According to a market report by Lucintel, the future of constant current in the global LED driver market looks promising with opportunities in the commercial lighting, residential lighting, architecture, airport and dockyard, healthcare, office, horticulture, and retail applications. The global LED driver market in terms of constant current usage is expected to reach an estimated $8.7 billion by 2028 with a CAGR of 16.1% from 2023 to 2028. The major drivers for this market are increasing need for constant current to optimize light output without overloading LEDs and deliver consistent lighting, growing demand for energy-efficient lighting system, and on-going technological advancements in internet of things and lighting integration.
In this market, decorative lamps, reflectors, type A lamp, and integral LED modules are the major segments of constant current in the global LED driver market by luminaire type. Lucintel forecasts that decorative lamps are expected to witness highest growth over the forecast period due to the growing usage of these lamps in office buildings, restaurants, and casinos as well as for indoor lighting in homes owing to its premium appearance and energy-efficient features.
Within this market, commercial lighting is expected to witness highest growth over the forecast period due to growing demand for LED lights in commercial buildings, offices, stores, and schools.
Asia Pacific will remain the largest region during the forecast period due to rapid urbanization and high production and consumption for LED lighting in China.
Wolfspeed, General Electric, Macroblock, Koninklijke Philips, and Lutron Electronics are the major suppliers of constant current in the global LED driver market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for constant current in the global LED driver market by luminaire type, power, driver type, AC input voltage, end use industry, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities for Constant Current in the Global LED Driver Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for constant current in the global LED driver market by luminaire type, power, driver type, AC input voltage, end use industry, and region, as follows:
Constant Current in the LED Driver Market by Luminaire Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Decorative Lamps
Reflectors
Type A Lamp
Integral LED Modules
Others
Constant Current in the LED Driver Market by Power [Value ($B) Shipment Analysis from 2017 to 2028]:
0-10W
10-60W
60-100W
>100W
Constant Current in the LED Driver Market by Driver Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Constant Current in the LED Driver Market by AC Input Voltage [Value ($B) Shipment Analysis from 2017 to 2028]:
Less Than 120 V
120-299V
300 and Above
Constant Current in the LED Driver Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
Commercial Lighting
Residential Lighting
Architecture
Airports and Dockyard
Healthcare
Office
Horticulture
Retail
Others
Constant Current in the LED Driver Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for constant current in the global LED driver market by luminaire type (decorative lamps, reflectors, type A lamp, integral LED modules, and others), power (0-10W, 10-60W, 60-100W, and >100W), driver type (external and internal), AC input voltage (less than 120 V, 120-299V, and 300 and above), end use industry (commercial lighting, residential lighting, architecture, airports and dockyard, healthcare, office, horticulture, retail, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occur in the last five years and how did they impact the industry?