ID: MRFR/SEM/5846-HCR | 100 Pages | Published By Shubham Munde on April 2023
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 display driver is a semiconductor device. The use of display drivers is prevalent in tablets, mobiles and other electronic devices. The prevalence of these devices is leading to high demand for the display driver market. Many electronics manufacturers use this driver in all their products. There are plenty of benefits of this driver are high in consumer electronics.
Even the display panels in a device need proper voltage to function. The display drivers offer or regulate the right voltage to these panels. The driver is an additional circuit that supports the microprocessors in any device. Today, there are many new types of electronics available in the market. There are smartphones, wearable, laptops and tablets in the display driver market. These devices are having high integration of the display driver chip. The penetration of these driver chips is rising.
LED displays segment of the market is witnessing more demand. The use of LED display drivers is high in recent years. Smart TVs, smartphones, smart watches have the use of LED display drivers. These trends in the market will lead to high growth. All these factors will contribute to immense Display Driver Market Value.
The outbreak of covid 19 is leading to plenty of challenges in the global economy. Many businesses are suffering from the recession. There is a lack of profits in many markets. There are plenty of covid restrictions across the globe. Since the outbreak of covid, there is a slowdown in business in 2020. The lack of funds is prevalent in many markets. There are supply chain disruptions in the display driver market.
Display drivers are crucial components in the electronics market. However, the demand for consumer electronics is facing a decline. The top electronics manufacturer is facing a downfall. Japan and China are hard hit by this covid. The rapid virus spread is causing many challenges to the display driver market. However, since 2021, there is an upsurge in demand. The stores and driver production is rising. In the upcoming years, the demand for display drivers will rise. All these factors will create a positive impact in the next few years.
The expansion of the electronics industry will create more Display Driver Market Demand. The electronics market is rapidly expanding. The demand from the user end is immense for the market. The outbreak of digitalization is owing to the growth of this market. Internet penetration across the world is leading to more electronics purchases. Several electronics devices are having immense demand. Due to these factors, the use of display drivers is high.
Top electronics manufacturers are integrating these display drivers. Further, the demand from the automotive industry is another crucial driver of the display driver market. The automotive market is facing a surge in demand for pricey display drivers. It is an industry that has the highest investment for this market. Especially, the OLED displays have high more need in this market. The use of OLED for smart TVs and other components need OLED.
Further, these 4K and 8 k resolution devices are customers’ preferences. Especially, smartphones users are growing in many regions. Due to the increased disposable income, the purchase of electronics is growing. In many countries, customers demand smartphones are flooding. All these factors contribute to high Display Driver Market Revenue.
Consumer expenditure in media and entertainment will grow. During covid 19, the only entertainment for many is electronics. Through these devices watching series and channels are prevalent. Due to this, the demand for entertainment devices will grow in the next few years. It will create Display Driver Market Growth opportunities. Further, the launch of new devices is creating more growth possibilities. Today, the lifestyle of people is rapidly changing. Many are preferring luxury products.
The launch of luxury electronics will contribute to the display driver market. The high-end OLED devices boost the profits of this market. The growing demand for luxury electronics will contribute to market expansion. Further, rising RD is a factor that will create exceptional growth prospects. Thinner and efficient driver chips will be the outcome of the research. The display driver features are increasing due to extensive market research. Furthermore, the rising investment from the developing nations will continue to create market opportunities. There is high scope for the display drivers in emerging markets. These developments will increase profits in the display driver market.
There is a lack of raw materials in the production of the Display Driver. During this covid 19 periods, there are plenty of challenges for the display driver market. Lack of raw material is a persistent problem. The rising raw material requirement is a restraining factor. However, with the scarcity production rate of this market can slow down.
The decline in production can cause a delay in meeting market demand. The growth of this market is slowing down due to these factors. Further, demand for alternative display drivers is a restriction in the market. Some of the display drivers are less expensive. These cost-effective alternatives can affect the demand of this market.
The high cost is a challenging factor of the display driver market. The display drivers are expensive. They are quality and sturdy drivers that come with plenty of benefits. However, the price is a crucial restraint that can affect both the supply and growth of this market. There are plenty of declines in the demand due to its high cost.
The display drivers are used in the expensive electronics. Already these electronics devices are priced high. With the use, of a high-end display driver the end cost is immense. Due to this, luxury electronics have high use of these drivers. It is a challenge that can affect the display driver market expansion rate.
Display Driver Market Forecast shows positive growth. There are plenty of factors that stir the growth of this market. Digitization is a crucial driver of this market. The need for display drivers is rising due to the high requirement for consumer electronics.
Need for the OLED in devices is another factor that boosts the market growth. Furthermore, the lack of raw materials is a challenge to the market. There is raw material scarcity for the market. Also, high cost is another factor that affects growth. However, there are plenty of growth possibilities such as rising customer investment that will bring favourable changes.
The Asia Pacific holds the highest Display Driver Market Share. The need for display drivers is rising due to the consumer electronics market. The countries such as china and Japan are key manufacturers of electronics. The rising manufacturing activities will increase the integration of this driver.
Further, the investment among key players is high. There are massive investments due to digitization. Also, the supply of raw materials is exceptional in Asia pacific. The major challenge of this display driver market is lack of raw materials. However, there is no concern in the Asia Pacific region. It is a region that will market the highest growth rate in the forecast period.
Display Driver Market Segment Overview
Display Driver Market Competitive Landscape
The competition in the display driver market will increase. There are plenty of acquisitions, mergers and partnerships in the market. New product launches are other developments in the market.
Display Driver Market Regional Analysis
The key regions in the market are Asia Pacific, Europe and North America. The Asia Pacific is a leading region with the highest number of shares. The booming electronics market will witness high demand for the product. Further, china, South Korea and Taiwan will have the highest contributions to the market.
North America is a region that has the highest adoption of display drivers. The investments in the market are higher in the forecast period. Further, Europe is an exceptional market with a high expansion rate. The scope for display drivers is growing in the consumer electronics market. As per Display Driver Market Analysis there are much more developments among regional players.
The key players of the display driver market are
Display Driver Market Report Overview
|Market Size||USD 8.93 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Device, Technology, Package Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Opportunities||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.|
|Key Market Drivers||
The global display driver market is expected to reach USD 8.93 billion by 2023.
The global display driver market is expected to exhibit a strong 7.16% CAGR over the forecast period from 2018 to 2023.
The growing demand for LCD panels in consumer electronics such as mobile phones and TVs is the major driver for the display driver market.
Asia Pacific is expected to dominate the global display driver market.
Leading players in the global display driver market include MediaTek Inc., Raydium Semiconductor Corporation, Silicon Works Co. Ltd., Himax Technologies Inc., Synaptics Inc., Sitronix Technology Corporation, and ROHM Semiconductor, among others.