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Display Driver IC Market is projected to expand at a CAGR of 8.0% during the forecast period
According to a new market research report published by Transparency Market Research the global display driver IC market is expected to reach value of US$ 6,842.2 Mn by 2027, expanding at a CAGR of 8.0% from 2019 to 2027. Asia Pacific is likely to continue to lead the global market, with the market in the region expanding at a CAGR of 8.7% between 2019 and 2027.Report Details- https://www.transparencymarketresearch.com/display-driver-ic-market.html
Increasing demand of OLED displays driving the global display driver IC market
As the OLED display technology and its manufacturing process have become mature, more and more applications have adopted OLED as smart displays. In addition, as self-emissive OLED displays come with a wide range of operating temperatures, they are suitable for use in outdoor applications, even under severe climatic conditions. Several manufacturers are using OLED displays in smartphones, TV sets, etc. For instance, Apple has switched from LCD panels to OLED panels for its next generation of iPhones. As the demand for OLED displays continues to rise, Taiwan-based manufacturers are adjusting their business structures so as to achieve increased production. Several companies, such as AU Optronics and Novatek Microelectronics, are expecting a substantial boom in OLED sales.
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Global Display Driver IC Market: Scope of Report
The global display driver IC market has been broadly segmented in terms of display technology, application, end-use industry, and geography. In terms of display technology, the market has been classified into LCD, LED, OLED, and others. Among these, the LED segment accounted for a major share of 44.1% in 2018. The segment is expected to expand at a significant CAGR of 8.7% during the forecast period. Based on application, the global display driver IC market has been divided into mobile phones, televisions, laptops, tablets, smart watches, automobile consoles, and others (including wearable devices and video walls). In terms of end-use industry, the global market has been classified into consumer electronics, healthcare, automotive, and others. In 2018 the consumer electronics segment accounted for a prominent market share. The segment is estimated to expand at a significant CAGR of 8.6% during the forecast period.
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Based on region, the global display driver IC market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is anticipated to hold a leading share of the global market during the forecast period, followed by North America and Asia Pacific. This is primarily due to technological advancements in the region. Furthermore, presence of a large number of manufacturers of display panels in North America has made it another prominent region of the global display driver IC market. Moreover, the market in Asia Pacific is projected to expand rapidly between 2019 and 2027, due to ongoing technological innovations in display driver technologies, such as QLED and OLED, in the region. The market in Middle East & Africa is estimated to witness moderate growth from 2019 to 2027. The market in South America is expected to witness sluggish growth during the forecast period.
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Global Display Driver IC Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global display driver IC market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Key players operating in the global market are Samsung Electronics, Novatek Microelectronics (U.S.), Himax Technologies, Silicon Works, Sitronix Technology, Raydium Semiconductor, Magnachip Semiconductor, MediaTek, and ROHM Semiconductor. Companies are focusing on expanding their business through acquisitions and strategic partnerships.
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About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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