According to a new market research report published by Transparency Market Research the global display driver IC market is expected to reach value of US$ 6,842.2 Mn by 2027, expanding at a CAGR of 8.0% from 2019 to 2027. Asia Pacific is likely to continue to lead the global market, with the market in the region expanding at a CAGR of 8.7% between 2019 and 2027.
Increasing demand of OLED displays driving the global display driver IC market
As the OLED display technology and its manufacturing process have become mature, more and more applications have adopted OLED as smart displays. In addition, as self-emissive OLED displays come with a wide range of operating temperatures, they are suitable for use in outdoor applications, even under severe climatic conditions. Several manufacturers are using OLED displays in smartphones, TV sets, etc. For instance, Apple has switched from LCD panels to OLED panels for its next generation of iPhones. As the demand for OLED displays continues to rise, Taiwan-based manufacturers are adjusting their business structures so as to achieve increased production. Several companies, such as AU Optronics and Novatek Microelectronics, are expecting a substantial boom in OLED sales.
Global Display Driver IC Market: Scope of Report
The global display driver IC market has been broadly segmented in terms of display technology, application, end-use industry, and geography. In terms of display technology, the market has been classified into LCD, LED, OLED, and others. Among these, the LED segment accounted for a major share of 44.1% in 2018. The segment is expected to expand at a significant CAGR of 8.7% during the forecast period.
Based on application, the global display driver IC market has been divided into mobile phones, televisions, laptops, tablets, smart watches, automobile consoles, and others (including wearable devices and video walls). In terms of end-use industry, the global market has been classified into consumer electronics, healthcare, automotive, and others. In 2018 the consumer electronics segment accounted for a prominent market share. The segment is estimated to expand at a significant CAGR of 8.6% during the forecast period.
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Based on region, the global display driver IC market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is anticipated to hold a leading share of the global market during the forecast period, followed by North America and Asia Pacific. This is primarily due to technological advancements in the region.
Furthermore, presence of a large number of manufacturers of display panels in North America has made it another prominent region of the global display driver IC market. Moreover, the market in Asia Pacific is projected to expand rapidly between 2019 and 2027, due to ongoing technological innovations in display driver technologies, such as QLED and OLED, in the region. The market in Middle East & Africa is estimated to witness moderate growth from 2019 to 2027. The market in South America is expected to witness sluggish growth during the forecast period.
Attracted by the anticipated growth of the global display driver IC market and underlying latent demand, several players are expanding their business through strategic mergers and acquisitions as well as partnerships. For instance, in January 2017, Novatek Technology acquired Faraday Technology’s surveillance business.
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This acquisition enhanced the technology competitiveness of Novatek’s imaging SOC and IP cameras. Some of the prominent players operating in the global display driver IC market are Samsung Electronics, Novatek Microelectronics (U.S.), Himax Technologies, Silicon Works, Sitronix Technology, Raydium Semiconductor, Magnachip Semiconductor, MediaTek, and ROHM Semiconductor.