According to a new market report published by Lucintel, the future of the LED driver market looks attractive with opportunities in the residential, commercial, industrial, and automotive lighting sectors. The LED driver market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $18 billion by 2025 with a CAGR of 11% to 13% from 2020 to 2025. The major growth drivers for this market are increasing building and construction activities, favorable government regulations for energy efficiency, and increasing adoption of LED lighting in emerging countries.

Browse 98 market data tables and 113 figures spread through 183 pages and in-depth TOC on “LED Driver Market"

To download report brochure, please go to https://www.lucintel.com/global-led-driver-market-2019.aspx and click "report brochure" tab from the menu.

In this market, constant current and constant voltage LED drivers are used to regulate the power supply in general lighting, backlighting, and automotive lighting applications. Lucintel forecast that constant current LED driver will remain the largest product type; it is also expected to witness the highest growth due to ability to provide consistent brightness with lower power consumption and increasing demand in LED backlighting and general lighting applications.

Within the LED driver market, the general lighting segment will remain the largest application. It is also expected to witness the highest growth rate due to increasing demand for energy-efficient products in residential and commercial lighting, increasing usage of LED drivers for building and lighting management systems, and the decreasing price of LEDs.

Asia Pacific is expected to remain the largest region, and it is also expected to witness the highest growth over the forecast period due to increasing penetration of LED lighting in the automotive and building & construction industries. Production and consumption of LED lighting in China is highest, and modernization of infrastructure is expected to propel the demand for lighting products in China.

Emerging trends, which have a direct impact on the dynamics of the industry, include the development of visible light communication (VLC) LED drivers, and the development of color tunable LED drivers. Texas Instruments, Toshiba, STMicroelectronics, ON Semiconductor, and ROHM Semiconductor are among the major suppliers of the LED driver.

Lucintel, the leading global strategic consulting and market research firm, has analyzed growth opportunities in the LED driver market by supply type, luminaire type, application, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the LED Driver Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the LED driver market by supply type, luminaire type, application, and region as follows:

By Application [$M shipment analysis from 2014 to 2025]:

General lightingResidentialOfficeShopHospitalityOutdoorIndustrialArchitecturalAutomotive LightingHeadlampsDaytime Running Lights (DRLs)SidelightsRear LightsInteriorBacklightingLCD TVMonitorPortable PCsHandhelds
By Supply Type [$M shipment analysis from 2014 to 2025]:

Constant CurrentConstant Voltage
By Luminaire Type [$M shipment analysis from 2014 to 2025]:

Type A LampDecorative LampT LampReflectorsOthers
By Region [$M shipment analysis from 2014 – 2025]:

North AmericaUnited StatesCanadaMexicoEuropeUnited KingdomGermanyFranceSwitzerlandAsia PacificChinaJapanIndiaThe Rest of the World
This 183-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/global-led-driver-market-2019.aspx or [email protected].

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.