PUBLISHER: The Business Research Company | PRODUCT CODE: 1526889
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526889
An electronic device known as an automotive LED driver regulates the power supplied to light-emitting diodes (LEDs) utilized in automotive lighting systems. These drivers are responsible for ensuring that LEDs receive the appropriate voltage and current, thereby maintaining optimal performance and longevity. The primary objective of automotive LED drivers is to offer dependable and efficient lighting solutions across a range of automotive applications, thereby enhancing safety and visibility.
The predominant product categories in the automotive LED drivers market encompass single-channel drivers, dual-channel drivers, and other variations. Single-channel drivers are specifically designed to power either a single LED channel or LED module. Various supply types, including constant current and constant voltage, cater to diverse applications such as passenger cars, commercial vehicles, and other automotive uses.
The automotive LED drivers market research report is one of a series of new reports from The Business Research Company that provides automotive LED drivers market statistics, including automotive LED drivers industry global market size, regional shares, competitors with a automotive LED drivers market share, detailed automotive LED drivers market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive LED drivers industry. This automotive LED drivers research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The automotive LED drivers market size has grown exponentially in recent years. It will grow from $8.14 billion in 2023 to $9.98 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth observed in the historical period can be credited to several factors, including the rising trend of vehicle electrification, increasing consumer demand for advanced features, regulatory mandates promoting energy efficiency, efforts by original equipment manufacturers (OEMs) to offer sustainable solutions, and the necessity for improved safety and visibility standards.
The automotive LED drivers market size is expected to see exponential growth in the next few years. It will grow to $22.81 billion in 2028 at a compound annual growth rate (CAGR) of 22.9%. The growth trajectory in the forecast period is driven by the escalating adoption of electric vehicles, heightened demand for advanced driver assistance systems, continuous expansion within the automotive industry, and the increasing preference for energy-efficient lighting solutions. Key trends expected in the forecast period encompass advancements in LED driver technology, the integration of smart lighting systems, ongoing evolution of conventional lighting technologies, the development of compact driver solutions, and a surge in collaborative efforts and partnerships within the industry.
The automotive sector's growth is expected to drive the expansion of the automotive LED driver market in the foreseeable future. This sector encompasses various activities, including motor vehicle design, development, manufacturing, marketing, and sales, constituting a vast and dynamic industry with numerous businesses and services involved, from car manufacturers and parts suppliers to dealerships and aftermarket service providers. The automotive sector is on the rise due to the emergence of ride-sharing services, car-sharing platforms, and mobility-as-a-service (MaaS) solutions. Automotive LED drivers play a crucial role in modern vehicles, ensuring the efficient and reliable operation of LED lighting systems for various applications such as headlights, taillights, interior lighting, safety systems, and exterior accent lighting. For example, as reported by the International Organization of Motor Vehicle Manufacturers in 2024, global car and commercial vehicle production rose from 85.10 million in 2022 to 93.55 million in 2023. Additionally, according to the European Automobile Manufacturers' Association (ACEA) in May 2023, global motor vehicle production reached 85.4 million units in 2022, reflecting a 5.7% increase over 2021. Therefore, the growing automotive sector is a key driver behind the automotive LED driver market's growth.
Prominent companies in the automotive LED drivers market are focusing on developing innovative products, such as integrated and flexible automotive LED drivers, to enhance vehicle lighting performance, energy efficiency, and design flexibility. Integrated and flexible automotive LED drivers represent advanced components that improve automotive lighting systems' performance, efficiency, and reliability by integrating multiple functionalities into single-chip solutions and offering adaptable and configurable options. For instance, in June 2021, STMicroelectronics NV, a Switzerland-based semiconductor manufacturing corporation, introduced the ALED6000 single-chip automotive LED driver. These LED driver ICs are tailored for interior and exterior automotive lighting requirements, providing a compact and optimized solution with a range of protection and diagnostic functions. Equipped with features such as on-chip serial peripheral interfaces (SPI) and other specific functionalities, these LED drivers are ideal complements to microcontrollers. They boast advanced functionalities such as embedded DC/DC converters, high power factor, multi-channel configurations, and patented features to enhance LED animation effects and dimming capabilities.
In November 2021, Clarience Technologies, a US-based manufacturer specializing in safety lighting systems, acquired LED Autolamps for an undisclosed sum. This strategic acquisition is aimed at strengthening Clarience's global footprint, particularly in regions such as Australia, New Zealand, and Europe. By integrating LED Autolamps, Clarience aims to cater to the growing global customer base more effectively while offering a broader range of technologies and support services. LED Autolamps, headquartered in Australia, is renowned for its expertise in designing and manufacturing LED auto lamps and drivers specifically tailored for the automotive lighting industry.
Major companies operating in the automotive LED drivers market are Samsung Electronics Co. Ltd., Texas Instruments Inc., STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corp., Microchip Technology Inc., Signify N.V., Rohm Co. Ltd., Maxim Integrated Products Inc., Diodes Incorporated, Monolithic Power Systems Inc., Melexis Technologies NV, Allegro Microsystems LLC, OSRAM GmbH, Power Integrations Inc., Cree Inc., ABLIC Inc., Lumileds Holding B.V., Richtek Technology Corporation, HLI Solutions Inc., ACE LEDS, Xidas IoT Inc.
Asia-Pacific was the largest region in the automotive LED drivers market in 2023. The regions covered in the automotive LED drivers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive LED drivers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive LED drivers market consists of sales of products including headlights, daytime running lights, fog lights, license plate lights, puddle lights, and backup lights. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive LED Drivers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive LED drivers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive LED drivers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive LED drivers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.