LED Driver Market Trends

Growth Drivers

Increasing Investment in Smart-City Applications – the increasing number of smart cities and the replacement of aging infrastructure worldwide is bolstering the demand for LED drivers with most streets and outdoor areas being upgraded to light-emitting diode (LED) lighting. For instance, as per forecasts, the majority of outdoor streetlights globally are expected to be converted to LED lamps by 2030. With around 300 million streetlights worldwide, most of the work is still ahead to upgrade aging infrastructure.
Net Zero Emissions by 2050 Scenario – As per International Energy Agency’s (IEA) roadmap, transforming the global buildings sector and reducing global carbon emissions by implementing and enforcing regulations in the buildings sector to ensure the switch in the global lighting market to 100% LED by 2025 is anticipated to compel the adoption of LED lighting at a faster pace, which is expected to propel the market growth.

Challenges

Lack of Standardization: With a lack of proper standardization, interoperability issues arise and lead to compatibility issues. This is known to be a growth-hindering factor.
Possibility of Failures of LED Drivers prematurely
Slow Rate of Penetration in Underdeveloped Countries

LED Driver Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	20.3%
Base Year Market Size (2024)	USD 11.53 billion
Forecast Year Market Size (2037)	USD 130.97 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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 Trends