Global LED Backlight Display Driver ICs Market to Reach $2.5 Billion by 2026

Amid the COVID-19 crisis, the global market for LED Backlight Display Driver ICs estimated at US$2.1 Billion in the year 2022, is projected to reach a revised size of US$2.5 Billion by 2026, registering a compounded annual growth rate (CAGR) of 5.3% over the analysis period.

China represents the largest regional market for LED Backlight Display Driver ICs, and is projected to reach US$800 Million by 2026, growing at a CAGR of 5.7% over the analysis period. The market is witnessing healthy growth led by increasing adoption of these driver ICs in mobile computing devices, televisions and automotive infotainment devices. Increasing demand for smartphones, tablets and 2-in-1 notebooks is expected to provide a boisterous impetus to the growth of the market. Moreover, rising demand for high resolution picture quality and power-efficient displays fuels growth in the worldwide television market and this would accordingly spur demand for LED backlight DDICs.

However, even with these growth drivers strongly in place, there are certain restraining factors which have been posing as major challenges for the LED backlight display driver ICs market lately. The increasing adoption of organic light-emitting diode (OLED) owing to their power and display benefits is one among them.