The Video Electronics Standards Association (VESA) announced that version 1.1 of the DisplayPort interface standard for use in new designs of flat panel displays, projectors, PCs and CE devices has been approved.
DisplayPort 1.1 is designed to replace LVDS, DVI, and eventually VGA. DisplayPort provides the ability to connect to both internal and external displays with a common digital interface and carry pixels directly from any display source to any LCD panel allowing for design simplification.
As you can see, DisplayPort plugs are much smaller than DVI and is about the same size as HDMI and USB plugs.
DisplayPort 1.1 adds support for High Bandwidth Digital Content Protection (HDCP) version 1.3, and enables viewing of protected content from Blu-ray and HD DVD optical media over DisplayPort 1.1 connections. DisplayPort 1.1 provides for low voltage and low power operation, and enables improved interoperability and reduced EMI through its unique embedded clock architecture.
Other features include a small USB-sized connector with available latching, two-way display connectivity, optional audio support, higher performance than dual link DVI at 10.8 gigabits per second, and a unique micro-packet architecture that enables new display features.