The LED driver market is valued at USD 5200.2 million in 2020, and is expected to reach USD 24,152.3 million in 2026, registering a CAGR of 29.28% during the forecast period (2021 - 2026). LED drivers have become the bottleneck of LED lighting, both in terms of size and reliability. They provide fundamental advantages for LED lighting with smaller form factors, higher reliability, and improved efficiency over the dimming curve. The increasing energy-efficient policies by the federal government and councils across the countries have deliberately motivated the investments in energy-efficient practices and technologies. The display devices, such as smartphones, tablets, laptops, and television, have widely adopted LED backlighting systems due to their low power consumption, and small and thin packing ability. Despite their wide adoption, the manufacturers are continuing to invest in backlighting systems to enhance the user experience.

- nThe global demand for LED lighting solutions is growing at a fast pace, and with the advent of smart LED solutions, the adoption rate of the LED is expected to increase further. According to the IEA, in 2019, the global LED sales reached over 10 billion units, including both light sources and luminaires, and expects that the LEDs are expected to make up over 90% of sales by 2030.
- The increasing penetration of LEDs, due to their energy-efficient and cost-saving nature, is impacting the growth of the market, as the LEDs are highly controllable when integrated with a driver and their intensity can be varied based on the requirement.
- The residential market demand for the solutions is significant; according to the US Energy Department, there were at least 500 million recessed downlights installed in the US homes, and over 20 million are sold each year. Owing to this, the demand for drivers from the segment are expected to increase significantly over the coming years.
- Aditionally, in recent years, the increasing industrial development and population growth led to a surge in global demand for energy. The decreasing amount of resources and increasing demand for energy led to the energy crisis in the world. To overcome this crisis, governments of various countries have passed regulations on energy consumption, which state the use of energy-saving consumer electronics.

Key Market Trends

Increasing demand for Energy-efficient Lighting Systems and Government Regulations

- With the growing push from governments across the regions to adopt energy efficient solutions, LEDs are increasingly becoming vital part of the government's plans. For instance, in the US, the DOE has set up SSL Path to save energy. According to the US DOE's data, from 2017 to 2035, a total cumulative energy savings of 78 quads is possible, if the DOE SSL Program Goals for LED efficacy and connected lighting are achieved equivalent to approximately USD 890 billion in avoided energy costs.
- The adoption of LED solutions is increasing due to the stringent regulations but the consumer awareness pertaining to the benefits of LEDs is significantly lower, but increasing significantly. Meanwhile, the consumers are expected to avoid spending on new lighting solutions on the basis of benefits.
- In addition to this, the LED lighting solution's prices are expected to go up due to various economical and geopolitical reasons. For instance, the recent volatile economic conditions posed by the trade frictions between the US and China led to fluctuations in the LED lighting market, as China is one of the major exporters of LED solutions to the country. According to Brandon Lighting Factory, during the first half of 2019, China's total export of the US LED lighting products amounted to USD 1.826 billion, which was 26.08% of China's total exports; compared with the same period during the previous year the exports decreased by 8.69% year-on-year.

Asia Pacific Region is Expected to Witness the Fastest Growth Rate

For sample report please visit: https://www.statzyreports.com/report/sr497271/led-driver-market


Asia-Pacific has seen significant growth in the LED driver market and is expected to witness the highest growth over the forecast period. The economic development and government policies, due to rapid urbanization in developing countries, such as India, China, and Japan, spurred the demand for LEDs in the region.

- The decline in LED prices due to an increase in investments by companies in expanding production facilities resulted in significant growth of the LED driver market in Asia-Pacific.
- The rapid urbanization and changing lifestyles of people have also resulted in an increase in the penetration of LED lighting in the automotive, building, and construction industries. The compatible size and aesthetic look have drawn the attention of people with high standards, which resulted in significant growth in the adoption of LED drivers.
- For instance, the Indian government launched the UJALA program, with a target to distribute 770 million LEDs by March 2019. The program aims to rectify India’s high-cost of electrification and the increased emissions from inefficient lighting, amid the backdrop of electricity demand witnessing a five-fold increase over the coming years.
- Government initiatives to promote energy conservation and efficiency are strengthening the growth of the market. Various energy-efficiency projects are being taken up in the country, which can decrease greenhouse gas emissions and thermal pollution.
- Notably, in China, it is expected to witness significant growth in the demand for LED Drivers over the forecast period due to the rise in demand for commercial launches, owing to an increased demand for LED lighting solutions from the commercial as well as industrial sectors.

Competitive Landscape

The LED driver market is fragmented in nature. It is a highly competitive market with the presence of several players in the market. The market many dominant players.

For instance, in Feb 2020, Acuity eldoLED LED driver business unit announced the first driver products to receive Digital Illumination Interface Alliance (DiiA) certification to DALI (Digital Addressable Lighting Interface)-2 Tc, with Tc referring to white-point color temperature control along the black-body line. Such drivers will generally be multi-channel products, yet a single DALI address and command stream will control two or more driver outputs.

August 2020- Mean Well Enterprises Co. Ltd launched programable output drivers, with high-power efficiency and broad dimmer compatibility. The new PTB Series drivers are scheduled to be available from ERP Power distributors in Q3 2020 from Arrow, DigiKey, Future, Mouser, and WPG in the Americas.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

For sample report please visit: https://www.statzyreports.com/report/sr497271/led-driver-market