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Display Driver Market to Witness Highest Growth during 2018 to 2023

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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Display Driver Market to Witness Highest Growth during 2018 to 2023

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