Global Automotive LED Drivers Market

Automotive LED Drivers Market Size, Share, Growth Analysis, By Application(Interior Lighting, Exterior Lighting, Dashboard Lighting), By Type(Constant Current, Constant Voltage, Hybrid.), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20D2168 | Region: Global | Published Date: April, 2024
Pages: 202 |Tables: 63 |Figures: 76

Automotive LED Drivers Market Insights

Global Automotive LED Drivers Market size was valued at USD 6.79 Billion in 2022 and is poised to grow from USD 8.39 Billion in 2023 to USD 45.38 Billion by 2031, at a CAGR of 23.5% during the forecast period (2024-2031).

The global Automotive LED driver market attempts to fulfill the increasing demand for energy-effective and environmentally friendly lighting solutions that also have a place within automobiles; Therefore, LED drivers act as electronic devices and have a key role to control the power given to an LED light system in cars. The importance of these is that they limit voltage and current to focus the LEDs, making them effectively functional over a long period. The last five years recorded a growth rate of 1.4 times resulting in the utilization of automotive LED lights for headlamps, and observing the trend pattern, it is set to increase by an additional 2.1 times in near future Secondly, the sidelight sector is likely to record a strong growth-rate of 9.5% CAGR in the ensuing years that amounts up to an enormous opportunity worth USD 1.2 billion by the end of that forecasted estimates period. The phenomenal boom in the automotive LED light market that has recently taken place can be credited to the growing global love of luxury passenger cars. In the foreseeable future, the growing population of the world is a positive factor to remain attractive demand of auto led lights remains.

This market is being driven by high rates of product replacement, particularly in the sense that new LED lights are replacing older halogen light technologies. This move is prompted by the ability of LED drivers to increase the lifespan for the LED illuminations. The constant development of LED drivers in increasing their technological compatibility allows for more compact and versatile storable drivers, which can be applied to light fixtures and applications to fit a wide range of present-day lighting technology. Increased usage of miniature LEDs in multitudinous aspects of automotive components like interior lighting, dome lights, courtesy lamps, car headlights along with fast acting tail-lights as well had highly driven the demand for LED drivers which act as another important driver factor for this electronic solutions market. Additionally, the gradually changing trend towards energy-saving alternatives coupled with the fact that governments began to tighten regulatory laws requiring safety measures such as powerful headlights to turn off blind oncoming drivers and prevent crashes provide further stimuli expanding the automotive LED driver market.

US Automotive LED Drivers Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 6.79 Billion

Largest Segment

Hybrid

Fastest Growth

Constant Current

Growth Rate

23.5% CAGR

Global Automotive LED Drivers Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Automotive LED Drivers Market Segmental Analysis

Global Automotive LED Drivers Market is segmented on the basis of application, type, and region. By application, the market is segmented into interior lighting, exterior lighting, dashboard lighting. By type, the market is segmented into constant current, constant voltage, hybrid. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Global Automotive LED Drivers Market Analysis by Application

In 2021, LED drivers will be widely used in interior lighting applications in vehicles, such as dome lights, reading lights, and ambient lighting. The increasing demand for high-quality, energy-efficient, and customizable lighting solutions in passenger cars is expected to drive the growth of this segment. Over the course of the forecast period, the interior lighting market is anticipated to expand at a compound annual growth rate (CAGR) of over 15%.

LED drivers are also used in exterior lighting applications in vehicles, such as headlights, taillights, and turn signals. The increasing demand for advanced lighting solutions, such as adaptive headlights and LED-based brake lights, is expected to drive the growth of this segment.

Global Automotive LED Drivers Market Analysis by Type

Hybrid LED Drivers can operate in both constant current and constant voltage modes, making them suitable for a wide range of LED applications. This segment is expected to grow at a CAGR of over 13% during the forecast period.

The growing segment in the automotive LED driver market in 2021 is expected to be the constant current LED driver segment. Constant Current LED Drivers maintain a constant current to the LED regardless of variations in voltage. They are typically used in high-power LED applications and provide efficient and stable LED operation. This segment is expected to grow at a CAGR of over 12% during the forecast period.

Global Automotive LED Drivers Market Size By Type, 2023 (%)

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Automotive LED Drivers Market Regional Insights

With a revenue share of 44.4% in 2021, Asia Pacific dominated the market for LED drivers. From 2022 to 2030, the market is projected to grow at a CAGR of more than 23.9%. Government subsidies, an increase in the use of LED lighting, and improved manufacturing facilities in the area are all responsible for the region's rise. In March 2021, the Indian government introduced the GRAMME UJALA programmer, which will offer LED lights to rural communities for just Rs. 10 each. Rural consumers can receive 7-watt and 12-watt LED lights with a three-year warranty if they send in functional incandescent bulbs. Additionally, the Indian government distributed 36.78 crore INR worth of LED lights all around the country

The fastest-growing and dominant segment in this region is expected to be the interior lighting segment, with a CAGR of over 14%. The European region is expected to witness significant growth in the automotive LED driver market during the forecast period due to the increasing demand for energy-efficient and sustainable lighting solutions in vehicles.

Global Automotive LED Drivers Market Size By Region, 2024-2031
  • Largest
  • Fastest

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Automotive LED Drivers Market Dynamics

Global Automotive LED Drivers Market Drivers

Advancements in Automotive Lighting Technology to bring Lucrative Revenue generating Opportunities

  • Advancements in automotive lighting technology have led to the development of innovative LED lighting solutions that offer better performance, reliability, and aesthetics. LED drivers are critical components of these lighting solutions as they provide the necessary power and voltage for efficient and safe operation.
  • The demand for energy-efficient lighting solutions is increasing due to rising awareness about energy conservation, environmental concerns, and stringent government regulations. LED drivers play a crucial role in providing energy-efficient lighting solutions that consume less power and offer long-term cost savings.

Global Automotive LED Drivers Market Restraints

Quality Issues and Reliability Concerns to Hinder Market Growth

  • LED drivers must meet strict quality standards and reliability requirements to ensure safe and efficient operation. Poor quality LED drivers can lead to failures, malfunctions, and safety issues, leading to reduced customer trust and lower market demand.

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Automotive LED Drivers Market Competitive Landscape

As a crucial tactic to boost their market share, businesses have turned to mergers and acquisitions. Like the acquisition of Fluence from ams-OSRAM by Signify Holdings, which was announced in May 2022. The purchase aided the business's expansion in the North American horticulture lighting sector as well as the upgrading of its global agriculture lighting platform. Additionally, businesses are spending money on research and development while aiming to provide novel solutions.

Top Player’s Company Profiles in Global Automotive LED Drivers Market

  • Texas Instruments Inc. (US)
  • ON Semiconductor (US)
  • Infineon Technologies AG (Germany)
  • STMicroelectronics (Switzerland)
  • NXP Semiconductors N.V. (Netherlands)
  • Maxim Integrated (US)
  • Renesas Electronics Corporation (Japan)
  • Analog Devices, Inc. (US)
  • ROHM Semiconductor (Japan)
  • OSRAM GmbH (Germany)
  • Cree, Inc. (US)
  • Diodes Incorporated (US)
  • Richtek Technology Corporation (Taiwan)
  • Monolithic Power Systems, Inc. (US)
  • Power Integrations, Inc. (US)
  • Allegro Microsystems, LLC (US)
  • Melexis (Belgium)
  • Lumileds Holding B.V. (Netherlands)
  • Beijing Epsolar Technology Co., Ltd. (China)
  • ABLIC Inc. (Japan)
  • Xidas IoT (India)

Global Automotive LED Drivers Market Recent Developments

  • In March 2024, Diodes Incorporated (Diodes) releases a new automotive-compliant linear LED driver that enables users to independently control the brightness and color of its three channels. 
  • In August 2023, the ISELED Alliance added three new members, AutoChips, Zhixin Semiconductor and Hebatronic, in Germany and China making microcontrollers and Arduino-compatible LED driver and development boards for automotive applications. 
  • In July 2023, Marelli, together with ams OSRAM, launched a new form of automotive front lighting. The h-Digi microLED module, which is now in series production, is based on a new type of intelligent multipixel LED, which enables fully adaptive, dynamic headlight operation and image projection.

Automotive LED Drivers Key Market Trends

  • The increasing focus on safety and driver assistance systems is driving the demand for LED drivers with advanced features such as dimming, color control, and automatic brightness adjustment. This trend is expected to drive the demand for advanced LED drivers in the automotive industry.

Automotive LED Drivers Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analyses, the global Automotive LED driver market is expected to grow at a significant rate in the coming years due to the increasing adoption of LED lighting solutions and the growing demand for advanced driver assistance systems (ADAS) in the automotive industry. LED lighting solutions offer better energy efficiency, longer lifespan, and better visibility compared to traditional lighting solutions, which is driving their adoption in the automotive industry. The demand for advanced LED drivers with features such as dimming, color control, automatic brightness adjustment, and wireless connectivity is increasing due to the growing demand for smart lighting solutions and the adoption of IoT and AI technologies. The global Automotive LED driver market is expected to witness significant growth in the coming years, driven by the increasing adoption of LED lighting solutions and the growing demand for advanced driver assistance systems and smart lighting solutions in the automotive industry.

Report Metric Details
Market size value in 2023 USD 6.79 Billion
Market size value in 2031 USD 45.38 Billion
Growth Rate 23.5%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Application
    • Interior Lighting, Exterior Lighting, Dashboard Lighting
  • Type
    • Constant Current, Constant Voltage, Hybrid.
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Texas Instruments Inc. (US)
  • ON Semiconductor (US)
  • Infineon Technologies AG (Germany)
  • STMicroelectronics (Switzerland)
  • NXP Semiconductors N.V. (Netherlands)
  • Maxim Integrated (US)
  • Renesas Electronics Corporation (Japan)
  • Analog Devices, Inc. (US)
  • ROHM Semiconductor (Japan)
  • OSRAM GmbH (Germany)
  • Cree, Inc. (US)
  • Diodes Incorporated (US)
  • Richtek Technology Corporation (Taiwan)
  • Monolithic Power Systems, Inc. (US)
  • Power Integrations, Inc. (US)
  • Allegro Microsystems, LLC (US)
  • Melexis (Belgium)
  • Lumileds Holding B.V. (Netherlands)
  • Beijing Epsolar Technology Co., Ltd. (China)
  • ABLIC Inc. (Japan)
  • Xidas IoT (India)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Automotive LED Drivers Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Automotive LED Drivers Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Automotive LED Drivers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive LED Drivers Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive LED Drivers Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Automotive LED Drivers Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Automotive LED Drivers Market size was valued at USD 6.79 Billion in 2022 and is poised to grow from USD 8.39 Billion in 2023 to USD 45.38 Billion by 2031, at a CAGR of 23.5% during the forecast period (2024-2031).

As a crucial tactic to boost their market share, businesses have turned to mergers and acquisitions. Like the acquisition of Fluence from ams-OSRAM by Signify Holdings, which was announced in May 2022. The purchase aided the business's expansion in the North American horticulture lighting sector as well as the upgrading of its agriculture lighting platform. Additionally, businesses are spending money on research and development while aiming to provide novel solutions. 'Texas Instruments Inc. (US)', 'ON Semiconductor (US)', 'Infineon Technologies AG (Germany)', 'STMicroelectronics (Switzerland)', 'NXP Semiconductors N.V. (Netherlands)', 'Maxim Integrated (US)', 'Renesas Electronics Corporation (Japan)', 'Analog Devices, Inc. (US)', 'ROHM Semiconductor (Japan)', 'OSRAM GmbH (Germany)', 'Cree, Inc. (US)', 'Diodes Incorporated (US)', 'Richtek Technology Corporation (Taiwan)', 'Monolithic Power Systems, Inc. (US)', 'Power Integrations, Inc. (US)', 'Allegro Microsystems, LLC (US)', 'Melexis (Belgium)', 'Lumileds Holding B.V. (Netherlands)', 'Beijing Epsolar Technology Co., Ltd. (China)', 'ABLIC Inc. (Japan)', 'Xidas IoT (India)'

Advancements in automotive lighting technology have led to the development of innovative LED lighting solutions that offer better performance, reliability, and aesthetics. LED drivers are critical components of these lighting solutions as they provide the necessary power and voltage for efficient and safe operation.

The increasing focus on safety and driver assistance systems is driving the demand for LED drivers with advanced features such as dimming, color control, and automatic brightness adjustment. This trend is expected to drive the demand for advanced LED drivers in the automotive industry.

With a revenue share of 44.4% in 2021, Asia Pacific dominated the market for LED drivers. From 2022 to 2030, the market is projected to grow at a CAGR of more than 23.9%. Government subsidies, an increase in the use of LED lighting, and improved manufacturing facilities in the area are all responsible for the region's rise. In March 2021, the Indian government introduced the GRAMME UJALA programmer, which will offer LED lights to rural communities for just Rs. 10 each. Rural consumers can receive 7-watt and 12-watt LED lights with a three-year warranty if they send in functional incandescent bulbs. Additionally, the Indian government distributed 36.78 crore INR worth of LED lights all around the country

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Global Automotive LED Drivers Market

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