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Display Driver Global Market Size, Revenue, Growth, Industry Insights, Regional Analysis and Forecast Till 2033
Display Driver Global Market
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According to The Business Research Company's, The display driver market size has grown strongly in recent years. It will grow from $8.44 billion in 2023 to $9.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing demand for electronic devices, rise of portable consumer electronics, market shift to higher resolution displays, demand for energy-efficient displays, regulatory standards and compliance.
The display driver market size is expected to see strong growth in the next few years. It will grow to $11.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to integration of advanced oled and microled displays, growing adoption of augmented reality (ar) and virtual reality (vr), demand for higher refresh rates and hdr support, transition to automotive display applications, focus on energy-efficient solutions. Major trends in the forecast period include miniaturization and integration, enhanced power efficiency, multi-protocol support, standardization and compatibility, continuous performance enhancement.
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Market Drivers and Trends:
The rising demand for smartphones is expected to propel the growth of the display driver market going forward. Smartphones are portable electronic devices that let users browse the internet, send text messages, and make phone calls. Smartphones require display drivers to convert digital information from the processor into signals that facilitate communication between the phone's operating system and the graphics hardware, such as the graphics processing unit (GPU) or integrated graphics chip. For instance, in February 2023, according to the Office of Communications, a UK-based intergovernmental organization, there were 71.8 million mobile connections in the UK at the beginning of 2022, representing a rise of 3.8% from 2021 (about 2.6 million) and 4.2 million higher than the country's total population. Further, by 2025, 65 million out of the 68.3 million people in the UK will have smartphones. Therefore, the rising demand for smartphones is driving the growth of the display driver market.
Technological advancements are a key trend gaining popularity in the display driver market. Major companies operating in the display driver market are developing new technologies to sustain their position in the market. For instance, in January 2022, OmniVision Technologies Inc., a US-based semiconductor manufacturing company, launched a new TD4377 TDDI (touch and display driver integration) product for cell phones, including TDDI technology. This product offers LCD and touch solutions with 1080-pixel full high definition (FHD) resolution, up to a 144 Hz screen image rate, and a touch reporting rate that doubles the screen speed. They allow the LCD module to produce screens with excellent touch sensitivity and rich, vivid colors while lowering module prices and improving production efficiency.
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Major Key Players of the Market:
Sony Corporation,Lenovo Group Limited, Panasonic Corporation, LG Electronics Inc., Haier Group Corporation, Hisense Group,Nvidia Corporation, Advanced Micro Devices, Samsung Electronics Co. Ltd., Sharp Corporation, Koninklijke Philips N.V.,MediaTek Inc., AsusTek Computer Inc., Acer Inc., TCL Electronics, Microchip Technology Inc., Rohm Semiconductor, Novatek Microelectronics Corp., Vizio Inc., Synaptics Incorporated, Himax Technologies Inc., Fitipower Integrated Technology Inc., Raydium Semiconductor Corporation, Silicon Works Co. Ltd., FocalTech Systems Co. Ltd., Magnachip, SINOWEALTH Electronic Ltd., Solomon Systech (International) Limited , UltraChip Inc., Sitronix Technology Corporation.
Display Driver Market 2024 Key Insights:
• The display driver market size is expected to see strong growth in the next few years. It will grow to $11.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Smartphone Boom Ignites Surge In Display Driver Market
• Introduction Of The Latest Technological Advancements In The Display Driver Market
• Asia-Pacific was the largest region in the display driver market in 2023, and is expected to be the fastest-growing region in the forecast period
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