According to a market report by Lucintel, the future of general lighting in the LED driver market looks promising with opportunities in the residential, office, shop, hospitality, outdoor, industrial, and architectural applications. General lighting in the global LED driver market is expected to reach an estimated $13.1 billion by 2028 with a CAGR of 16.4% from 2023 to 2028. The major drivers for this market are increasing public awareness towards adoption of energy-efficient products and introduction of new switch-mode LED drivers that can be integrated with high-power LEDs for general lighting.
In this market, constant current and constant voltages are the two major segments of general lighting in LED driver market by supply type. Lucintel forecasts that constant current is expected to witness highest growth over the forecast period due to the rising use of these LED drivers in general lighting as they consumes lesser power and ensures longer life span.
Within this market, office is expected to witness highest growth over the forecast period due to the increasing need to meet energy codes for commercial buildings, increasing automation of lighting control in the commercial sector, and modernization in buildings are anticipated to drive the market for office application of general lighting LED drivers.
APAC is expected to witness highest growth over the forecast period due to rapid urbanization, growing number of households, and increasing demand for high brightness LED drivers for industrial general lighting in the region.
Texas Instruments, Toshiba Semiconductor, STMicroelectronics, ON Semiconductor, ROHM Semiconductor, and Osram GmbH are the major suppliers of general lighting in the global LED driver market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for general lighting in the global LED driver market by supply type, application, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities for General Lighting 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 a forecast for general lighting in the global LED driver market by supply type, application, and region, as follows:
General Lighting in LED Driver Market by Supply Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Constant Current
Constant Voltage
General Lighting in LED Driver Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Residential
Offices
Shops
Hospitality
Outdoor
Industrial
Architectural
General Lighting in LED Driver Market by Region [Value ($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 general lighting in the LED driver market by supply type (constant current and constant voltage), application (residential, offices, shops, hospitality, outdoor, industrial, and architectural), 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 has occurred in the last 5 years and what has its impact been on the industry?