Austin, Nov. 08, 2024 (GLOBE NEWSWIRE) — Market Size & Growth Analysis:
The S&S Insider report indicates that, “The LED Driver IC Market was valued at USD 3.79 Billion in 2023 and is projected to grow to USD 16.05 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.46% from 2024 to 2032.”
The LED Driver IC market has seen a notable increase in growth lately, driven by the rising need for energy-saving lighting options in residential, commercial, and industrial areas. One primary use of LED driver ICs is in the field of general lighting, covering a wide range of settings such as homes, offices, warehouses, and factories. Approximately 5.9 billion commercial buildings in the U.S. rely on different types of indoor lighting, where linear, low, and high bay fixtures use up to 91% of indoor lighting energy in commercial and industrial environments. Although LED technology has improved, fluorescent lighting still accounts for approximately 31% of lighting energy usage, especially in the linear fixture submarkets. With the increasing adoption of LED street lighting in urban areas for energy savings and cost reduction, there is a growing demand for reliable and efficient LED driver integrated circuits. The drivers play a crucial role in controlling voltage and current for outdoor lighting needs. They also offer important features like dimming, thermal control, and protection against over-voltage and over-current issues, which are crucial due to the impact of environmental factors.
Get a Sample Report of LED Driver IC Market Forecast @ https://www.snsinsider.com/sample-request/3581
Dominant Market Players with their Products Listed in this Report are:
- Texas Instruments (TPS92515, LM3409)
- STMicroelectronics (LED2000, HVLED001A)
- ON Semiconductor (NCL30051, NCL30160)
- Analog Devices (LT3952, LT3795)
- Infineon Technologies (ILD8150, ILD6150)
- Microchip Technology (MIC4802, HV9921)
- NXP Semiconductors (SSL5301T, SSL4101T)
- Maxim Integrated (MAX16832, MAX16834)
- Diodes Incorporated (AL1791, BCR431U)
- Rohm Semiconductor (BD18347EFV-M, BD18336NUF-M)
- Panasonic Corporation (AN34025A, AN34042A)
- Samsung Electronics (S2LM301A, S2LM302A)
- Toshiba Corporation (TB62D901, TB62D902)
- Renesas Electronics (ISL1904, ISL97634)
- Power Integrations (LYTSwitch-5, LYTSwitch-6)
- Semtech Corporation (SC5010, SC5026)
- Mean Well (LDD-700L, LCM-60)
- Philips Lumileds (Xitanium LED drivers, Fortimo LED drivers)
- Osram Opto Semiconductors (OTi DALI, OT FIT 75/220-240/2A0 CS)
- Broadcom Inc. (ACPL-K30T, ACPL-K34T)
“In-Depth Segment Analysis: Unpacking Key Market Dynamics”
By Type: In 2023, the step-down (buck) LED driver IC emerged as the dominant segment, holding an impressive 37% market share. Buck converters are created to efficiently reduce voltage from a higher input to a lower output, making them perfect for providing power to low voltage LEDs. Their design reduces energy waste, helping to prolong the lifespan of both the LED parts and the drivers. This effectiveness is essential as the sector shifts towards eco-friendly lighting options, making buck drivers the top pick for manufacturers aiming to improve efficiency and minimize energy consumption.
By Application: The consumer electronics sector took the lead in the LED driver IC market, capturing a substantial 41% market share. This dominance is supported by the extensive use of LED technology in devices like televisions, smartphones, computers, and smart home products. The increasing consumer desire for energy-efficient lighting and improved display features has greatly fueled the growth of this industry, with manufacturers concentrating on creating products that cater to aesthetic and functional requirements while encouraging energy conservation.
Do you Have any Specific Queries or Need any Customize Research on LED Driver IC Market, Request for Analyst Call @ https://www.snsinsider.com/request-analyst/3581
Key Market Segments:
By Type
- Buck-Boost
- Current Sink
- Inductorless (Charge Pump)
- Step-Down (Buck)
- Others
By Application
- Consumer Electronics
- Healthcare
- IT & ITES
- Automotive
- Telecommunication
- Government
- Others
“Regional Dynamics and Growth Trends in the Global Market: A Comprehensive Analysis”
In 2023, North America held a 35% market share in the LED Driver IC market, supported by its strong technological infrastructure and widespread use of advanced lighting solutions. The area is well-known for its established electronics manufacturing sector and a high need for energy-saving lighting systems, especially in commercial and residential settings. Continual research and development efforts are essential for driving progress in LED technologies, reinforcing North America’s dominant position in the market. Cree, Inc. and Analog Devices are at the forefront of innovation, pushing the advancement of next-gen LED driver IC solutions.
The Asia-Pacific region is poised for rapid growth in the LED Driver IC market, with a notable CAGR projected from 2024 to 2032. Rapid industrialization, urbanization, and increasing consumer demand for energy-efficient lighting options are the main drivers of this growth. Nations like China, India, and Japan are leading the way in this growth, with substantial investments in infrastructure and smart city projects backing them up. Leading companies such as Nichia Corporation and ROHM Semiconductor are playing a significant role in enhancing LED technologies in the area, meeting the growing need for eco-friendly lighting options.
Recent Developments
| Date | Development |
| August 2024 | The LED company from San Jose, California, has just launched its new LUXEON HL4Z without a dome, providing over 1,400 lumens with a 2.16mm2 light emitting surface when powered with up to 3.5A, thanks to its spacious thermal pad. |
| February 2024 | Alpha and Omega Semiconductor Limited (AOS) (Nasdaq: AOSL), a company that designs, develops, and supplies a variety of power devices and management ICs, has introduced the AOZ32063MQV gate driver for BLDC motor applications. |
| October 2023 | Macroblock, expanding into new areas, has started to enter the automotive industry, with major global manufacturers increasingly using Macroblock’s LED automotive driver ICs. |
Purchase an Enterprise User License of LED Driver IC Market Report at 40% Discount @ https://www.snsinsider.com/checkout/3581
Future Trends
Advancements in IoT technology are driving increased adoption of smart lighting solutions, leading to new innovation opportunities for LED driver manufacturers. It is probable that the need for drivers capable of accommodating smart functions like remote control and compatibility with home automation systems will increase. Moreover, continuous advancements in wireless communication and energy harvesting technologies will continue to drive the market forward, allowing for the creation of more effective and adaptable lighting solutions for various uses. The industry landscape will continue to be influenced by the shift to energy-efficient and environmentally friendly LED drivers with a focus on sustainability.
Table of Contents – Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Pricing and Revenue Metrics
5.2 Technology Adoption Metrics, by Region
5.3 Environmental and Compliance Metrics
5.4 Supply Chain and Production Metrics
6. Competitive Landscape
7. LED Driver IC Market Segmentation, by Type
8. LED Driver IC Market Segmentation, by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
Access Complete Report Insights of LED Driver IC Market Growth & Outlook 2024-2032@ https://www.snsinsider.com/reports/led-driver-ic-market-3581
[For more information or need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
