LED driver market is expected to register a CAGR of 29.28%

The LED driver market is expected to register a CAGR of 29.28% during the forecast period (2020 - 2025). LED drivers have become the bottleneck of LED lighting, both in terms of size and reliability.

They provide fundamental advantages for LED lighting with smaller form factors, higher reliability, and improved efficiency over the dimming curve. The increasing energy-efficient policies by the federal government and councils across the countries have deliberately motivated the investments in energy-efficient practices and technologies.  

The display devices, such as smartphones, tablets, laptops, and television, have widely adopted LED backlighting systems due to their low power consumption, and small and thin packing ability. Despite their wide adoption, the manufacturers are continuing to invest in backlighting systems to enhance the user experience.

The residential market demand for the solutions is significant; according to the US Energy Department, there were at least 500 million recessed downlights installed in the US homes, and over 20 million are sold each year. Owing to this, the demand for drivers from the segment are expected to increase significantly over the coming years.