LCD displays to account for major share in display driver market during forecast period

June 25 19:38 2020

LCD displays are likely to hold a major share in the display driver market 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 on the global display panel market. China is emerging as a leading country in terms of LCD display production due to the closure of several LCD manufacturing facilities by Samsung and LG Display in the last 3 years. This will increase the production of LCD displays and subsequently increase the demand for LCD-based display drivers for a majority of the devices. However, with high competition in the market and disruption in supply–demand ratio, the market for LCD displays is expected to saturate 2020 onward.

 https://www.marketsandmarkets.com/Market-Reports/display-driver-market-60452441.html

[153 Pages Report] 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. A display driver IC controls the current and voltage requirements across the display panel for it to function. The display driver receives image data from timing controller and delivers precise analog voltages or currents to create images on the display. 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 the 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 market to grow at highest CAGR for OLED displays during forecast period

The OLED display driver 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 higher 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 TV. South Korea accounts for more than 95% of total OLED display panel production, owing to which majority of OLED-based display driver demand is emerging from South Korea. With huge investments from Samsung and LG Display in OLED technology and their production expansion, South Korea is expected to dominate the market for OLED displays, in terms of size, during the forecast period.

Small devices to dominate the display driver market, in terms of size, during forecast period

Small devices account for the highest demand of display drivers. Display panels are used in several small devices such as smartphones, automotive displays, tablets, feature phones, industrial displays, small medical devices, camera, and others. Automotive displays are expected to witness positive growth in terms of shipments during the forecast period. Smartphone is one of the leading devices accounting for a majority of the global display drivers market. The market in small devices is expected to be driven by the smartphone segment during the forecast period. Smartphone display panels are produced in the range of 1.5–1.7 billion units yearly. With innovation in display technology (LTPS-LCD and OLED), the rapid adoption of flexible display panels, and the introduction of full-view displays in smartphones, demand for TDDI and COF-based display drivers is expected to increase rapidly in the next 2 years.

China to be the fastest growing market during the forecast period

A majority of display driver demand comes for LCD and OLED displays. These displays are produced in Asia Pacific, especially in countries such as China, South Korea, Japan, and Taiwan. Construction of Gen 6 and above facilities by Chinese players, with government support in terms of finance and land offerings, can have a significant impact on 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 the applications. The increasing adoption of OLED displays by Chinese smartphones vendors, and TV and smart wearable device manufacturers is boosting the demand for OLED display panels in the country also the favorable and cost-effective manufacturing environment in the country is facilitating the increase in the display panel production in China.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/display-driver-market-60452441.html