LED Driver IC Market Research Report Information by Type (Buck-Boost Led Driver IC, Current Sink Led Driver IC, Inductor less (Charge Pump) Led Driver IC, Step-Down (Buck) Led Driver IC, and Others), By Application (Consumer Electronics, Healthcare, IT & ITES, Automotive, Telecommunication, Government, and Others), and By Region (North America, Europe, Asia-Pacific, and Rest of the World) - Industry Size, Share and Forecast till 2032

Global LED Driver IC Market Overview

LED Driver IC Market Size was valued at USD 3,785.89 million in 2022. The LED Driver IC Market is projected to grow from USD 4,762.58 million in 2023 to USD 26,576.23 million by 2032, exhibiting a compound annual growth rate (CAGR) of 21.0% during the forecast period (2023-2032). The rise in the demand for energy-efficient electronic products and ongoing energy-saving government initiatives across the globe are driving the growth of the market.

LED Driver IC Market Size (2019-2032) (USD Billion)

LED Driver IC Market Trends

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  Rise in the demand for energy-efficient electronic products

  
  

Electronic technology has advanced dramatically during the last two decades. A wide range of active display drivers are used in today's electronic displays (a driver is basically a semiconductor integrated circuit). Due to the increasing demand for LED lights, low power consumption electronic goods, and touch-enabled screens in consumer electronics and devices, the LED driver IC market is one of the fastest growing markets. Furthermore, the growing use of energy-efficient lighting systems in homes, as well as outdoor and traffic lighting, is propelling the LED driver IC market forward. Global need for electronic devices, combined with energy-efficient lighting solutions, are important growth drivers for the LED driver IC industry. They are less expensive over the life of the system and produce greater, brighter light. LED lighting will greatly reduce energy consumption, significantly reduce greenhouse gas emissions, and present lighting designers with increasingly complex options—but only if driver technology is used.

LED Driver IC Market Segment Insights

LED Driver IC Market Type Insights

Based on product type, the LED Driver IC Market has been segmented into Buck-Boost Led Driver IC, Current Sink Led Driver IC, Inductorless (Charge Pump) Led Driver IC, Step-Down (Buck) Led Driver IC and Others. Buck-boost LED IC drivers allow LED bias when the input voltage is either above or below the LED voltage. This is perfect for situations where a single lithium-ion (Li-Ion) battery is powering a single LED and the input voltage varies from 4.2 V when fully charged to 2.7 V when it is completely discharged, while the LED's forward voltage varies from 2 V to 4 V depending on temperature and brightness. With growing demand for this IC for Backlighting whereas, growing use of color LCDs in hand-held equipment is generating demands or smaller and cheaper sources of white backlight.

LED Driver IC Market by Type (2022 VS 2032) (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

LED Driver IC Market Application Insights

Based on number of applications, the LED Driver IC Market has been segmented into Consumer Electronics, Healthcare, IT & ITES, Automotive, Telecommunication, Government and Others. The consumer electronics sub-segment is expected to experience high growth in the LED Driver IC Market, due to the increasing demand for energy-efficient consumer electronic goods. Consumer demand for more energy-efficient products is rising in response to consumers' growing awareness of energy issues and their costs, which will continue to be a primary driver of new product development and innovation. Thus, due to energy-efficient consumer electronic the demand for LED driver IC market is expected to grow. Moreover, with the rising deployment of LED driver ICs in autonomous vehicles, the automotive sub-segment is expected to experience a high CAGR in the LED Driver IC Market.

LED Driver IC Market by Applications (2022 VS 2032) (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

LED Driver IC Market Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. North America is one of the leading markets for LED driver ICs. The growth of the LED driver IC market in the region can be attributed to the increasing adoption of LED lighting in various applications such as residential, commercial, industrial, and automotive lighting. The US is the largest market for LED driver ICs in North America, with the presence of major LED lighting manufacturers such as Cree, Inc., and General Electric Company. The growing demand for energy-efficient lighting solutions and the increasing adoption of smart lighting systems are expected to drive the growth of the LED driver IC market in the United States.

Asia Pacific region is one of the fastest-growing markets for LED driver ICs. China is the largest market for LED driver ICs in the Asia Pacific region, with the presence of major LED lighting manufacturers such as Cree, Inc., Nichia Corporation, and Osram Opto Semiconductors GmbH. The growing demand for energy-efficient lighting solutions and the increasing adoption of smart lighting systems are expected to drive the growth of the LED driver IC market in China. The government's initiatives to promote energy-efficient lighting solutions and the increasing demand for LED lighting in various applications are expected to drive the growth of the LED driver IC market in India. 

Further, the countries considered in the scope of the LED Driver IC Market are the US, Canada, Mexico, UK, Germany, France, Italy, Spain, Switzerland, Austria, Belgium, Denmark, Finland, Greece, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Romania, Ireland, China, Japan, Singapore, Malaysia, Indonesia, Philippines, South Korea, Hong Kong, Macau, Singapore, Brunei, India, Australia & New Zealand, South Africa, Egypt, Nigeria, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman, Brazil, Argentina, Chile, and others.

LED Driver IC Market Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the LED Driver IC Market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the LED Driver IC industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

Samsung Electronics pursues a strategy of expansion and product diversification. It believes in joint investments and focuses on R&D projects as a key strategy to meet the digital vision. The company concentrates on streamlining inventories. It also focuses on smart devices and strengthens its operational capabilities. It aims to provide differentiated products and services to its customers by integrating the latest technologies into its existing products.

Key Companies in the LED Driver IC Market include

• SAMSUNG ELECTRONICS CO. LTD


• TOSHIBA CORPORATION


• GENERAL ELECTRIC


• PHILLIPS LIGHTING HOLDING B.V.


• OSRAM LICHT AG


• TEXAS INSTRUMENTS


• MITSUBISHI ELECTRIC CORPORATION


• RENESAS ELECTRONICS CORPORATION


• ANALOG DEVICES, INC.


• INFINEON TECHNOLOGIES AG


• SIEKO EPSON CORPORATION


• SEOUL SEMICONDUCTOR CO., LTD.


• NXP SEMICONDUCTORS


• ON SEMICONDUCTOR CORPORATION


• STMICROELECTRONICS N.V


• TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED


• ROHM CO., LTD, among others

LED Driver IC Market Industry Developments

June 2022 OSRAM announced that Taiwan-based Ledtech had chosen the high-performance OSLON UV 3636 UV-C LEDs to provide a sanitization function in its new BioLED intelligent air purifier. Using cutting-edge active anti-bacterial techniques, the BioLED combines an active carbon filter to prevent airborne particulate pollution as fine as PM2.5, pollen, mold, and dust mites, as well as UV-C radiation to inactivate viruses, bacteria, and fungi while the filtering process is taking place.

February 2022 Samsung introduced the LM301H EVO plant-centric spectrum LEDs for the most productive indoor farming. Using its top-notch spectrum engineering capabilities, Samsung has created a genuine horticulture light source with a 437 nm spectral peak that delivers industry-leading PPE to promote crop quality and plant development.

Intended Audience

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  • Technology Industry
  
  
  • Technology Investors
  
  
  • Defense industry
  
  
  • Retail Industry
  
  
  • Fashion Industry
  
  
  • Manufacturer of LED Driver IC
  
  
  
  

Industry associations and trade organizations

LED Driver IC Market Segmentation

LED Driver IC Market Type Outlook

• Buck-Boost Led Driver IC


• Current Sink Led Driver IC


• Inductorless (Charge Pump) Led Driver IC


• Step-Down (Buck) Led Driver IC


• Others

LED Driver IC Market Application Outlook

• Consumer Electronics


• Healthcare


• IT & ITES


• Automotive


• Telecommunication


• Government


• Others

LED Driver IC Market Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • UK
  
  
  • France
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Rest of Asia Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East & Africa

    
    
  
  
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    South America