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Display Driver Market Analysis
The global display driver market will touch USD 13.97 billion at a 7.16% CAGR by 2032, as per the recent Market Research Future report.
Drivers
Growing Demand for OLED Displays to Boost Market Growth
The growing demand for OLED displays will bolster market growth in the forecast period for the growing need for display driver ICs that offer high-performance. Owing to its increasing use in various smart devices like smart TVs, wearables (VR/AR HMDS, and smart watches), and smartphones, the demand for flexible displays and OLED automatically is on the rise.
Opportunities
Extension of Electronic Industry to offer Robust Opportunities
The extension of the electronic industry will offer lucrative opportunities for the display driver market over the forecast period. With a surge in digitalization and internet penetration, the need for various forms of electronic gadgets has gone up. The rising need for the display drivers is developing in parallel with the burgeoning need for displays.
Restraints and Challenges
High Cost to act as Market Restraint
The high cost of software & interface solution, falling volumes of shipments, and dearth of adequate raw materials for production may act as market restraints over the forecast period.
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Key Players
Eminent market players profiled in the global display driver market report include
Market Segmentation
The global display driver market is bifurcated based on package type, technology, device, and type.
By type, display driver IC will lead the market over the forecast period.
By device, smartphone will domineer the market over the forecast period.
By technology, OLED will spearhead the market over the forecast period.
By package type, chip-on-film will spur the market over the forecast period.
COVID-19 Analysis
The COVID-19 epidemic had a negative effect on the display driver market due to supply chain disruptions, closure of manufacturing facilities, and change in consumers spending patterns with remote learning and working trends. With the surge in online activities and remote work, there has been a burgeoning need for displays in monitors, tablets, and laptops that propelled market growth. Besides, the shift towards 5G and creation of new display technologies like Mini-LED and OLED continued to propel the demand for the latest display driver ICS.
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Regional Analysis
North America to Head Display Driver Market
North America will head the display driver market in the forecast period for the growing demand for laptops, smartphones, and other forms of electronic gadgets. Besides, increase in manufacturing activities is also propelling market growth in the region.
APAC to Have Admirable Growth in Display Driver Market
The APAC region will have admirable growth in the display driver market over the forecast period. For catering to the global demand, the maximum screens are made in this region. The growth of this market in nations such as Taiwan, Japan, South Korea and China have propelled market growth for the favorable government support to grant land access, encourage industrialization, and also fund loans.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
