Asia Pacific Led Driver Market Size & Outlook, 2023-2030
Asia Pacific led driver market, 2017-2030 (US$M)
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Asia Pacific led driver market highlights
- The Asia Pacific led driver market generated a revenue of USD 14,213.2 million in 2023.
- The market is expected to grow at a CAGR of 9.2% from 2024 to 2030.
- In terms of segment, driver ic was the largest revenue generating component in 2023.
- Driver IC is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, Taiwan is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 14,213.2 million |
| Market revenue in 2030 | USD 26,334.4 million |
| Growth rate | 9.2% (CAGR from 2023 to 2030) |
| Largest segment | Driver ic |
| Fastest growing segment | Driver IC |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Driver IC, Discrete Component |
| Key market players worldwide | Microchip Technology Inc, Cree LED, Hubbell Inc, Signify NV, Samsung Electronics Co Ltd, Lutron Electronics, Macroblock, Analog Devices Inc, NXP Semiconductors NV, Onsemi Intelligent Technology, Ams-OSRAM AG, Rohm Co Ltd, STMicroelectronics NV, Texas Instruments Inc, Eaglerise Electric & Electronic, Ace Led Light Co. |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 28.6% of the global led driver market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 22,504.7 million by 2030.
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LED Driver Market Scope
LED Driver Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific led driver market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to led driver market will help companies and investors design strategic landscapes.
Driver ic was the largest segment with a revenue share of 41.81% in 2023. Horizon Databook has segmented the Asia Pacific led driver market based on driver ic, discrete component covering the revenue growth of each sub-segment from 2017 to 2030.
Furthermore, a drop in the average selling price of drivers, combined with technological developments, has led in increased demand across the lighting industry. In 2021, China accounted for highest market share of over 46%. China is a major producer of consumer and industrial electronics, as well as a major supplier of LED driver components.
LED lights are progressively replacing traditional lighting goods in China, thanks to their significant advantages. The Chinese government has also been assisting in the sector's expansion by delivering large subsidies for the implementation of LED products.
Furthermore, in November 2021, the Chinese government outlawed incandescent bulbs unveiling the country's incandescent bulb phase-out strategy with National Development and Reform Commission. Infrastructure growth, lower pricing, local energy conservation targets, and rising urbanization levels are some of the other significant reasons driving the LED industry in China.
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Our clientele includes a mix of led driver market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific led driver market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific led driver market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific led driver market size, by country, 2017-2030 (US$M)
Asia Pacific LED Driver Market Outlook Share, 2023 & 2030 (US$M)
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