The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, Dec. 11, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s display driver global market report 2023, the global display driver market is poised for significant expansion, forecasted to escalate from $7.84 billion in 2022 to $8.44 billion in 2023, showcasing a robust Compound Annual Growth Rate (CAGR) of 7.7%. Looking ahead, the display driver market is anticipated to achieve $10.9 billion by 2027, maintaining a steady CAGR of 6.6%.

Rising Demand for Smartphones: A pivotal force steering the growth of the display driver market is the escalating demand for smartphones worldwide. With 71.8 million mobile connections in the UK at the start of 2022, the smartphone surge is evident. As the UK's mobile connections surpass the total population, and projections anticipate 65 million smartphones by 2025, the market's upward trajectory is substantiated by the indispensable role display drivers play in facilitating communication between processors and graphics hardware.

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Major Players Shaping the Market: The display driver market is influenced by a consortium of major players, including Sony Corporation, Lenovo Group Limited, Nvidia Corporation, and Samsung Electronics Co. Ltd. These industry leaders contribute to shaping the market dynamics and propelling its overall growth.

Technological Advancements in Focus: A prominent trend in the display driver market is the impetus towards technological advancements. Leading companies such as OmniVision Technologies Inc. are driving innovation, launching products like the TD4377 TDDI, integrating touch and display driver functionalities. This technological leap offers enhanced resolution, increased screen image rates, and improved touch sensitivity, underscoring a commitment to pushing the boundaries of display technology.

Strategic Acquisitions Fueling Progress: In August 2021, Renesas Electronics Corporation's strategic acquisition of Dialog Semiconductor Plc for $5.7 billion exemplifies the industry's evolution. This move broadens and diversifies Renesas's portfolio, fostering new market strategies and seamless services for customers. Dialog Semiconductor Plc's expertise in display drivers and evaluation kits aligns with the market's trajectory.

Asia-Pacific as the Epicenter: Asia-Pacific emerged as the largest region in the display driver market in 2022 and is poised to be the fastest-growing region in the forecast period. This regional dominance underscores the global nature of the market's growth.

In-Depth Market Segmentation: The display driver market's segmentation across type, display technology, package type, and application provides nuanced insights. From Display Driver Integrated Circuits (IC) to Chip-On-Glass packaging, each segment contributes uniquely to the market's burgeoning landscape.

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Industry players can harness the insights provided in this comprehensive display driver market report to make informed decisions, navigate technological trends, and capitalize on growth opportunities. As the display driver market evolves, strategic planning informed by this report becomes an indispensable tool for businesses aiming to position themselves for success in a dynamically expanding market.

Display Driver Global Market Report 2023 by The Business Research Company provides insights on the display driver market size, display driver market segments, display driver market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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