Global Display Driver IC Market Report 2022: Sector to Reach $13.58 Billion by 2027 at an 11.95% CAGR

Rhea-AI Summary

The global display driver IC market is forecasted to grow significantly, reaching US$13.58 billion by 2027, up from US$6.16 billion in 2020, representing a CAGR of 11.95%. Key drivers include rising demand for enhanced display panels in consumer electronics like TVs, laptops, and smartphones. Innovations, such as chip-on-glass technologies, are also contributing to market growth. However, increasing competition and higher production costs may pose obstacles. Notably, Himax Technologies reported US$963.5 million in revenue from small and medium applications in 2021, marking an 86.8% year-over-year increase.

Positive

• Display driver IC market projected to reach US$13.58 billion by 2027, growing from US$6.16 billion in 2020.
• CAGR of 11.95% indicates strong market potential.
• Himax Technologies' revenue for small and medium applications reached US$963.5 million in 2021, growing 86.8% year-over-year.

Negative

• Increasing competition in the display driver IC market could hinder growth.
• Rising production costs may negatively impact profitability.

DUBLIN, March 8, 2023 /PRNewswire/ -- The "Global Display Driver IC Market - Forecasts from 2022 to 2027" report has been added to  ResearchAndMarkets.com's offering.

The global display driver IC market is projected to grow at a CAGR of 11.95% during the forecast period to reach US$13,587.198 million by 2027, from US$6,163.919 million in 2020.

An increase in demand for enhanced display panels from consumers electronics sector is expected to boost the global display driver IC market.

The display driver is increasingly used in large-screen TVs, laptops, tablets, smartphones, and automotive displays that act as an interface between a microprocessor or digital system. The increase in demand for smart TVs, smartphones, laptops, and tablets with enhanced display panels is further increasing the demand for display drive ICs. Moreover, enhanced image quality with a wide range of color gamuts, low power consumption, and reduced picture delay is increasing the demand for display drivers IC.

Furthermore, innovations in display drivers IC by major market players are further boosting the market for display driver IC. For example, the chip-on-glass LCD driver technology by NXP. It is an integrated circuit mounted directly on the display glass with reduced cost and higher flexibility in changing and upgrading the LCD module. Furthermore, demand for small displays increased as a result of an increase in smartphone and tablet consumption. For instance, Himax Technologies Inc, revenues for small and medium-sized applications of display drivers totaled US$963.5 million in 2021 witnessing the highest growth of 86.8% year-over-year.

However, increasing competition among companies to produce and manufacture innovative display driver ICs, and the need for increasing ram capacity for high-resolution displays coupled with rising costs can hinder the growth of the display driver IC market.

Market Developments:

Increased investments, partnerships, and novel launches by major market players and research and development aimed at improving the capabilities of these ICs are also key contributing factors to the market growth. For instance,

• Acer acquired display IC driver supplier FocalTech Systems in April 2021. The acquisition provided Acer with FocalTech System's assistance in securing more display driver IC supplies for its PCs and other products.
• Omnivision launched a new HD 144HZ touch display driver chip for smartphones in January 2022. The product aims to consume less power and support high-pixel high-definition displays to achieve vivid display effects and excellent touch performance.
• Toshiba Electronics Devices AN Storage Corporation added five products to its product line MOSFET gate driver ICs in June 2022. The new products are equipped with an overvoltage lockout duration function and control the gate voltage according to the input voltage. The product is suitable for mobile devices and wearables.

During the forecast period, North America is expected to gain a significant share of the Global Display Driver IC market.

North America is witnessing an increase in demand for display driver IC due to rising disposable income which is increasing the demand for good quality display systems, and new technology in display driver IC by major market players is further increasing the demand for display driver IC. For example, Texas Instruments' common cathode matrix LED display driver provides dot correction, fault detection, LED open detection, and LED short-to-ground Detection with 16 scan line switches and a high-speed clock series interface. Moreover, demand for chip technology drivers witnessed an increase due to compact size, low power consumption, and enhanced display options for a seamless display experience.

Market Segmentation:
By Type

• Gate Driver
• Source Driver

By Display Type

• LCD
• LED
• OLED
• Others

By Display Size

• Small
• Medium
• Large

By Application

• Television Set
• Smartphone
• Laptop
• Tablet
• Automobile Consoles
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• Israel
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Indonesia
• Taiwan
• Others

Key Attributes:

Report Attribute	Details
No. of Pages	142
Forecast Period	2020 - 2027
Estimated Market Value (USD) in 2020	$6163.92 million
Forecasted Market Value (USD) by 2027	$13587.2 million
Compound Annual Growth Rate	11.9 %
Regions Covered	Global

Key Topics Covered:

1. INTRODUCTION

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

5. GLOBAL DISPLAY DRIVER IC MARKET, BY TYPE

6. GLOBAL DISPLAY DRIVER IC MARKET, BY DISPLAY TYPE

7. GLOBAL DISPLAY DRIVER IC MARKET, BY DISPLAY SIZE

8. GLOBAL DISPLAY DRIVER IC MARKET, BY APPLICATION

9. GLOBAL DISPLAY DRIVER IC MARKET, BY GEOGRAPHY

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

11. COMPANY PROFILES

Companies Mentioned

• Synaptics Incorporated
• LAPIS Semiconductor Co., Ltd.
• SILICON WORKS
• Himax Technologies, Inc
• Novatek Microelectronics Corp
• Magnachip Semiconductor
• Sitronix Technology Corporation
• ILITEK
• LX Semicon

For more information about this report visit https://www.researchandmarkets.com/r/2awtqj

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-display-driver-ic-market-report-2022-sector-to-reach-13-58-billion-by-2027-at-an-11-95-cagr-301765628.html

SOURCE Research and Markets

FAQ

What is the projected growth of the display driver IC market by 2027?

The display driver IC market is projected to reach US$13.58 billion by 2027.

What was Himax Technologies' revenue from small and medium display driver applications in 2021?

Himax Technologies reported revenues of US$963.5 million for small and medium-sized applications in 2021.

What factors are contributing to the growth of the display driver IC market?

Key factors include increased demand for enhanced display panels in consumer electronics and innovations in display driver technology.

What are the potential challenges facing the display driver IC market?

Challenges include increasing competition among companies and rising production costs.