Revenue of global LED driver ic market is expected to be up to US$ 64.13 billion by the year 2028

LED driver ics are very important components to protect LEDs from high voltage surge and fluctuations during power supply. They are designed to run on low voltages and direct current, so electric power can be achieved to maintain voltage and current passing reliably via LED circuit at high rate without burning out the PCBA easily. The driver ic can provide incessant power supply to LED when electrical properties change with different temperature for LED, so it is much suitable for many outdoor applications for street led light, roadway lighting,tunnel lighting,highway lighting. Also, many automotive led lights will need led driver ic with constant current for operation, such as led work lights, led emergency lights, led driving lights,etc.

Basically, the global LED diver market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia pacific takes the largest share in the market. The dominance of the Asia Pacific region arises from greater demand for LED lights and an increase in the regional population.

The growth of LED driver market will arise from of mass application of led lights at home,office, automobile,outdoors and use of Internet Of Things (IoT) tools in smart city projects. We also can forsee the expanding scope of LED driver ic market by more use of standard guidelines for lighting control.

Nowadays, more and more smart street lights embedded with sensors are installed in a large number of citities. Also, many LED driver ics are applied to industrial, commercial and agricultural sectors to boost rising trend of LED driver ic market.

The major players in the market are Maxim Integrated, Texas Instruments, Osram GmbH, Harvard Engineering, Macroblock Inc., Atmel Corporation, General Electric, Cree, Inc., ROHM Semiconductors, ON Semiconductor.

According to some market survey reports by verified market search, the total revenue of global LED driver ic market was to estimated to be up to US$ 12.31 billion in previous year 2021, it is expected to be up to about US$ 64.13 billion by the year 2028.The GAGR rate is anticipated to be almost 26.1% from the year 2022 to 2028.