I didn't post very clearly, what I meant was that they are in parallel groups of LED's that are in series, bringing each of the strings close to the supply voltage, then adding a very small dropping resistor to set the current suitable to the supply voltage. The resistor also acts as a sacrificial part, incase the string shorts, leaving the rest of the strings working. Some of the modules I have used contain a switching PWM supply, some only have a plain LM78xx regulator, depends on the supply voltage available, and the features required. If the supply is well controlled or has the PWM circuitry, less complex modules are used.
Modules designed for the highest efficiency are usually driven by a PWM supply, carefully designed to drive the LED's as hard as possible to get maximum brightness, yet lowest average power consumption, and longest life. They usually last about 5 years. One of the most common ones I use draws about 40mA average, for an array of 39 LED's, and is equivalent in brightness to a standard 69 Watt high output traffic lamp.