Although LED lighting shipments accounted for only 7.7% of the total lighting market in 2015, they are projected to rise to 27.2% in 2020, according to IHS Technology. This growth bodes well for vendors of power supplies and power semiconductors, which are both poised to grow by double-digit rates over the next five years. Growth of power drivers and power supplies
LED lighting consists of two market segments: LED lamps, used in lighting fixtures, and LED luminaires, which are complete fixed lighting fixtures built with all components required for operation. Unlike power drivers in LED lamps, power supplies in LED luminaires are typically external.
Every LED light source requires a power driver or power supply to convert incoming AC power to the proper DC voltage and regulate the current flowing through the LED during operation. LEDs lamps, particularly those designed for residential use, contain internal drivers, rather than separate, external power supplies. Shipments of power drivers and power supplies for LED lighting are predicted to grow from 1.4 billion units in 2015 to 4.5 billion units in 2020.
The LED market is driven by the requirements of applications and uses, which dictates the design of the driver circuit and power ratings. Medium-power drivers, commonly used for applications in in the commercial/retail market, are predicted to make up 53.7% of power driver shipments in 2020. Although low-power drivers for the residential market are projected to make up 44.9% of the shipments in 2020, the relative simplicity of the driver circuit makes it easier for lighting OEMs to keep the manufacturing process in house.