According to a market report, published by Sheer Analytics and Insights, the global OLED display market was valued at $36.9 billion in 2021 and it is expected to reach $121.3 billion at a CAGR of 11% between 2022 and 2032. OLED displays are thin, efficient and they provide the best image quality as they can also be made flexible, transparent, and foldable. Hence, the OLED display would become the future of display technology. However, flexible OLEDs have already become popular in the market over the last few years. It is widely used in making smartphones, wearable, and other devices. OLEDs are organic because they are produced from carbon and hydrogen; thus the market of carbon and hydrogen manufacturing industries has also witnessed growth due to the increased production of OLEDs across the global market. OLEDs are widely used in making mobile phones smart tv screens and vehicle headlights. Thus, the increasing adoption of OLEDs is expected to witness significant market growth during the forecast period. The high costs of OLED in production are anticipated to hinder the market in particular, and the OLEDs have a limited lifetime, which might be a problem for the market growth. However, the OLED displays are continuously gaining popularity due to their high pixel switching speed, which is projected to propel market growth in the upcoming years.
There are several functional benefits of OLED technology that are expected to boost the market growth and it would increase the demand for OLED in the global market. There are other major factors such as increasing awareness for greener technology, less power consumption, simplicity of design, and reduced material usage, which are estimated to drive the growth opportunities of the OLED display market. A couple of years ago, Japan Broadcasting Corporation and Sharp Corporation, together developed 30 inch TV with a 4K flexible OLED display. Even, some major companies from various regions are focusing on their business expansion to enhance their market presence. Moreover, the world’s largest OLED manufacturing production is mainly situated in South Korea. At present days, in this country, several industries are still in progress and developing advanced OLED displays to benefit their customers.
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Newest OLED display technologies from foldable to laptops, consumers are growing their interest in learning more about OLED products; thus, they could use them properly according to their requirements. The OLED microsite serves as a hub to communicate the display’s priorities to its increasing customers in Asia-Pacific countries such as India, China, and Japan. The OLED display market is becoming very competitive due to the presence of a large number of multinational major players. Along with these players, there are some local and domestic players which are also helping the market to have significant growth. The sales of advanced technological products such TV, smartphones, smart watches, and lighting systems are increasing, which is creating more growth opportunities for the OLED display market. There are expected to drive the growth of the global OLED market throughout the forecast period.
According to the study, key players dominating the global OLED display market are AU Optronics Company (Taiwan), Wolfspeed Company (U.S), Eaton Corporation Company (U.S), General Electric Multinational Conglomerate Company (U.S), LG Innotek Manufacturing Company (South Korea), AMS Company (Austria), Panasonic Industrial Conglomerate Company (Japan), Samsung Group multinational Conglomerate Company (South Korea), Universal Display Corporation (U.S), BOE Technology and Electronic Company (China), Tianma Micro-Electronics Company (China), Acuity Brands Company (U.S), OLEDWorks LLC Company (Germany), Konika Minolta Optical Products Company (Japan), Lumiotec Company (Japan), Royole Corporation Company (U.S), Kopin Corporation (U.S), Pixelligent Technologies LLC (U.S), Luminescence Technology Corporation (Taiwan), Sharp Corporation (Japan), Sony Group Corporation (Japan), Corning Incorporated Technology Company (U.S), YFY Incorporated Company (Taiwan), Visionox Company (China), Innolux Corporation Company (Taiwan), Ritek Storage Corporation (Taiwan), Pioneer Corporation (Japan), Tatung Company Corporation (Taiwan), HannStar Display Corporation (Taiwan), among others.
The Global OLED Display Market Has Been Segmented Into:
The Global OLED Display Market – By Product Type:
The Global OLED Display Market – By Technology:
The Global OLED Display Market – By End-Users:
The Global OLED Display Market – By Regions:
North America
Europe
Asia-Pacific
LAMEA
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