OLED Market to be Driven by the Escalating Demand for AMOLED Smartphones and Wearable Technologies in the Forecast Period of 2023-2028
The new report by Expert Market Research titled, ‘Global OLED Market Size, Price, Trends, Growth, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global OLED market, assessing the market based on its segments like products, technologies, end-uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 34 billion
- Forecast CAGR (2023-2028): 21%
The market for OLED is being aided by the rising smartphone ownership and the increasing demand for smartphones with better display and brightness. The rising use of Active-matrix OLED (AMOLED) display in smartphones and wearable devices to provide better display quality than LED is augmenting the market growth. In addition, OLED displays have extensive use in industries like healthcare and construction, among others, which is providing further impetus to the market growth. Also, increasing research and development (R&D) by the major companies such as Panasonic, LG, and Samsung are propelling the market growth. The Asia Pacific market is growing rapidly owing to escalating manufacturing activities and rising demand for consumer electronics, hence contributing to the overall market growth.
Industry Definition and Major Segments
OLED, variously known as organic light emitting diode, is a technology that uses organic molecules to produce lights. It does not require backlighting and consumes less power, it is widely used in electronic equipment, signalling, and general lighting. OLED displays are typically used in televisions, laptops, cellular phones, car stereo, and digital video cameras, among others.
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The market can be broadly categorised on the basis of its products into:
- Display
- Lighting
The major technologies of OLED are:
- Active-matrix OLED (AMOLED)
- Passive-matrix OLED (PAMOLED)
- Foldable OLED
- White OLED
- Transparent OLED
- Others
On the basis of end-use, the market can be divided into:
- Consumer Electronics
- Automotive
- Retail
- Industrial and Enterprise
- Aerospace and Defence
- Healthcare
- Others
The regional markets of OLED are:
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
Market Trends
The OLED industry is driven by the rising demand for better displays in smartphones and televisions. The increasing use of OLED in various industrial applications like measurement equipment, instrumentation, benchtop equipment, current analysers, and industrial handheld monitors, among others, is also expected to aid the market growth. The advent of transparent and flexible televisions which can provide a lifelike experience is anticipated to propel the growth of the OLED industry. Additionally, the surging popularity of foldable smartphones which use AMOLED display is augmenting the industry growth. The technological advancements and increasing future potential for OLED to be used in electric cars are expected to bolster the market growth.
Key Market Players
The major players in the market are LG Electronics, Samsung Electronics Co Ltd, AU Optronics Corp, OSRAM GmbH, OLEDWorks LLC, and Koninklijke Philips N.V., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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