The global OLED technology market is predicted to show a promising growth during the forecast period owing to the increased demand for energy efficient and eco-friendly lighting products that would consume less energy. This is the major factor driving the global OLED market. OLEDs are primarily used for display and lighting functions. Based on the rapid technological developments, OLED technology has shown drastic improvement in the past few years.
OLED technology is witnessing wide acceptance and would expand its growth in the display and lighting market in future. Currently OLED technology is in its growing stage; however, with the technological developments taking place it will soon have a major position in the market. Based on features offered by the OLED technology, it is increasingly becoming popular among the end users. Low power consumption, enhanced efficiency, better picture quality, and flexibility are some of the advantages associated with the OLED technology. In addition, rise in awareness among users and increase in demand for eco-friendly lighting products would lead to rapid growth of the overall OLED market during the forecast period. However, the high price of OLED technology acts as a major limiting factor for the growth of this technology. Advancement in technology would help the OLED light manufacturing companies to reduce the overall cost of production of OLED.
Factors such as high demand for cost effective and energy-saving OLED lighting, increase in government initiatives toward OLED adoption, and growth in display and large screen backlight market act as major drivers, driving the market growth globally. However, problems pertaining to high cost of the technology and various technological limitations hamper the market growth to a certain extent. Furthermore, increase in demand for eco-friendly lighting solutions and increase in adoption of smart lighting system is expected to offer lucrative opportunities to the market.
The global organic LED market is segmented into product type, technology, end use, and region. On the basis of product type, the market is bifurcated into displays and lightings. By technology, it is divided into PMOLED, AMOLED, transparent OLED, top-emitting OLED, foldable OLED, and white OLED. On the basis of end use, the market is categorized into consumer electronics, automotive, retail, industrial, commercial, aerospace & defense, healthcare, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA, along with its prominent countries.
The key organic LED market leaders profiled in the report include LG Electronics, Philips, OSRAM, Samsung Electronics, Panasonic Corporation, AU Optronics, CREE, GE Lighting, Eaton, and Dialight PLC.
These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
KEY BENEFITS FOR STAKEHOLDERS
- This study includes the analytical depiction of the organic OLED market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities in the organic LED market.
- The organic LED market growth is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
GLOBAL ORGANIC OLED MARKET SEGMENTATION
BY PRODUCT TYPE:
- Passive-Matrix OLED (PMOLED)
- Active-Matrix OLED (AMOLED)
- Transparent OLED
- Top-Emitting OLED
- Foldable OLED
- White OLED
BY END USE:
- Consumer Electronics
- Aerospace & Defense
- North America
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East