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LED Driver Market Trends

  • Report ID: GMI8979
  • Published Date: Apr 2024
  • Report Format: PDF

LED Driver Market Trends

There is a growing adoption of smart LED drivers equipped with advanced features such as wireless connectivity, sensor integration, and IoT compatibility. These smart drivers allow for remote monitoring and control of lighting systems, enabling dynamic adjustments based on factors such as occupancy, daylight levels, and energy consumption. As businesses and consumers seek more intelligent and connected lighting solutions, the demand for smart LED drivers is expected to rise significantly. In October 2022, Melexis released the MLX81143 LED driver, the newest member of the MeLiBu family. It incorporates 21 LED drivers and enhances the overall system's power management. The MLX81143 offers an extensive dimming range, enabling brightness control day and night. Up to 3000 LEDs can be driven concurrently in an automobile using the MeLiBu interface. The technology permits communication with the driver and dynamic safety alerts.
 

Energy efficiency and sustainability continue to be key factor propelling the LED driver market. With increasing environmental awareness and stringent regulations aimed at reducing energy consumption and carbon emissions, there is a growing emphasis on developing LED drivers that maximize energy efficiency and minimize environmental impact. Manufacturers are investing in technologies, such as digital power management, Power Factor Correction (PFC), and dimming control, to enhance the efficiency of LED lighting systems. Additionally, there is a rising demand for LED drivers made from environment-friendly materials and manufacturing processes, reflecting a broader trend toward sustainable lighting solutions.
 

In March 2022, the Yangtze River International Conference Center lighting design implemented DALI dimmable LF-AADxxx series LED drivers to meet energy efficiency demands. Meanwhile, due to the precise control of the lighting energy of the DALI lighting control system and its combination with the building's high-performance curtain walls and environmental protection landscapes, the Yangtze River International Conference Center was awarded the highest-grade mark of China Green Building Evaluation and Certification System.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

Market size for LED driver was valued at USD 14.5 billion in 2023 and is estimated to register over USD 50.5 billion by 2032, driven by increasing adoption of LED lighting across various applications.

The decorative lamp segment in the LED driver industry is anticipated to grow at 18% CAGR between 2024 and 2032, attributed to the rise of smart home technologies.

Asia Pacific market is expected attain 16% CAGR from 2024 to 2032, favored by government initiatives promoting energy-efficient lighting solutions, rapid urbanization, and infrastructure development.

Ams-OSRAM AG, Analog Devices, Inc., Microchip Technology Inc., NXP Semiconductors, ROHM CO., LTD., STMicroelectronics and Signify Holding

LED Driver Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 295
  • Countries covered: 21
  • Pages: 220
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