The global display driver market is projected to grow at a modest CAGR of over 4% during the forecast period (2021-2027). The current and voltage requirements across the display screen are controlled by a display driver IC. The display driver gets picture data from the timing controller and creates images on the display by delivering exact analog voltages or currents. The market is expanding as a result of the rising demand for OLED and flexible displays, as well as the adoption of high-cost, advanced display drivers and the expansion of the automotive display market. The market for display driver ICs is growing due to the increased use of 4K and 8K televisions, as well as the availability of UHD content and the rising role of DDICs in individual components and single integration chips. 

Factors such as rising demand for OLED and flexible displays for mobile and tablet devices, as well as the rapid adoption of smart wearables and AR/VR devices, are boosting the number of display manufacturers in the Asia-Pacific region and, as a result, driving the global display driver market.

Impact of COVID-19 Pandemic on Global Display Driver Market

COVID-19 pandemic led to a negative impact on the growth of the global display driver market. The spread of Covid-19 has had an impact on manufacturing and building activity all over the globe. For producers, logistical constraints and rethinking raw material requirements are becoming a concern. To rationalize production, the producers have relied on derived demand as an intermediary commodity. The economic impact of the epidemic on businesses and financial markets is likewise unfavorable. The market is expected to be affected by stock market volatility and slowing global growth. Supply and development are halted, resulting in losses for suppliers, dealers, and customers alike. 

Segmental Outlook

The global Display Driver market is segmented based on driver type and device. Based on the driver type, the market is segmented as Display Driver IC (DDIC), Touch and Display Driver Integration (TDDI) Among driver types, DDIC is anticipated to hold a considerable share during the forecast period 2021-2027. Based on devices, the market is segmented into a smartphone, tablet, wearable, TV, automotive display, and others. Among these, the smartphone segment is anticipated to hold a lucrative share in the market during the forecast period. Smartphones provide high-quality and high-performance information and operate as a computer by supplying real-time data. They've become an inseparable part of people's lives. Due to the rapid advancement of technology, big firms are being forced to engage in research to enhance and differentiate their offers with increased capabilities. For instance, in September 2019, Samsung unveiled its much-anticipated "Samsung Galaxy Fold" smartphone, which defies the category with a 7.3-inch Dynamic AMOLED display (active-matrix organic light-emitting diode). It boasts six cameras, a 21:9 secondary display, and 512GB of onboard storage, as well as a folding display that allows users to convert it into a tablet-like gadget. 

Global Display Driver Market Share by Device, 2020 (%)

Wearable Segment Exhibits Significant Growth in the Market

Based on devices, the market is segmented into smartphone, tablet, wearable, TV, automotive display, and others. Among these, the wearable segment is anticipated to exhibit lucrative growth in the market during the forecast period. Because of the increased demand for wireless fitness gadgets as a result of increased consumer health awareness, the wristwatch has become a vital monitoring device. In addition, owing to the extensive monitoring capabilities of wristwatches, these are quickly becoming popular among runners, gym-goers, swimmers, and sports. For instance, Apple Watch Series 5 was released in 2019, and it can measure heart rate, nervous system, emergency, or inactivity alerts, as well as health-related events. Major players are producing IoT-driven sophisticated timepieces to increase a user's quality of life as a result of technological improvements.

Regional Outlook

The global display driver market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America held a major market position in the global display driver market in 2020. The well-developed infrastructure and high implementation of advanced technologies are some of the key factors driving the growth of the regional market.

Global Display Driver Market Growth by Region 2021-2027

Market Players Outlook

Some of the prominent players operating in the global display driver market include Media Tek Inc., Rohm Semiconductor Co. Ltd., Novatek Microelectronics Corp., Synaptics Inc., and Samsung Electronics Co.  Ltd. among others. These key manufacturers are adopting various strategies such as new product launches and approvals, mergers and acquisitions, partnerships and collaborations, and many others to thrive in a competitive environment. For instance, Cadillac unveiled the 2021 Escalade in February 2020, a car with the world's first curved OLED screen, a gigantic 38-inch display that houses LG's P-OLED Digital Cockpit Solution. The car information and entertainment system are shown using the all-new software. LG worked with Tesla, Cadillac, and Mercedes in 2018 to develop a flexible display, and by the end of 2020, it will be available in Mercedes-Benz vehicles.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global display driver market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where in the market.