OLED Market

OLED Market is projected to witness a faster CAGR over the forecast period (2018-2025), due to the increasing investment in establishing new facilities to manufacture OLED and growing demand for better viewing experience.

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Key Drivers

The major factors propelling the OLED Market includes accelerating penetration of smartphones and gaming consoles, strategic government policies encouraging OLED lighting research, rising prominence of smart Televisions and improvements in the living standards. For instance, the Indian video game consoles market is expected to touch USD 13.40 billion by the end of 2022, exhibiting a CAGR of 10% over the forecast period, which will stimulate the Global OLED Market in the approaching years. Moreover, OLED displays offers improved image quality which has augmented their use to produce rear-view mirrors, back-window alerts, and dashboard displays in the automobile sector and are easily recyclable as compared to LCDs, are some other factors pushing the OLED Market Growth. Moreover, ongoing technological advancements in OLED displays, launch of advanced products, expansion of the manufacturing sector and rapid urbanization, are propelling the OLED Market share. In addition, the increasing investments by leading players on research and development, strategic alliances and partnerships between companies and growing disposable incomes, are supplementing the OLED Market size. Growing application of OLED-based devices across digital cameras, media players, mobile phones, television, and wearable devices, etc., will bolster the market growth.

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Application Segment Analysis

Lighting application is estimated to witness a significant CAGR during the forecast period, due to the rising demand for luxurious cars and growing emphasis of manufacturers on developing flexible lighting for vehicles.

Technology Type Segment Analysis

AMOLED Display technology is estimated to witness a higher CAGR over the forecast period, due to the growing use of technology in mobile phones. The ongoing technological innovations which include improved picture quality in large-screen TVs and accelerating penetration of smartphones will bolster the market growth. Additionally, increasing incorporation of AMOLED panels into their devices by mobile manufacturers due to exceptional features including thinness and brightness, is projected to strengthen the market growth. Additionally, Samsung, one of the leading vendors in the OLED panels market, incorporates AMOLED and Super AMOLED display technologies in most of its smartphones.

Increasing investment by several display factories to increase AMOLED production lines will accelerate the AMOLED penetration rate in the market. Moreover, the increasing demand for smartphone displays across the globe, owing to the increasing smartphone penetration rates, is expected to propel the demand for AMOLED panels in the market.

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Regional Analysis

Asia Pacific is expected to lead the market over the forecast period due to the presence of leading players which include LG, and Samsung, AU Optronics Corp., Tianma Microelectronics and Samsung Electronics, strategic Government policies promoting the manufacturing of automobiles, rapid urbanization, and high population growth rates. For example in August 2021, LG Display decided tp invest KRW 3.3 trillion to raise its medium-and-small sized OLED display production capacity. According to the company, the investment will be made through March 2024 and will be used in OLED facilities in South Korea that manufacture sixth-generation (1,500mm x 1,850mm) substrates.

North America is expected to hold a higher share in the market primarily due to the growing demand in TV display panel, integration of OLED displays in smartphones, digital signage, and automotive industries.

Top Market Players

Key players in this market are Samsung Electronics (South Korea), Universal Display Corp. (US), BOE Technology (China), Acuity Brands (US), LG Display (South Korea), AU Optronics Corp. (Taiwan), OLED Works (US), Tianma Microelectronics (China), and Konica Minolta Pioneer OLED (Japan).

Key Developments:

• • In 2022 – LG Display first launched a 77-inch 8K OLED TV panel with MLA technology at the Society for Information Display’s (SID) Display Week 2022, in San Jose, California, on the 10th (local time) for three days. LG Display’s 77-inch 8K OLED TV was the first in the world to use both EX technology and MLA.
  • In 2021 – Apple Inc entered into a with Taiwan Semiconductor Manufacturing Co to introduce micro-OLED displays, which the company has intended to use in its upcoming augmented reality (AR) devices.

Segments covered in the Report:

Global OLED Market has been segmented on the basis of technology, application areas, by type of end user and region. Based on the technology it is segmented as AMOLED and PAMOLED. Based on application verticals it is segmented into Smartphones & Tablets, TV, Laptops & Monitors, Wearable, Lighting, and Others. On the basis of type of end user, the market is segmented as Consumer Electronics, Automotive, Sports & Entertainment, and Others. The region in focus is entire world market. The report highlights the main market drivers fuelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the OLEDs in global market. The competitive landscape section of the report captures and highlights the recent developments within the market.

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Key questions answered in this research report:

• •  At what pace is Global OLED market growing? What will be growth trend in future?
  •  What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  •  What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in global OLED market?
  •  What are the various application areas and how they are poised to grow?

Market Segmentation

By Technology Type

• AMOLED
• PAMOLED

By Application Type

• Smartphones & Tablets
• TV
• Laptops & Monitors
• Wearable
• Lighting
• Others

By End user industry Type

• Consumer Electronics
• Automotive
• Sports & Entertainment
• Others

By Geography

North America
As a part of customization

• By Technology Type
• By Application type
• By End user type
• US
• Canada
• Mexico

Europe
As a part of customization

• By Technology Type
• By Application type
• By End user type
• UK
• Germany
• Spain
• Rest of Europe

Asia-Pacific
As a part of customization

• By Technology Type
• By Application type
• By End user type
• China
• Australia
• India
• Rest of APAC

ROW (rest of the world)
As a part of customization

• By Technology Type
• By Application type
• By End user type
• Brazil
• South Africa
• GCC countries
• Rest of world (remaining countries of the LAMEA region)

Key market players here are

• Samsung Electronics
• Universal Display Corp.
• BOE Technology
• Acuity Brands
• LG Display
• AU Optronics Corp.
• OLED Works
• Tianma Microelectronics
• Konica Minolta Pioneer OLED
• OSRAM GmbH