Online customer service
Online customer service system

The estimated market volume for global LED driver ic market up to the year 2022

Although still during the pandemic of covid-19, the global LED driver ic market for led lights is expected to keep high growth pace until the whole year 2022. It is estimated that the total market volume will be up to USD 24.98 Billion by the end of 2022. The major factors driving the growth of LED driver ic market arises from increasing demand for energy-saving led lighting fixtures, integration for IoT and led lights and acceptance of standard protocols for lighting control,etc.

Constant current LED drivers are expected to be the leading LED driver ic type by its driving method. Compared with constant voltage LED driver ic, the constant current driver ics can avoid violating the maximum current specified for the LED lighting so as to avoid  thermal overheat and burnout.

Outdoor,traffic lighting and automotive led lights are expected to dominate end-user application in the LED driver ic market. 

Europe held the second-largest share of the LED driver ic market for lighting in 2020, while the market in Asia will grow at the highest CAGR so as to take largest market share in the end. This growth of the LED driver ic market in Asia market arises from the greater demand for energy saving lighting systems and a growing population. 
the different market size of led driver ics in different regions

The major players in the market are Osram GmbH (Germany), Harvard Engineering (U.K.), Texas Instruments (U.S.), Maxim Integrated (U.S.), Macroblock, Inc. (Taiwan), and others. These players adopted various strategies such as new product developments, mergers, partnerships, collaborations, and business expansions to grow their revenue in the LED driver ic market for led lighting.
Share to the following social media