LED Driver Market Analysis

Driver Type (Constant Voltage, Constant Current)

The constant current driver type is anticipated to hold the largest share of 60% by the end of 2037. The growing utilization of constant current drivers in industrial LED lighting applications is expected to propel the segment’s growth. Varying voltage is supplied to the light to maintain a constant current by these current drivers. These designs make the LED just need a fixed current and to withstand a range of voltages. Hence, the rise in the demand for constant current drivers for LED downlights or high-powered LEDs as they can control the electrical current is anticipated to lead the market growth.

End-User (Residential, Commercial, Industrial)

The commercial segment is estimated to garner the highest revenue share of 45% by the end of 2037. The high efficiency, extended lifespans, lower energy consumption, and directional nature of LEDs make them ideal for commercial uses. As per research, 50% of commercial buildings in the U.S. use lighting control. Moreover, the rising use of LEDs in parking garage lighting, walkway, street lights, and other outdoor area lighting is anticipated to boost the segment’s growth.

Our in-depth analysis of the global market includes the following segments:

Driver Type	Constant Voltage Constant Current
Luminaire Type	Decorative Lamps Type A Lamp Reflectors, Others
Component	Driver IC Discrete Component
Control Feature	Wired Wireless
Application	General Lighting Electronic Devices Automotive Lighting Lighting Outdoor Display
End-User	Residential Commercial Industrial

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of LED driver is evaluated at USD 13.42 billion.

The LED driver market size was over USD 11.53 billion in 2024 and is anticipated to exceed USD 130.97 billion by the end of 2037, witnessing over 20.3% CAGR during the forecast period i.e., between 2025-2037. The increasing elimination of fluorescent lighting and the growing adoption of LEDs as the main lighting technology will boost the market growth.

North America industry is estimated to hold 22% of the revenue share by 2037, backed by expanding urbanization and rising development of smart infrastructures in smart cities.

The major players in the market include Inventronics Inc., Signify Netherlands B.V., Smart Global Holdings, Inc., Microchip Technology Inc., Lutron Electronics Co., Ltd, Samsung Electronics Co., Ltd., Macroblock, Inc, NXP Semiconductors, N.V., Semiconductor Components Industries, LLC, ams OSRAM, Rohm Co., Ltd.

LED Driver Market Analysis