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 reach an estimated $18.3 billion by 2024 with a CAGR of 15% from 2019 to 2024. 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.
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 2019-2024: 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 2013 to 2024]:
• General lighting
– Residential
– Office
– Shop
– Hospitality
– Outdoor
– Industrial
– Architectural
• Automotive Lighting
– Headlamps
– Daytime Running Lights (DRLs)
– Sidelights
– Rear Lights
– Interior
• Backlighting
– LCD TV
– Monitor
– Portable PCs
– Handhelds

By Supply Type [$M shipment analysis from 2013 to 2024]:
• Constant Current
• Constant Voltage
By Luminaire Type [$M shipment analysis from 2013 to 2024]:
• Type A Lamp
• Decorative Lamp
• T Lamp
• Reflectors
• Others
By Region [$M shipment analysis from 2013 – 2024]:
• North America
– United States
– Canada
– Mexico
• Europe
– United Kingdom
– Germany
– France
– Switzerland
• Asia Pacific
– China
– Japan
– India
• The 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…… 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.
This report answers following 11 key questions:

Q.1 What are some of the most promising, high-growth opportunities for the LED driver market by supply type (constant current and constant voltage), by luminaire type (type A lamp, decorative lamp, T lamp, reflectors, and others), by applications (general lighting, automotive lighting and backlighting) and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?