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LED Lighting Drivers Market – Snapshot

A light-emitting diode (LED) is a low-energy lighting device with a longer lifespan. It consumes less power than an incandescent light. An LED requires a specialized power supply, which is provided to it with the help of LED lighting drivers. An LED lighting driver is an electronic device employed to provide regulated power supply to the LED or an array of LEDs under operation. The driver protects the LED from premature failure by regulating the current/voltage provided to it. Thus, LED drivers ensure smooth functioning of LEDs by supplying a constant amount of power to them. The global LED lighting drivers market is projected to expand at a CAGR of 18.0% during the forecast period and reach value of US$ 29,313.6 Mn by 2027. 

global led lighting driver market

The LED lighting drivers market is driven by increased penetration of LED lighting products. LED lighting systems are gaining popularity due to their energy efficiency and cost saving. Moreover, government initiatives for increasing awareness about using energy-efficient and cost-saving lighting systems are anticipated to boost the LED lighting drivers market during the forecast period. However, one of the key factors hampering the LED lighting drivers market is high initial setup cost. It is likely to be a restraint of the market in several developing countries in the short run. On the other hand, increasing use of miniaturized LED lighting drivers is one of the major opportunities for the LED lighting drivers market. Driver miniaturization is projected to create new opportunities for manufacturers operating in the market in the near future. 

High initial setup costs is a major restraint of the market for LED lighting drivers, as the current pricing of these drivers is largely dependent on volume of the product, maturity of the market, and penetration of the product into the market. Also, in emerging markets, such as Asia Pacific, the cost of installation of LED lighting drivers is high. This is a time-bound restraint, as the market in the region is currently undergoing a developing phase. This is because, currently, the cost of LED drivers is on a higher side and it is expected to decline with advancements in the technology of LED drivers. These factors are hindering the rate of adoption of LED lighting drivers across various industries. However, certain standardization in the pricing of LED drivers is likely to occur in the long term. Localization of manufacturing facilities is also expected to contribute to standardizing of the product price in the near future. 

Key players operating in the global LED lighting drivers market include Mean Well Enterprises Co. Ltd., Cree, Inc., Inventronics Inc., Tridonic GmbH & Co KG, Signify Holding, Delta Electronics, Inc., Osram GmbH, and Harvard Technology Ltd. These established players are engaged in the development of innovative LED lighting drivers and their introduction in the market. For instance, in March 2018, Philips Lighting announced the launch of a new IoT platform called ‘Interact’. This platform would enable customers to unlock the potential of connected lighting for the IoT. The move would help the company better position itself in the global LED lighting drivers market.

LED Lighting Drivers Market – Overview

The ‘LED Lighting Drivers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027,’ report provides analysis of the global LED lighting drivers market for the period from 2017 to 2027, wherein 2019–2027 is the forecast period and 2018 is the base year. Data for 2017 has been included as historical information. The report covers all trends and technologies expected to play a major role in growth of the global LED lighting drivers market during the forecast period. It highlights drivers, restraints, and opportunities expected to influence the market from 2019 to 2027. The study provides a holistic perspective on the LED lighting drivers market, in terms of revenue (in US$ Mn) and volume (in million units), across different regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report highlights key trends affecting the LED lighting drivers market at the global level. Prominent countries/sub-regions covered in the report include the U.S., Canada, Germany, France, the U.K., Italy, Russia, India, China, Japan, South Korea, South East Asia, GCC, South Africa, and Brazil.

This report analyzes and forecasts the market for LED lighting drivers at the global and regional levels. The market has been forecast in terms of revenue (in US$ Mn) and volume (in million units) from 2019 to 2027. The study includes drivers and restraints of the global market. It also covers the anticipated impact of these drivers and restraints during the forecast period.

The report comprises detailed ecosystem analysis, which provides a comprehensive view of the global LED lighting drivers market. Porter’s five forces model has also been included to help understand the competition landscape of the market. Additionally, current indicators of diverse macro-economic factors are contextualized under key market indicators.

Global LED Lighting Drivers Market: Taxonomy

This research study of the global LED lighting drivers market provides detailed analysis based on driving method, dimming method, driver type, technology, and application segments

Global LED Lighting Drivers Market: Research Methodology

Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases, market reports, news articles, press releases, webcasts specific to companies operating in the market, national government documents, statistical databases, and Factiva.

Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews conducted for each market segment across geographies. TMR conducts primary interviews on an ongoing basis with market participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competition landscape, and market outlook. These help validate and strengthen secondary research findings. They also help develop the analysis team’s expertise and market understanding.

Global LED Lighting Drivers Market: Competition Dynamics

The report covers major players operating in the global LED lighting drivers market including Mean Well Enterprises Co. Ltd., Cree, Inc., Inventronics Inc., Tridonic GmbH & Co KG, Signify Holding, Delta Electronics, Inc., Osram GmbH, and Harvard Technology Ltd. These established players are engaged in the development of innovative LED lighting drivers and their introduction in the market. For instance, in March 2018, Philips Lighting announced a new Internet of Things (IoT) platform called ‘Interact’. This platform would enable customers to unlock the potential of connected lighting for the IoT. This move would help the company better position itself in the global LED lighting drivers market.

The global LED lighting drivers market has been segmented as follows:

Driving Method

  • Constant Voltage
  • Constant Current

Dimming Method

  • Non-dimmable
  • Dimmable
    • DALI
    • 1-10V
    • TRIAC
    • Trailing Edge
    • Others

Driver Type

  • External
  • Internal

Technology

  • Smart
  • Conventional

Application

  • Residential Lighting
  • Office Lighting
  • Commercial Lighting
  • Industrial Lighting
  • City Lighting
  • Automotive Lighting
  • Sports Facilities Lighting
  • Entertainment Lighting
  • Horticulture Lighting
  • Others

Geography

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • India
    • Japan
    • Chinas
    • Korea
    • Southeast Asia
    • Rest of APAC
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America

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Led Lighting Driver Market

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