Lucintel's latest market report analyzed that constant current in the global LED driver provides attractive opportunities in the commercial lighting, residential lighting, architecture, airport and dockyard, healthcare, office, horticulture, and retail applications. The constant current in the global LED driver market is expected to reach $8.7 billion by 2028 with a CAGR of 16.1%. In this market, decorative lamps is the largest segment by luminaire type, whereas commercial lighting is largest by end use industry.
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Based on luminaire type, the constant current in the global LED driver market is segmented into decorative lamps, reflectors, type A lamp, integral LED modules, and others. The decorative lamps segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the growing usage of these lamps in office buildings, restaurants, and casinos as well as for indoor lighting in homes owing to its premium appearance and energy-efficient features.
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The Constant Current in the Global LED driver Market is marked by the presence of several big and small players. Some of the prominent players offering constant current in the global LED driver include Wolfspeed, General Electric, Macroblock, Koninklijke Philips, and Lutron Electronics.
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