Dot Matrix Display Market Overview
The Dot Matrix Display Market size is estimated to reach $1.4 Billion by 2027, growing at a CAGR of 6.3% during the forecast period 2022-2027, owing to rising penetration of high-definition display technologies, increasing demand for high-resolution displays in consumer devices & medical equipment and so on. Increasing preference of energy-efficient and high-definition display technologies is driving up demand for dot matrix displays. Dot matrix LED displays are low-cost and provide high brightness, wide field of view, long visual range and are water resistant, resulting in their wide use in electronic devices like digital clocks, electronic meters, TVs and railway departure indicators. With availability in both organic light emitting diode or liquid crystal display variants, dot-matrix displays have already started gaining wider adoption for applications like traffic signals, videowalls, advertising, consumer devices and so on. Furthermore, increasing R&D activities, the growing utilization of digital displays in consumer electronics for developing price tags, electronic boards & digital signage along with many others are some major factors set to transform the Dot Matrix Display industry outlook in the coming time.
Dot Matrix Display Report Coverage
The “Dot Matrix Display Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Dot Matrix Display Market.
- 128x16 Two-Lined Dot-Matrix Display market is analyzed to witness the fastest growth during 2022-2027, attributed to increasing utilization of digital clocks, calculators & other electronic devices, rising demand for smart consumer electronics and so on.
- Dot Matrix Display for Consumer Electronics market is analyzed to grow with the highest CAGR during 2022-2027, owing to increasing demand for high-quality Liquid crystal display television & computer screens, growing trend toward microelectronic & microprocessor devices and so on.
- North America dominated the global Dot Matrix Display market in 2021, attributed to extensive use of medical display devices, integration of dot matrix displays with printing technology and so on.
- Increasing utilization of dot matrix displays in automobile infotainment systems and growing adoption of energy-efficient & high-definition display technologies are analyzed to significantly drive the market growth of the Dot Matrix Display market during the forecast period 2022-2027.
Global Dot Matrix Display Market Value Share, by Region, 2021 (%)
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Dot Matrix Display Market Segment Analysis - by Type
128x16 Two Lined Dot-Matrix Display segment is analyzed to grow at the fastest rate of 7.6% in the global Dot Matrix Display market during the forecast period 2022-2027, attributed to the increasing utilization of two-lined dot matrix displays in digital clocks, calculators & other electronic devices, rising demand for smart consumer electronics and so on. In February 2020, TOYO LED Electronics Limited launched MINI SMART DOT MATRIX with IC Control. Compared to LED & organic light emitting diodes, this model can be programmed with any text. Additionally, two-lined dot matrix displays were widely used in advertisements, warning signs on roads and for location awareness due to their low cost & low voltage consumption capabilities. Such factors are set to accelerate its market growth within the Dot Matrix Display industry over time.
Dot Matrix Display Market Segment Analysis - by Industry Vertical
The consumer electronics segment in the Dot Matrix Display market is analyzed to grow with the highest CAGR of 8.1% during 2022-2027, attributed to increasing demand for higher quality Liquid crystal display television & computer screens, the growing trend toward microelectronic & microprocessor devices and so on. In February 2021, Asus launched ROG Phone 5, with ROG backlit logo having a dot matrix display to display graphics and notifications. Additionally, dot matrix display technology is widely used in electronic meters & calculators, as well as rising demand for high-definition smartphones & monitors are the key factors boosting the growth of the Dot Matrix Display industry for Consumer Electronics in the coming time.
Dot Matrix Display Market Segment Analysis - by Geography
North America dominated the global Dot Matrix Display market with a share of 37% in 2021, attributed to extensive use of display devices in the healthcare industry, integration of dot matrix displays with printing technology and so on. Additionally, the growing adoption of dot matrix displays across varied end-use sectors, high R&D activities from market players and so on can also cater to the market growth. In August 2022, Lumissil Microsystems, Inc. launched IS31FL3723, a new and improved Matrix LED Driver which was cost-effective for gaming accessories, Brown or White Goods Human Machine Interfaces (HMI) and Mini LED Display backlighting. These factors are set to transform the Dot Matrix Display industry outlook in North American markets.
Dot Matrix Display Market Drivers
Increasing Utilization of Dot Matrix Displays in Automobile Infotainment Systems is Driving the Growth of the Dot Matrix Display Market:
Increasing utilization of dot matrix displays in automobile infotainment systems is driving the growth of the dot matrix display market. Dot-matrix LED displays are widely used in automotive companies to display the speed and music track in infotainment systems. The incorporation of advanced features such as heads-up display, voice commands and graphic user interfaces in infotainment systems to increase the level of safety & comfort in passenger vehicles. Growing trends toward connected cars, combined with increasing use of cloud technology and growing preference for implementation of heads-up displays in commercial & personal vehicles, are the driving forces behind the rising market demands. According to a report published by Deloitte in 2022, in-vehicle media consumption in the United States will reach 52 billion hours in 2030 and 95 billion hours in 2040, propelling the growth of in-vehicle infotainment system technologies to USD 30.47 billion by 2022, thereby accelerating the demand for dot-matrix LED displays. In June 2022, Maruti Suzuki launched Brezza, a compact SUV with additional features such as a touchscreen infotainment system developed in collaboration with Toyota to display telematic information. These factors will eventually help in expanding the Dot Matrix Display market size in the long run.
Growing Adoption of Energy Efficient & High-Definition Display Technologies is Boosting the Market Demand for Dot Matrix Displays:
Increasing preference of energy-efficient and high-definition display technologies is driving up demand for dot matrix displays. Dot matrix LED displays are low-cost and provide high brightness, wide field of view, long visual range and are water resistant, resulting in their wide use in electronic devices like digital clocks, electronic meters, TVs and railway departure indicators. According to a report by Samsung Display, consumer demand for larger, higher-resolution televisions will continue to rise, with 4K resolution or higher TVs to account for 80% of the market by 2022. In December 2021, PlayNitride launched 37-inch FHD Modular Micro LED Display, 1.58-inch PM Micro LED Display, 11.6-inch Automotive Micro LED Display and 7.56-inch C+QD. They are designed to expand the capabilities of automotive displays & AR/VR applications. These factors are set to elevate the growth of the Dot Matrix Display market size in the coming time.
Dot Matrix Display Market Challenges
Lack of Technical Infrastructure coupled with Changing Consumer Preferences & Manufacturing Techniques are Restricting the Growth of the Dot Matrix Display Market:
Lack of technical infrastructure, as well as changing consumer preferences & manufacturing techniques, are impending the growth of the Dot Matrix Display Market. The dot matrix display industry faces technological complexities due to a lack of skilled professionals, high cost and limited availability of manufacturing technologies. With changing consumer preferences and manufacturing techniques, high initial investments are required for upgrading, resulting in high installation costs. According to Alibaba an e-commerce site the cost of Dot Matrix Display ranges from $300- $500. Furthermore, the slow rate of technology adoption and the use of heavy metals as raw materials are major impeding the growth of the Dot Matrix Display industry during the forecast period.
Dot Matrix Display Industry Outlook
Product launches, acquisitions and R&D activities are key strategies adopted by players in the Dot Matrix Display Market. The top 10 companies in the Dot Matrix Display market are:
- LITE-On Technology Corporation
- Lighthouse Technologies Ltd.
- Nichia Corporation
- TCL Electronics
- Panasonic Corporation
- LG Electronics
- Shenzhen Dicolor Optoelectronics Co. Ltd.
- Broadcom Inc.
- OSRAM Opto Semiconductor
- Ligitek Electronics
- In September 2021, Nichia and Infineon collaborated to launch a high-density auto headlamp, utilizing Nichia’s dot matrix technology and the latter providing driver IC technology to integrate with the LEDs.
- In September 2021, Osram Opto Semiconductors launched Evyios hybrid second-generation model, based on microLED technology, which incorporated 25,000 LEDs in a dot matrix.
- In January 2021, Broadcom Inc. launched an eight-digit, 5x7 dot matrix alphanumeric display, HDSP-2133, capable of decoding 128 ASCII stored in ROM.
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