LED Driver Market is Set for a Rapid Growth and is Expected to Reach USD 60.36 Billion by 2026

Zion Market Research has published a new report titled “LED Driver Market by Driving Method (Constant Current and Constant Voltage), Luminaire Type (A-Type Lamps, T-Lamps, and Others), End-Users (Residential, Industrial, Commercial, and Other): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2026.” According to the report, the LED Driver Market accounted for USD 11.97 Billion in 2019 and is expected to reach USD 60.36 Billion by 2026, growing at a CAGR of around 26% between 2020 and 2026.

Browse the full “LED Driver Market by Driving Method (Constant Current and Constant Voltage), Luminaire Type (A-Type Lamps, T-Lamps, and Others) for Residential, Industrial, Commercial, and Other End-Users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2026” report at https://www.zionmarketresearch.com/report/led-driver-market

Rising demand of LED in lighting applications such as office complexes, retail outlets, and street lights set to bolster the led driver market 

Global LED driver market is expected to see significant development over the years to come due to increasing requirement for LED lighting by households, as per analysts at Zion Market research. The transition to UV LED from UV lamp is the newest trend in LED driver market. Rising demand of LED in lighting applications such as office complexes, retail outlets, and street lights is set to bolster the LED driver market. IN addition to this, rapidly increasing usage within the households in residential lighting applications for is one of the major boosters for the development of the LED driver market. On the other hand, the biggest hurdle for LED tech is to recognize the gap between benefit and cost by the consumer. 

Growing acquisitions and mergers by market players is also one of the major factors that are boosting the development of LED driver market. For instance, in 2018, Fulham Company Group (which is a top provider of electronics and lighting components) purchased some assets of the Lumotech’s LED Driver business so as to supply LED drivers to OEMs and distributors in Europe, boosting the LED driver market. 

Economic Development in up-and-coming nations to suffice the development of led driver market in Asia Pacific 
Commercial and residential application of LED lighting is powering the growth of LED drivers market. Residential division added up for almost 40% of the LED driver market share in 2019. Outdoor applications such as street lighting, roadway lighting, and tunnel & highway lighting are some of the primary adopters of LED driver market. India has large user base for LED lighting goods and a number of consumers are assumed to augment substantially in the near future propelling the LED driver market.

Asia Pacific is likely to develop at the highest development rate for the LED driver market in the years to come. Economic development in up-and-coming nations such as China and India result in high usage of LED lighting. Hence, rising demand of LED lighting drives the LED driver market. 

The key players in LED driver market are Osram GmbH, Texas Instruments, Inc., Maxim Integrated, Inc., Harvard Engineering, Macroblock, Inc., General Electric, Cree, Inc., and Rohm Semiconductors, and Atmel Corp., among others

The global LED driver market is segmented as follows:

By Driving Method 

• Constant current
• Constant Volume

By End User 

• Residential
• Commercial
• Others 

By Luminaire

• A-type lamps
• T-type Lamps
• Others

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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