Lucintel Forecasts the Global LED Driver Market to Reach $44 Billion by 2030
Lucintel Forecasts the Global LED Driver Market to Reach $44 Billion by 2030
Blog Article
According to the recent study the global LED Driver Market is projected to reach an estimated $44 billion by 2030 from $15 billion in 2023 at a CAGR of 16% from 2023 to 2030. Growth in this market is primarily driven by increasing building and construction activities, favorable government regulation for energy efficiency, and increasing adoption of LED lightings in emerging countries.
Browse 113 figures/charts and 98 tables in this 183-page report to understand trends, opportunities and forecast in global LED driver market by supply type (constant current and constant voltage), luminaire type (type A lamp, decorative lamp, T lamp, reflectors and others), by applications (general lighting, automotive lighting and backlighting), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecast that constant current LED driver will remain the largest supply 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.
General lighting segment will remain the largest market; it is also expected to witness highest growth rate due to increasing demand for energy-efficient products in residential and commercial lighting, increasing usage of the LED driver for building and lighting management system, and decreasing price of LEDs.
Asia Pacific is expected to remain the largest region; it is also expected to witness highest growth over the forecast period due to increasing penetration of LED lighting in automotive and building & construction industry. Production and consumption of LED lighting in China is highest; modernization of infrastructure is expected to propel the demand for lighting products in China.
Texas Instruments, Toshiba Semiconductor, STMicroelectronics, ON Semiconductor, ROHM Semiconductor are the major suppliers in the LED driver market.
This unique 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 write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056