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.
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