Display driver IC market to grow by USD 3.793 billion from 2022 to 2027; The increasing penetration of smart devices drives growth - Technavio
NEW YORK, Aug. 18, 2023 /PRNewswire/ -- The display driver IC market is set to grow by USD 3,793.03 million from 2022 to 2027 progressing at a CAGR of 8.66% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing penetration of smart devices. Smart devices include smartphones, tablets, laptops, smart TVs, streaming media players, and other multimedia devices. Various developing economies like APAC, the Middle East, Africa, and South America are having high growth in the penetration of smart devices. Many factors such as economic growth, increasing literacy rate, and rising purchasing power are boosting the demand for smartphones and other devices. Hence, such factors drive the display driver IC market during the forecast period. -Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and the forecast period (2023-2027). Download Sample Report in minutes!
The display driver IC market covers the following areas:
The report on the display driver IC market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
Display Driver IC Market 2023-2027: Market Dynamics
The growing M&A activities are an emerging display driver IC market trend. To dominate their presence in the market, several vendors of display driver IC. For instance, vendors such as Renesas and Infineon Technologies are implementing certain inorganic strategies, such as M&A. Such product launches and M&A are expected to increase the competition in the market. Hence, such trends fuel the growth of the display driver IC market during the forecast period.
The miniaturization of electronic devices challenges the growth of the display driver IC market. This is due to the increase in the miniaturization of semiconductor electronic devices. To reduce the board space, manufacturers are compelled to embed over 30 different high- and low-voltage circuits and analog functions in a single chip. Resultantly, it tends to increase the manufacturing cost. Hence, vendors are forced to constantly upgrade their offerings with more advanced and compact ICs to cater to consumer requirements. Hence, such challenges impede the market growth of the display driver ICs during the forecast period.
Display Driver IC Market 2023-2027: Market Segmentation
This display driver IC market report extensively covers market segmentation by type (gate driver and source driver), display Size (small, medium, and large), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
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Key Topics Covered:
1 Executive Summary
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