Latin America Led Driver Market Size & Outlook, 2023-2030
Latin America led driver market, 2017-2030 (US$M)
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Latin America led driver market highlights
- The Latin America led driver market generated a revenue of USD 4,790.7 million in 2023.
- The market is expected to grow at a CAGR of 6.6% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 4,790.7 million |
| Market revenue in 2030 | USD 7,495.4 million |
| Growth rate | 6.6% (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, Latin America region accounted for 9.7% 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 |
|---|
Latin America 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 41.95% in 2023. Horizon Databook has segmented the Latin America led driver market based on driver ic, discrete component covering the revenue growth of each sub-segment from 2017 to 2030.
The Latin America region is expected to register the fastest CAGR of 24.8% during the forecast period. The growing popularity of LED drivers in Latin America is due to lower LED manufacturing costs and increased demand towards energy-efficient and sustainable lighting.
Indoor lighting accounts for the largest proportion of LED lighting and fixtures, as people nowadays prefer their buildings to create an aesthetic environment for guests, resulting in an increase in demand for aesthetic LED lighting in eateries, hotels, homes, and workplaces.
Brazil is the leading country in terms of LED drivers’ demand. Furthermore, in Brazil, the State of Rio de Janeiro signed a Memorandum of Understanding with Regions 20 (R20) to replace street lights with energy saving LEDs, and this programme included 40 cities, boosting demand for LED drivers throughout Latin America.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America led driver market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America led driver market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America led driver market size, by country, 2017-2030 (US$M)
Latin America LED Driver Market Outlook Share, 2023 & 2030 (US$M)
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