LED Driver Market Demand and Revenue Analysis Report By 2025

Felton, California , USA, Jan 08, 2021 — /EPR Network/ — The global LED driver market size is projected to reach USD 11.31 billion by 2025 and projected to grow with a CAGR of 16.3% from 2019 to 2025. In the last decade, LED technology emerged as an energy-efficient substitute to conventional light sources which is driving their demand extensively in display and lighting segments across various industries. Traditional lighting products are replaced by LED lighting owing to their several benefits such as higher energy-efficiency, lower heat output, longer life, directionality and miniaturization.

Growing demand for IoT-based connected lighting solutions owing to the increasing number of smart homes in developed countries is expected to witness positive impact on market growth. In addition, governments of various countries are investing in smart city projects to improve energy-efficiency which is expected to fuel the demand for LED drivers. Constant LED driver has seen high growth from 2015 to 2018 due to its wide application for outdoor lighting along with high brightness.

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Impact of COVID-19

The LED lighting industry has been affected by corona virus epidemic, as supplies of components including LED drivers are has gone down as most of the operations are resumed in China. However, the demand for UV LED is increasing which helps to sterilize bacteria. In order to avoid infection of COVID-19, consumers’ awareness of sanitization and disinfection is increasing. Thus, the COVID-19 pandemic is expected to drive more opportunities for the market growth including social distance controlling infrared sensors, germicidal UVC LEDs, and horticulture lighting for food supply. Many countries that depend on food import are suffering from food shortage due to lockdown and travel restriction. During lockdown, horticulture LED lighting is gaining traction as it allows people to grow their own crops at home and helps to enhance food security. Several benefits of LED lighting in pandemic situations are expected to drive the market growth.

The consumer electronics application segment is expected to dominate the market due to high demand for LED drivers in display panels and televisions. Several leading industry players are focusing to collaborate with other companies to offer public lighting systems across the globe with remote management for efficient maintenance and energy saving. For example, Philips Lighting N.V. collaborated with Vodafone Limited to install smart street lighting integrated with IoT based technology globally.

The demand for highly reliable and energy-efficient with lower cost and smaller system package for application in low to the mid-power range is increasing. Thus, to meet this demand, light-emitting diode driver market players are Power-Factor Correction (PFC) circuitry for higher power quality and Primary-Side Regulation (PSR) to minimize the costs.

Further key findings from the report suggest:

• The constant current segment is projected to grow with the higher CAGR of more than 16% over the forecast period. For general lighting application, constant current offers better reliability.
• The lighting application segment is projected to exhibit with maximum CAGR of more than 18% from 2019 to 2025.
• Consumer electronics segment is projected to hold largest market share by 2025.
• In 2019, Asia Pacific dominated the market and expected to retain its position throughout the forecast period due to strict regulations for efficient lighting solutions.

Global LED Driver Market: Key Players

Koninklijke Philips N.V.; NXP Semiconductors N.V.; Atmel Corp.; AC Electronics; General Electric Company; Macroblock, Inc.; Lutron Electronics Co., Inc.; ROHM Semiconductors; Cree, Inc.; On Semiconductor Corp.; Harvard Technology Ltd.; Maxim Integrated Products, Inc.; Osram GmbH; Texas Instruments, Inc.; and STMicroelectronics.

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