The global LED driver market size reached USD 14.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 57.2 Billion by 2033, exhibiting a growth rate (CAGR) of 16.01% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 14.1 Billion |
Market Forecast in 2033
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USD 57.2 Billion |
Market Growth Rate (2025-2033) | 16.01% |
A light-emitting diode (LED) driver is a self-contained electrical device incorporated in an LED circuit to provide constant current or voltage. Its components generally include a resistor, electrolytic capacitor, bridge rectifier, Zener diode, and polarized capacitor. It is compact, lightweight, cost-effective, energy-efficient, and easy to install and requires low maintenance. As a result, it is widely used in residential and commercial buildings for lighting and decorative purposes. It is also utilized in cars, bikes, and various other automobiles as an indicator around the world.
The escalating demand for LED lighting solutions on account of a significant rise in power consumption, increasing global population, changing climatic conditions, and improving lifestyles of individuals represents one of the key factors impelling the market growth. In addition, inadequate power generation that has led to higher electricity prices is facilitating the adoption of energy-efficient LED lighting solutions worldwide. This, along with the rapid expansion of smart city projects and initiatives undertaken by government of numerous countries to encourage the use of energy-efficient technologies and ban inefficient lighting solutions, is contributing to the market growth. Apart from this, the growing emphasis on relacing conventional bulbs with LEDs in modern vehicles for high luminous efficiency and increasing safety is catalyzing the demand for LED drivers across the globe. This can also be attributed to boosting sales of passenger vehicles worldwide on account of rapid urbanization and improving urban road infrastructure. Furthermore, the rising number of outdoor events, coupled with the emergence of digital-out-of-home (DOOH) advertising, is augmenting the use of LED modular displays. This, in confluence with the growing awareness about the importance of energy conservation, is creating a positive influence on the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global LED driver market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on component, luminaire type, supply type, and end user.
Breakup by Component:
Breakup by Luminaire Type:
Breakup by Supply Type:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AC Electronics, ams AG, Hatch Lighting, Lutron Electronics Co. Inc., Macroblock Inc., Maxim Integrated Products Inc. (Analog Devices Inc.), Microchip Technology Inc., NXP Semiconductors N.V., Rohm Co. Ltd., Semiconductor Components Industries LLC, Signify N.V., SMART Global Holdings Inc., and Texas Instruments Incorporated.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Component, Luminaire Type, Supply Type, End User, Region |
Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered | AC Electronics, ams AG, Hatch Lighting, Lutron Electronics Co. Inc., Macroblock Inc., Maxim Integrated Products Inc. (Analog Devices Inc.), Microchip Technology Inc., NXP Semiconductors N.V., Rohm Co. Ltd., Semiconductor Components Industries LLC, Signify N.V., SMART Global Holdings Inc., and Texas Instruments Incorporated. |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global LED driver market was valued at USD 14.1 Billion in 2024.
We expect the global LED driver market to exhibit a CAGR of 16.01% during 2025-2033.
The growing awareness towards the importance of energy conservation, along with the widespread usage of LED drivers in residential and commercial buildings for lighting and decorative purposes, is primarily driving the global LED driver market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units of LED drivers.
Based on the component, the global LED driver market has been segmented into driver IC, discrete components, and others. Currently, driver IC holds the majority of the total market share.
Based on the luminaire type, the global LED driver market can be divided into decorative lamps, reflectors, type A lamp, T lamp, integral LED modules, and others. Among these, type A lamp currently exhibits a clear dominance in the market.
Based on the supply type, the global LED driver market has been categorized into constant current and constant voltage. Currently, constant current accounts for the largest market share.
Based on the end user, the global LED driver market can be bifurcated into residential, commercial, and industrial. Among these, the residential sector currently holds majority of the global market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global LED driver market include AC Electronics, ams AG, Hatch Lighting, Lutron Electronics Co. Inc., Macroblock Inc., Maxim Integrated Products Inc. (Analog Devices Inc.), Microchip Technology Inc., NXP Semiconductors N.V., Rohm Co. Ltd., Semiconductor Components Industries LLC, Signify N.V., SMART Global Holdings Inc., and Texas Instruments Incorporated.