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Global Display Driver IC Market to Witness a CAGR of 2.88%
May 29, 2019 | Business WireEstimated reading time: 1 minute
Display driver IC market is projected to witness a CAGR of 2.88% during the forecast period to reach a total market size of $5,343.909 million by 2023, increasing from $4,506.245 million in 2017.
The growth of this market is being driven by rapidly increasing demand for displays for a wide range of applications. Growth of industries like retail, consumer electronics, media and entertainment, automotive and others is fuelling the demand for displays for wide range of applications by key industry players.
As display manufacturers continue to boost investments into scaling up of existing and expansion of manufacturing facilities in new regions, the demand for display driver ICs will continue to witness a significant upward demand. In addition, rising disposable income across many regions is accelerating the adoption of high quality display solutions by the consumers.
Higher investments by major market players into research and development aimed at improving the capabilities of these ICs is also a key contributing factor to the market growth. As the aligned markets continue to grow, the adoption of these advanced display driver ICs will increase, which will drive the demand for these ICs over the projected period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations being implemented by the relevant agencies. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research.
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