LED Driver Market Size

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. In the year 2025, the industry size of LED driver is evaluated at USD 13.42 billion. LEDs are becoming the main lighting technology with more than 50% of the global lighting market using LED technology. This is anticipated to propel the market growth of LED drivers. LEDs need a continuous direct current of 12v or 24v, which is lower than the voltage that the main power supplies throughout. Hence, all LED lights need an LED driver to convert the power supply into a more suitable one with a lower risk of fire and burnout.

The increasing demand for electronics and the rising use of LEDs in TV backlighting, smartphone backlighting, LED displays, automotive lighting, programmable LED lighting, and the rising technological advancement in lighting components is slated to propel the market. With improved performance, there are numerous growth opportunities for the market.