LED Driver Market Revenue To Upswing To USD 64.13 Bn By 2028

As per study of Zion Market Research, LED Driver industry gained revenue worth nearly US$ 12.31 billion in 2021 and is anticipated to accrue returns about US$ 64.13 billion by 2028. In addition to this, LED Driver market is prognosis to record CAGR of almost 26.1% in 2022-2028. Apparently, growth of LED driver market over forecasting timeline is subject to rise in need of energy-efficient LED systems and use of Internet Of Things (IoT) tools in smart city projects. Furthermore, use of standard guidelines for lighting control will expand scope of market in upcoming years. A large number of cities have installed smart street lights embedded with sensors and this has proliferated elevation in size of LED driver market. Humungous use of LED drivers in residential, industrial, and commercial sectors will extend growth horizons of LED driver industry. Reportedly, rise in construction activities has culminated into high need for LED drivers, thereby steering LED driver market trends.

Wireless Control Feature Segment To Register Expedited Growth Over 2022-2028

Massive ascent of wireless control feature segment over next six years can be due to remote controlling feature of wireless through use of smartphones. Citing an instance, Zigbee is an open standard for wireless systems making use of digital radio signal for lighting as well as other building automation.

Asia Pacific To Contribute Substantially Towards Regional Market Growth By 2028

Regional market expansion in next six years can be credited to rise in subsidies provided to consumers along with rise in production units in countries such as India and China. In addition to this, rise in use of LED lighting in Asian countries will prop up expansion of LED driver in Asia Pacific zone. Citing an instance, in 2015, GOI introduced “UJALA Scheme” and as per this scheme the Indian government offered over 300 million LED bulbs to people.

Some of key players impacting growth of LED driver market and profiled in study are Cree, Inc., General Electric Company, Harvard Engineering, Osram GmbH, Rohm Semiconductors, Maxim Integrated, Inc., Texas Instruments, Inc., Macroblock, Inc., and Atmel Corp.

Browse the full “LED Driver Market- By Product Type (Constant Current & AC LED and Constant Voltage), By Control Feature (Wired and Wireless), By Channel Count (Single, Dual, and Three & Above), and By End-User (Residential, Office, Retail & Hospitality, Outdoor, Healthcare & Educational Institutions, and Industrial): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2022–2028.” Report at https://www.zionmarketresearch.com/report/led-driver-market

The global LED Driver Market is segmented as follows:

By Product Type

• Constant Current & AC LED
• Constant Voltage

By Control Feature

• Wired
• Wireless

By Channel Count

• Single
• Dual
• Three & Above

By End-User

• Residential
• Office
• Retail & Hospitality
• Outdoor
• Healthcare & Educational Institutions
• Industrial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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