The LED Driver Global Market Report 2023, provides comprehensive information on the LED driver market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s LED Driver Global Market Report 2023, the global LED driver market size is expected to grow from $5.35 billion in 2022 to $6.67 billion in 2023 at a compound annual growth rate (CAGR) of 24.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global LED driver market size is expected to reach $14.96 billion in 2027 at a CAGR of 22.3%
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Product innovations are a key trend gaining popularity in the LED driver market. Major companies operating in the LED driver market are focused on developing new technological solutions to strengthen their position. For instance, in October 2020, Nexperia, a Netherlands-based manufacturer of semiconductors, launched “AEC-Q101,” an industry-first LED driver in a DFN package with side-wettable flanks. It features side-wettable flank technology, which enables automated optical inspection and improves reliability. The leadless driver is expected to save up to 90% of PCB space compared with leaded packages offering equivalent performance. The driver can handle greater board flexing without cracking and has greater resistance to shear force with side-wettable flanks. It is a discrete portfolio in DFN technology with a rugged, space-saving package.
The LED driver market is segmented:
1) By Supply Type: Constant Current, Constant Voltage
2) By Luminaire Type: Decorative Lamps, Integral LED Modules, Reflectors, T Lamps, Type A Lamp
3) By Application: Automotive, Consumer Electronics, Lighting Outdoor Displa
4) By End User: Residential Lighting, Outdoor and Traffic Lighting, Industrial Lighting, Commercial Lighting, Other End Users
Asia-Pacific was the largest region in the LED driver market in 2022.
The table of contents in TBRC’s LED driver market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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