New York, USA, July 19, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “LED Driver IC Market Research Report: By Type, application, and Region - Forecast Till 2032, the market is anticipated to acquire a valuation of approximately USD 26,576.23 million by the end of 2032. The reports further predict the market to flourish at a robust CAGR of over 21% during the assessment timeframe.
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 SEMICONDUCTOR
- SON SEMICONDUCTOR CORPORATION
- STMICROELECTRONICS N.V
- TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
- ROHM CO., LTD,
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Scope of the Report – LED Driver IC Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 26,576.23 Million |
| Growth Rate | CAGR of 21% from 2023 to 2032 |
| Base Year | 2022 |
| Market Forecast | 2023-2032 |
| Key Market Opportunities | Rising Deployment Of Led Driver Ics In Autonomous Vehicles Miniaturization Of Ic’s |
| Key Market Dynamics | Rise In The Demand For Energy-Efficient Electronic Products On-Going Energy-Saving Government Initiatives Across The Globe |
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In the past 20 years, electronic technology has improved significantly. Today's electronic displays use a variety of active display drivers (a driver is essentially a semiconductor integrated circuit). The LED driver IC industry is one of the fastest expanding markets as a result of the rising demand for LED lights, low power electronic products, and touch-enabled screens in consumer electronics and devices. Additionally, the market for LED driver IC is being driven ahead by the rise in household energy-efficient lighting systems as well as outdoor and traffic lighting. Energy-efficient lighting options and the global need for electronic gadgets serve as key growth factors for the LED driver IC industry. Over the course of the system, they are less expensive and provide more powerful, brighter light. If driver technology is implemented, LED lighting will drastically reduce energy usage, significantly reduce greenhouse gas emissions, and provide lighting designers more alternatives.
Segment Insights
The LED Driver IC Market has been divided 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 based on product type. When the input voltage is either above or below the LED voltage, buck-boost LED IC drivers permit LED bias.
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The LED Driver IC Market has been divided into several categories based on the number of applications: consumer electronics, healthcare, IT & ITES, automotive, telecommunication, government, and others. Due to the rising demand for consumer electronics that use less energy, the consumer electronics sub-segment in the LED Driver IC Market is anticipated to rise rapidly.
North America, Europe, Asia-Pacific, and the Rest of the World are the regions into which the study divides the market. One of the major markets for LED driver ICs is North America. The rising use of LED lighting in a variety of applications, including home, business, industrial, and automotive lighting, is responsible for the region's LED driver IC market's expansion. Due to the presence of major LED lighting producers like Cree, Inc. and General Electric Company, the US is the largest market for LED driver ICs in North America. The expansion of the LED driver IC market in the United States is anticipated to be fueled by the rising need for energy-efficient lighting solutions and the expanding use of smart lighting systems. One of the markets for LED driver ICs that is expanding the quickest is the Asia Pacific region.
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With major LED lighting producers like Cree, Inc., Nichia Corporation, and Osram Opto Semiconductors GmbH present, China is the region's largest market for LED driver ICs. The market for LED driver ICs in China is anticipated to increase as a result of the rising demand for energy-efficient lighting options and the expanding use of smart lighting systems. The government's programmes to support energy-efficient lighting options and the rising demand for LED lighting in a variety of applications are anticipated to fuel the LED driver IC market's expansion in India.
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