy efficient.

On the basis of device configuration, light-emitting diode driver market is classified into pinned LED, surface-mounted LED, chip on board LED, etc. Chip on board segment is expected to register significant growth in the years to come owing to its advantages over others. Based on technology, the industry is split into basic LED, Ultra Violet LED, Organic LED, high brightness LED, and polymer.

In terms of application, LED driver industry is divided into general lighting, automotive, signal & signage, backlighting, etc. Due to the growing number of automobiles and increase in population, automotive segment is predicted to lead the market growth of LED (light-emitting diode) driver.

Based on end user, LED drivers market is divided into architectural, commercial, industrial, residential, outdoor, and others. Commercial segment is predicted to hold larger market share of LED (light-emitting diode) driver due to rising development and infrastructure in the emerging economies.

Geographically, LED (light-emitting diode) driver industry is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to dominate the market of LED (light-emitting diode) driver due to growing demand for efficient lighting settings and decrease in selling price that is boosting the lighting industry.

The leading players in LED drivers industry comprise Atmel Corporation, AC Electronics, General Electric Company, Cree, Inc., Koninklijke Philips N.V., Lutron Electronics Co., Macroblock Inc., STMicroelectronics N.V., NXP Semiconductor N.V., Harvard Technology Ltd., Maxim Integrated Products, Inc., On Semiconductor Corporation, Osram GmbH, and ROHM Semiconductors.

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Market Segment:

LED Drivers Supply Type Outlook (USD Million, Million Units, 2014 – 2024)

• Constant voltage
• Constant current

LED Driver Application Outlook (USD Million, Million Units, 2014 – 2024)

• Automotive
• Consumer electronics
• Outdoor lighting
• Signage
• Others

LED Driver End-Use Outlook (USD Million, Million Units, 2014 – 2024)

• Industrial
• Commercial
• Residential

LED Driver Regional Outlook (USD Million, Million Units, 2014 – 2024)

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France

Asia Pacific

• India
• China
• Japan
• Korea

Latin America

• Brazil
• Mexico

Middle East & Africa

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