February 10 2021
Market Research Future published a research report on “Display Driver Market Research Report - Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The growing demand for LCD panels for consumer electronics such as smartphones, tablets, and PC monitors and increasing number of display manufacturers are some of the factors driving the growth of display driver market. Rapid adoption of smart displays in automotive is another factor boosting up the growth of display driver market. Furthermore, rising trends of wearables and AR/VR devices is leading to the demand of OLED and flexible displays which is further creating the demand for display drivers.
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The global display driver market was valued at USD 6.04 billion in 2017 and is expected to reach USD 8.93 billion by the end of forecast period with a CAGR of 7.16%.
The key players in the Display Driver Market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – Samsung Electronics Co., Ltd. (South Korea), Synaptics Inc. (US), Himax Technologies, Inc. (Taiwan), Silicon Works Co., Ltd. (South Korea), Novatek Microelectronics Corporation (Taiwan), Sitronix Technology Corporation (Taiwan), Raydium Semiconductor Corporation (Taiwan), FocalTech Systems Co., Ltd. (Taiwan), MagnaChip Semiconductor Corporation (South Korea), MediaTek Inc. (Taiwan), Fitipower Integrated Technology Inc. (Taiwan), and ROHM Semiconductor (Japan). These players contribute a major share in the growth of display driver market.
Apart from the top key players, there are other players that contribute to the market growth. These include Solomon Systech Limited (Hong Kong), Microchip Technology Inc. (US), Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd. (China), Dialog Semiconductor PLC (UK), SolasOLED LTD. (Ireland), Lucid Display Technology Inc. (South Korea), SINOWEALTH Electronics Ltd. (China), and UltraChip Inc. (Taiwan) and others.
Display Driver Market – Segmentation
By type, the market is segmented into display driver IC and touch display driver integration (TDDI). Display driver IC segment contribute to the largest share of the market while touch display driver integration segment is expected to grow at a higher CAGR during the forecast period. Display driver IC embedded with a capacitive-touch-screen controller is known as touch display driver integration. It is expected to gain prominence lately as more number of display driver vendors are focusing on developing this technology.
By device, display driver IC is segmented into smartphone, tablet, wearable, TV, PC monitor, automotive displays, and others. Smartphone is one of the largest segments contributing to a significant share in the display driver market. Automotive display segment is expected to grow at a significant CAGR during the forecast period owing to factors such as increasing demand for connected vehicles and growing inclination towards advanced technologies. By technology, the market is divided into LCD, OLED, and others. By package type, the market is segmented into Chip-On-Glass (COG) and Chip-On-Film (COF). Adoption of Chip-On-Film package type is expected to increase rapidly during the forecast period.
Global Display Driver Market – Regional Analysis
The Display driver market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of display driver market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the regions mentioned, Asia-Pacific is expected to dominate the display driver market during the forecast period as the majority of market vendors are based out of South Korea, China, and Taiwan. Also, there is a presence of large number of raw material suppliers in Asia-Pacific and low labor cost.
Europe is expected to grow at the highest rate due to growing automobile industry in this region. Many companies are increasing their production for display driver ICs used in automotive displays. For instance, in October 2018, Magnachip Semiconductor, a semiconductor manufacturing company, started its volume production for its latest display driver IC for automotive panel displays. North America is also expected to contribute a significant share to the market due to high readiness for technology adoption in this region.
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