According to Cognitive Market Research, the global LED Lighting Driver market size will be USD 50142.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 9.80% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 20057.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 15042.78 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 11532.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 2507.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1002.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031.
The Driver IC category is the fastest growing segment of the LED Lighting Driver industry
