The display driver market is expected to register a CAGR of 5% over the forecast period 2022 To 2031. The display driver is mainly a semiconductor integrated circuit that provides an interface function between a microprocessor, microcontroller, ASIC, or general-purpose peripheral interface. These are mostly used in peripheral display devices, such as smartwatches, laptops, monitors, smartphones, tablets, TVs, and automotive displays. Factors, such as growing demand for OLED and flexible display for mobile and tablet devices and rapid adoption of smart wearables and AR/VR devices, are increasing the number of display manufacturers in the Asia-Pacific region and, therefore, driving the display driver across the world.
– Increase demand for wireless fitness devices due to the rise in health awareness among the consumer made the smartwatch as a key monitoring device. These are rapidly being adopted by runners, gym-goers, swimmers, and athletes due to their wide range of monitoring capabilities. In 2019, Apple launched Apple watch series 5 that can track heart rate, nervous system, emergency, or inactivity alerts and health-related events. Due to advancements in technology, major players are developing IoT driven advanced watches to improve a user’s quality of life.
– Tesla introduced a 12.3-inch LCD display (with a resolution of 1280 x 480) that shows the car’s position on the road, the surrounding traffic, lane markings, and speed.
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Key Market Trends
Smartphone to witness significant growth
The display driver market is promptly driven by the development of the smartphone market around the world. Smartphones offer high quality and performance and act like a computer by providing real-time information. They became an integral part of human lives. Short life span due to upgradation of technology at a rapid speed is forcing major players to invest in research to develop and differentiate their offerings with advanced functionality.
For instance, Samsung officially launched its much-awaited “Samsung Galaxy Fold” smartphone in September 2019 that defies the category with a 7.3-inch Dynamic AMOLED display (active-matrix organic light-emitting diode). It is the foldable display that allows users to transform it into a tablet-like device and has six cameras, 21:9 secondary display, and 512GB of onboard storage. Samsung mobile business chief, Koh Dong-jin, at CES told that the company sold between 400,000 to 500,000 Galaxy Fold phones in 2019, which is a pretty good figure for a device that is priced at USD 2,000.
Moreover, the 5G network will offer high speed to download full-length movies in seconds and will spike the demand for 5G enabled smartphones. Hence, companies are investing in developing and designing phones with higher resolution and increased memory capacity so that people can download or play video games on the full-sized console.
Asia Pacific is expected to dominate the market during forecast period
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, the region has a large number of raw material suppliers in addition to low labor costs.
The DDIC market for TVs is experiencing significant demand and supply chain shifts. The companies are ramping up its production capacity to meet better image resolution. Moreover, the increasing competition from Taiwan and Korea-based semiconductor components manufacturers are forced to invest in research and development aimed to improve the capabilities of these ICs. For instance, in 2019, MagnaChip, designer, and manufacturer of analog and mixed-signal semiconductor products for high volume consumer electronics invested USD 75,356 that was attributed to development activities for new OLED products.
Display Driver Market Envisioned to Generate a CAGR of 5% from 2022-2031
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