Global Lighting LED Driver Market to Reach $44.4 Billion by 2026

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Editing: 8; Published: February 2022
Executive Pool: 4772
Companies: 64 – Players covered include AC Electronics; Atmel Corporation; Cree, Inc.; General electricity company; Koninklijke Philips NV; Macrobloc, Inc; Maxim Integrated Products, Inc.; ON Semiconductor Corporation; OSRAM GmbH; Rohm semiconductors; Texas Instruments, Inc. and others.
Cover: All major geographies and key segments
segments: Type of luminaire (type A lamps, T-lamps, integrated LED modules and other types of luminaires); Driving method (constant current LED driver and constant voltage LED driver); End use (commercial lighting, industrial lighting, residential lighting, outdoor and traffic lighting and other end uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.

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ABSTRACT-

Global LED driver for lighting market to reach $44.4 billion by 2026

LED light drivers are electronic devices that play an important role in providing a regulated, constant, and reliable power supply to LED lamps to ensure smooth operation and prevent premature LED failure. LED light drivers control the LEDs and allow users to dim them as needed. These devices offer various advantages for LEDs with reduced footprint, reliable operation and improved efficiency on the dimming curve. Amid COVID-19 crisis, Global Lighting LED Driver Market Estimated at US$20.9 billion in 2022, is expected to reach a revised size of US$44.4 billion by 2026, registering a compound annual growth rate (CAGR) of 21.6% over the analysis period. Europe represents the largest regional market for LED Driver for Lighting, and is expected to reach US$12.2 billion by 2026. China is expected to spearhead the growth and become the fastest growing regional market with a CAGR of 25.7% over the analysis period.

Global growth is expected to be fueled by the increasing adoption of LED lighting for its high energy efficiency and associated cost savings. The global demand for LED lighting drivers is fueled by the replacement of traditional light sources such as incandescent lamps and CFLs with LEDs, coupled with government initiatives to increase awareness of the use of lighting systems. energy efficient and economical lighting. Product innovations and technological advancements aimed at improving the efficiency of lighting systems as well as the increasing use of LED lights in various applications such as automotive, outdoor, horticulture and industry are poised to further stimulate the market. Additionally, growing demand for LED lighting in general lighting applications, integration of lighting systems and IoT, and implementation of standard protocols related to lighting control are propelling the market LED drivers. Increasing investment in advertising is expected to significantly boost the adoption of digital signage and create the need for LED drivers. Another factor that has positive implications for the LED driver market is smart city projects in various countries to develop sustainable and technologically advanced spaces. These initiatives are expected to drive the demand for IoT-based smart LED lighting solutions. Rapid penetration is predicted for smart LED lighting in residential indoor lighting, security lighting, commercial lighting, public space lighting, energy efficient lighting in commercial and residential spaces, l centric lighting in offices, homes and healthcare facilities, and horticultural lighting, among others, in the coming years.

Europe and the United States is set to see growing adoption of LED lighting as regions embark on the much-needed energy efficiency drive, aided by a slew of energy-saving regulations. Also, tax incentives, clean energy alternatives, and energy subsidies are the few other factors that drive these countries to adopt LED lighting, which in turn drives the demand for LED drivers for lighting. Growth in the Asia Pacific region is attributed to technological advancements, falling LED prices, economic development, government policies and rapid urbanization in developing countries like China, India and Japan. The constant current type market is expected to dominate the market share over the analysis period, driven by features such as increased control, clear display and uniform brightness. Constant current LED drivers are designed for LEDs that require a fixed output current and a range of output voltages. Applications requiring the daisy chaining of multiple LED fixtures use constant current LED drivers. With the ability to maintain a more consistent level of brightness across all LED series, the constant current driver is the most ideal method of driving high power LEDs. Precise current control allows for more accurate projection of failure rates. After

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