The display
driver market is
estimated to grow from USD 7.1 billion in 2018 to USD 9.1
billion by 2023, at a CAGR of 5.1%
between 2018 and 2023. The market is growing due to the increasing demand for OLED and flexible displays, adoption of highly
priced and advanced display drivers, and growth in automotive display market.
Growth in the use of 4K and 8K televisions and availability of UHD content, and
evolving role of DDICs in individual components and single integration chips
also drive the growth of the market for display driver ICs.
Display driver solution providers are
closely watching the display panel market to establish growth strategies mainly
because of emerging display technologies such as micro-LED and true quantum
dot, which will play crucial role in the display panel market in far future. Having
a broader product portfolio catering to specific customer needs for OLED and
LTPS displays, specific display devices, display panel size, touch displays,
color gamut, and others is the major strategy following by the leading players
in display driver market. Companies have continuously launched new products or
expanded their existing product capabilities to stay ahead in highly
competitive market. Acquiring new customers and establishing manufacturing
capabilities in customer proximity has also been the major focus of leading
display driver solution suppliers.
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The OLED display panel market is expected
to grow rapidly during the forecast period, which will eventually increase the
demand for high-performance display driver ICs and subsequently drive the
market toward high growth. OLED and flexible displays are trending in the
display market due to their increasing adoption in smart devices such as smartphones,
wearables (smartwatch, AR/VR HMDs), and smart TVs. South Korea accounts for
more than 95% of the total OLED display panel production, owing to which demand
for a majority of OLED-based display drivers is emerging from South Korea. With
huge investments from Samsung and LG Display in the OLED technology and their
production expansion, South Korea is expected to dominate the display driver
market for OLED displays, in terms of size, during the forecast period.
The display driver market for wearable
devices (smartwatches and AR/VR HMDs) is expected to grow at the highest CAGR
between 2018 and 2023. Wearables have emerged as a new driving segment in the
global display panel market and are used in applications such as consumer,
infotainment, military, fitness and gaming, industrial, lifestyle, and
healthcare. Demand for smart wearables, especially the AR/VR HMDs, is expected
to increase rapidly during the forecast period and subsequently boost the
display driver market.
Demand for a majority of display drivers
comes for LCD and OLED displays. These displays are produced in Asia Pacific,
especially in China, South Korea, Japan, and Taiwan. A large number of
operations related to LCD displays are being shifted to Mainland China owing to
favorable government policies and low cost associated with logistics operations
concerning the delivery of end products in the display panel market. As Samsung
and LG Display are forgoing a part of their LCD display panel manufacturing
operations in favor of OLED display panels, it is expected to create a void in
the LCD display panel market. Chinese players such as CSOT, BOE Technology, and
Tianma Micro-electronics attempt to fill this void by opening new LCD display
panel manufacturing plants in China. These factors are expected to contribute
to high growth of the display driver market in China during the forecast
period. Construction of Gen 6 and above facilities by Chinese players, with
government support in terms of finance and land offerings, can have significant
impact in the global display panel market. This will increase the production of
LCD and OLED displays in China and subsequently increase the demand for display
drivers for a majority of applications.
The construction of new OLED and LCD panel
manufacturing facilities, development of display drivers based on chip-on-film
packages, and innovations in TDDI-type display drivers are the major
opportunities in front of display driver manufacturers. Smartphone, television,
automotive, and smart wearable segments are expected to offer growth
opportunities to display driver manufacturers in the market. Increasing demand for display panels
with high resolution, fast response time, and better picture quality is
expected to influence the display driver market toward major innovations and
subsequently significant growth. Display driver
solution providers are closely watching the display panel market to establish
growth strategies mainly because of emerging display technologies such as
micro-LED and true quantum dot, which will play crucial role in the display
panel market in future.
Browse 36 market data Tables and 77
Figures spread through 153 Pages and in-depth TOC on "Display
Driver Market - Global Forecast to 2023"
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