The global LED backlight display driver ICs market is anticipated at USD 2.1 billion in 2022. Demand is likely to remain high for LED backlight display driver ICs during the assessment period. this is due to the rising application across various end-use industries and garnering USD 2.2 billion in 2033, recording a CAGR of 5.2% from 2023 to 2033. The market is likely to secure USD 3.7 billion in 2023.
| Data Points | Kay Statistics |
|---|---|
| LED Backlight Display Driver ICs Market Size Value in 2023 | USD 2.2 billion |
| LED Backlight Display Driver ICs Market Forecast Value in 2033 | USD 3.7billion |
| Global Growth Rate | 5.2% |
| Forecast Period | 2023 to 2033 |
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| Attribute | Details |
|---|---|
| Historical CAGR (2018 to 2022) | 7.0% |
| Forecasted CAGR (2023 to 2033) | 5.2% |
he LED backlight display driver ICs market is expected to witness healthy growth led by increasing adoption of these driver ICs in mobile devices, Televisions, Automotive Displays, Laptops, and Desktop Monitors, among Others. Increasing applications in automotive, consumer electronics, and other industries spur the demand for LED backlight display driver IC.
The increasing demand for high-resolution picture quality in televisions and demand for power-efficient displays is on the rise, which is likely to spur the market for LED backlight display driver IC. The LED backlight display driver ICs market is projected to show a noteworthy growth of USD 3.7 billion by the end of the forecast period of 2033.
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The Rapid Technological Advances in Consumer Electronics Drive the Growth of the Market
LED backlight display driver ICs are used in various electronic devices as they provide power and control signals to the LED backlighting, enabling optimal illumination and brightness control for the screens. These ICs also support features like adaptive brightness control and power-saving modes to enhance the user experience and optimize power consumption.
The increasing demand for various electronic devices and increased demand for high power density and increasing demand for energy-efficient electronic devices drive the market growth. LED backlight display driver ICs are also employed in a range of other consumer electronics devices, including e-readers, portable media players, digital photo frames, home appliances with displays, and more. They enable high-quality and energy-efficient displays across various devices in the consumer electronics market.
Increasing Application in Automotive Displays to Spur the Market Demand
The LED backlight display driver ICs are used in various applications in the automotive industry in automotive displays, including instrument clusters, infotainment systems, heads-up displays (HUDs), and rear-seat entertainment systems. These ICs ensure proper backlighting and brightness control for improved visibility and user experience within the vehicle.
These ICs contribute to enhanced visual experiences, power savings, and improved user interfaces across many applications. In touch screen, displays LED backlight display driver plays an important role in controlling the backlighting of the displays and makes them more visible & readable. Increasing demand for automotive infotainment is likely to boost the growth of the LED backlight display driver ICs market during the forecast period.
Increasing Demand for LED Backlight Display Driver ICs from Various Industries to Drive Market Growth in The United States
The global LED backlight display driver ICs market is expected to be dominated by North America. The market is anticipated to expand at a CAGR of 5.1% and is expected to accumulate a market value of USD 651.4 million over the forecast period.
The United States is the leading market for LED Backlight Display Driver ICs with increasing demand for high-quality displays in various applications such as televisions, monitors, smartphones, automotive displays, and industrial displays.
The presence of well-established semiconductor manufacturers in the region and increasing research & development activities provide opportunities for market growth Growing environmental concerns and increased demand for energy-efficient systems also spur the growth of the LED backlight display driver ICs market
Growing Consumer Electronics in the Region Drive the Growth of the Market in China
China’s LED backlight display driver ICs market is expected to rise at 5.2% CAGR between 2023 to 2033. The market is expected to gain a market value of USD 902 million by the end of the forecast period.
The rapid growth of the consumer electronics sector in China due to the rise in population and growing industrialization is expected to drive market growth. The presence of well automotive infotainment manufacturers in the region also boosts the growth of the market
Growing Technological Advances to Boost the Growth of the Market in the United Kingdom
LED backlight display driver ICs sales in the United Kingdom are expected to keep rising with a CAGR of 4.8% and are expected to gain a market value of USD 130.1 million by the end of the forecast period.
Increasing demand for energy-efficient electronic devices and growing technological advances to drive the growth of the LED backlight display driver ICs sales in the United Kingdom. With the high usage of consumer electronics products, the demand for LED backlight display driver ICs has risen dramatically in recent years. Increasing use of LED instruments in many industries pushing the sales of the LED backlight display driver ICs.
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Mobile Devices Segment to Gain Significant Traction During the Forecast Period
Based on application, the LED backlight display driver ICs market is segmented into mobile devices, television, automotive displays, and laptop & desktop monitors segments. The mobile devices segment is expected to dominate the market in the forecast period. The segment is projected to exhibit a CAGR of 5.1% during the forecast period.
LED backlight display driver ICs provide the necessary power and control signals to illuminate the display panel in mobile devices. LED backlight display driver ICs enable precise dimming and brightness control of the display backlight. LED backlight display driver ICs are essential components in mobile devices
The Consumer Electronics Segment Generates High Revenue
Based on the end-user, the market is segmented into consumer electronics, automotive & industrial segments. Among all these consumer electronics segments remains the end-use category is expected to expand with a CAGR of 4.8% throughout the forecast period.
The increasing application of LED backlight display driver ICs in various consumer electronics devices such as smartphones, tablets, gaming consoles, cameras, and televisions and increasing demand for energy-efficient consumer electronics goods is expected to boost the growth of the segment during the forecast period. On the other hand, the electronics segment accounts for a significant share of the market
New players in the LED backlight display driver ICs market are Macroblock Inc, and Princeton Technology Corp. among others, are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance
Prominent players in the LED backlight display driver ICs market are Panasonic Corporation; Infineon Technologies AG; NXP Semiconductors NV; Cypress Semiconductor Corporation; Analog Devices, Inc. among others
The key players in the LED backlight display driver ICs market are focusing on improved productivity and quality of their products in order to gain more customer base. Key players are working on research & development activities for the effective composition of the material that is to be used for manufacturing. Other expansion strategies of key players include extensive research & development activities, collaborations, and mergers & acquisitions.
Some notable developments are as follows:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.2% from 2023 to2033 |
| Market Value in 2023 | USD 2.2 billion |
| Market Value in 2033 | USD 3.7 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Application, End-Use, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Panasonic Corporation; Infineon Technologies AG; NXP Semiconductors NV; Cypress Semiconductor Corporation; Analog Devices, Inc. |
North America is projected to emerge as a lucrative market.
The growth potential of the global market is 5.2% through 2033.
The high cost of adoption is likely to limit market growth.
The United States is likely to secure a CAGR of 5.1% in 2023.
The market is estimated to secure a valuation of USD 3.7 billion in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 5.1. Mobile Devices 5.2. Televisions 5.3. Automotive Displays 5.4. Laptops and Desktop Monitors 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 6.1. Consumer Electronics 6.2. Automotive 6.3. Industrial 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Panasonic Corporation 15.2. Infineon Technologies AG 15.3. NXP Semiconductors NV 15.4. Cypress Semiconductor Corporation 15.5. Analog Devices 15.6. Analog Devices, Inc. 15.7. Maxim Integrated Products, Inc. 15.8. Microchip Technology, Inc. 15.9. Melexis NV 15.10. Elmos Semiconductor SE 16. Assumptions & Acronyms Used 17. Research Methodology
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LED Backlight Display Driver ICs Market
