How big is the LED Driver Market?

The LED Driver Market size is expected to reach USD 16.43 billion in 2024 and grow at a CAGR of 22.91% to reach USD 46.08 billion by 2029. Read More

What is the current LED Driver Market size?

In 2024, the LED Driver Market size is expected to reach USD 16.43 billion. Read More

Who are the key players in LED Driver Market?

Signify Holding, Lutron Electronics Co., Hubbell Inc., Eaton Corporation PLC and Crestron Electronics Inc. are the major companies operating in the LED Driver Market. Read More

Which is the fastest growing region in LED Driver Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in LED Driver Market?

In 2024, the Asia Pacific accounts for the largest market share in LED Driver Market. Read More

What years does this LED Driver Market cover, and what was the market size in 2023?

In 2023, the LED Driver Market size was estimated at USD 13.37 billion. The report covers the LED Driver Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the LED Driver Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

LED Driver Market - Forecast, Size & Analysis

LED Driver Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global LED Drivers Market Trends & Share. The market is segmented by Product Type (Constant Current and AC LED, Constant Voltage), by Control Feature (Wired, Wireless), by Channel Count (Single, Dual, Three and Above), by End User (Residential, Office, Retail and Hospitality, Outdoor, Healthcare and Educational Institutions, Industrial), and by Geography. The market size and forecasts are provided in terms of value (USD million) for all the above segments.

LED Driver Industry Overview

The Global LED Driver Market is very competitive. The market is highly concentrated due to various small and large players. Some of the significant players in the market are Signify Holding, Lutron Electronics Co. Inc, Hubbell Incorporated, Eaton Corporation Plc, Acuity Brands Lighting Inc., Crestron Electronics Inc., ERP Power LLC, MEAN WELL Enterprises Co. Ltd, Cree Inc, AC Electronics (ACE), Osram GmbH, and many more. The companies are increasing the market share by forming multiple partnerships and investing in introducing new products to earn a competitive edge during the forecast period.

In March 2022, Signify Holdings and Perfect Plants will expand their collaboration on cannabis on grow lights. As an LED driver is the brain of an LED lighting system, Signify supplies flexible GreenPower LED systems. Two new climate cells are equipped with dimmable Philips GreenPower LED toplighting compact grow lights and the Philips GrowWise Control System, providing a light system that can be used effectively and efficiently in every growth phase.

In February 2022, the commercial and industrial (C&I) lighting division of Hubbell Incorporated was fully acquired by GE Current, a Daintree company, resulting in the development of a world-class end-to-end lighting solutions firm.