Expert Market Research’s new report titled ‘Global OLED Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global OLED market, assessing the market based on its segments such as products, technologies, end uses and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): USD 34 billion
- Forecast CAGR (2021-2026): 21%
The OLED market is aided by growing smartphone ownership and growing demand for smartphones with better display and brightness. Increasing use of Active Matrix OLED (AMOLED) display in smartphones and wearable devices to provide better display quality than LED is increasing the market growth. Additionally, OLED displays are widely used in industries such as healthcare and construction among others, giving further impetus to the growth of the market. Additionally, increase in research and development (R&D) by major companies such as Panasonic, LG, and Samsung is propelling the growth of the market. The Asia-Pacific market is growing rapidly due to escalating manufacturing activities and growing demand for consumer electronics, thus contributing to the overall growth of the market.
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 a backlight and consumes less power, widely used in electronic equipment, signage and general lighting. OLED screens are typically used in televisions, laptops, cell phones, car stereos, and digital video cameras, among others.
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The market can be broadly categorized on the basis of its products into:
The major OLED technologies are:
- Active matrix OLED (AMOLED)
- Passive Matrix OLED (PAMOLED)
- Foldable OLED
- White OLED
- Transparent OLED
On the basis of end-use, the market can be divided into:
- Consumer electronics
- Industrial and business
- Aeronautics and Defense
- Health care
The regional markets for OLED are:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
The OLED industry is driven by growing demand for better screens in smartphones and TVs. Growing use of OLED in various industrial applications such as measurement equipment, instrumentation, benchtop equipment, power analyzers, and industrial portable monitors, among others, is also expected to contribute to the growth of the market. The advent of transparent and flexible TVs that can deliver a realistic experience is expected to propel the growth of the OLED industry. Moreover, the growing popularity of foldable smartphones that use AMOLED display is increasing the growth of the industry. Technological advancements and growing future potential of OLEDs for use in electric cars are expected to drive the market growth.
Main market players
Major market players include LG Electronics, Samsung Electronics Co Ltd, AU Optronics Corp, OSRAM GmbH, OLEDWorks LLC, and Koninklijke Philips NV, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.