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Acuity Brands Lighting Inc.
Cree, Inc.
Eaton Corporation Plc
Harvard Engineering
Hubbell Incorporated
Lutron Electronics Co. Inc.
Macroblock, Inc.
MEAN WELL Enterprises Co. Ltd
Osram GmbH
Signify Holding
Texas Instruments
Tridonic GmbH & Co. KG
US LED
ERP Power LLC
Delta Electronics, Inc.
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Global LED Driver Market is estimated to be valued at USD 20.86 Bn in 2025 and is expected to reach USD 85.90 Bn by 2032, growing at a compound annual growth rate (CAGR) of 22.4% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 20.86 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
22.40%
2032 Value Projection:
USD 85.90 Bn
Figure. LED Driver Market Share (%), By Region 2025
The global LED driver market has been witnessing significant growth over the past few years owing to factors such as rising demand for energy-efficient lighting solutions, government policies and initiatives toward LED adoption, increasing acceptance of smart lighting systems, and technological advancements in LED lighting. LED lights are becoming extremely popular across various industries as they consume less power and have a longer operational life as compared to traditional incandescent and CFL lights.
Market Dynamics:
The global LED driver market growth is primarily driven by growing adoption of LED lighting owing to various benefits such as high energy efficiency, long lifespan, compact size, and environmental friendliness. Government policies and initiatives in various countries promoting the use of LED lights to reduce energy consumption are also fueling market growth. For instance, governments are implementing programs offering subsidies and tax rebates on purchase of LED lights. Moreover, increasing acceptance of smart and connected lighting systems integrated with sensors and wireless technologies is augmenting the demand for advanced LED drivers. On the other hand, availability of cheap imitation products and high total installation cost of LED lights are some of the factors hindering the wider adoption of these lights. However, ongoing technological advancements leading to higher luminous efficiency, luminous flux, and better dimming solutions are expected to create new opportunities for LED driver manufacturers over the coming years.
Key features of the study:
This report provides in-depth analysis of the global LED driver market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global LED driver market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Acuity Brands Lighting Inc., Cree, Inc., Eaton Corporation Plc, Harvard Engineering, Hubbell Incorporated, Lutron Electronics Co. Inc., Macroblock, Inc., MEAN WELL Enterprises Co. Ltd, Osram GmbH, Signify Holding, Texas Instruments, Tridonic GmbH & Co. KG, U.S. LED, ERP Power LLC, and Delta Electronics, Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global LED driver market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global LED driver market.
Detailed Segmentation:
By Component
Driver IC
Discrete Component
Others
By Supply Type
Constant Current
Constant Voltage
By Application
Consumer Electronics
Lighting
Automotive
Outdoor Displays
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Players Insights
Acuity Brands Lighting Inc.
Cree, Inc.
Eaton Corporation Plc
Harvard Engineering
Hubbell Incorporated
Lutron Electronics Co. Inc.
Macroblock, Inc.
MEAN WELL Enterprises Co. Ltd
Osram GmbH
Signify Holding
Texas Instruments
Tridonic GmbH & Co. KG
U.S. LED
ERP Power LLC
Delta Electronics, Inc.
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Component
Market Snippet, By Supply Type
Market Snippet, By Application
Market Snippet, By Region
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic
4. Global Led Driver Market, By Component, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021-2032
Segment Trends
Driver IC
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Discrete Component
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Others
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
5. Global Led Driver Market, By Supply Type, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021-2032
Segment Trends
Constant Current
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Constant Voltage
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
6. Global Led Driver Market, By Application, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021-2032
Segment Trends
Consumer Electronics
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Lighting
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Automotive
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
Outdoor Displays
Introduction
Market Size and Forecast, 2020-2032, (US$ Bn)
7. Global Led Driver Market, By Region, 2020-2032, (US$ Bn)
Introduction
Market Share Analysis, By Region, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021-2032
North America
Regional Trends
Market Size and Forecast, By Component, 2020-2032, (US$ Bn)
Market Size and Forecast, By Supply Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Application, 2020-2032, (US$ Bn)
Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
U.S.
Canada
Europe
Regional Trends
Market Size and Forecast, By Component, 2020-2032, (US$ Bn)
Market Size and Forecast, By Supply Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Application, 2020-2032, (US$ Bn)
Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
Regional Trends
Market Size and Forecast, By Component, 2020-2032, (US$ Bn)
Market Size and Forecast, By Supply Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Application, 2020-2032, (US$ Bn)
Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Latin America
Regional Trends
Market Size and Forecast, By Component, 2020-2032, (US$ Bn)
Market Size and Forecast, By Supply Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Application, 2020-2032, (US$ Bn)
Market Size and Forecast, By Country, 2020-2032, (US$ Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
Regional Trends
Market Size and Forecast, By Component, 2020-2032, (US$ Bn)
Market Size and Forecast, By Supply Type, 2020-2032, (US$ Bn)
Market Size and Forecast, By Application, 2020-2032, (US$ Bn)
Market Size and Forecast, By Country, 2020-2032, (US$ Bn)