OLED Market is projected to rise at a higher CAGR during the forecast period | Size, Share & Forecast

The OLED Market is anticipated to expand at a remarkable CAGR during the forecast period

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The factors driving growth of the OLED Market includes increasing penetration of smartphones and gaming consoles around the world, Government policies supporting OLED lighting research, growing popularity of smart Televisions and improvements in the living standards. For instance, the revenue generated from the sales of video game consoles across India is expected to reach USD 13.40 billion by the end of 2022, growing at a CAGR of 10% over the forecast period (2022-2026), which will accelerate the Global OLED Market in the approaching years. Moreover, OLED displays provides enhanced image quality, increasingly used to manufacture back-window alerts, rear-view mirrors, and dashboard displays in the automobile sector and are easy to recycle as compared to LCDs, are some of the factors pushing the OLED Market Growth. Moreover, technological advancements in OLED displays, rise in the launch of innovative products, expansion of the manufacturing sector and rapid urbanization, are pushing 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.

However, growth of the OLED Market is hindered because are LED and LCDs are comparatively cheaper than OLEDs.

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

Based on Application Type, the Lighting segment is predicted to grow at a significant CAGR during the forecast period

Growing demand for luxurious cars and rising focus of manufacturers on developing flexible lighting for vehicles, are propelling the segment's growth.

Based on Industry Type, the Consumer Electronics segment is projected to expand at a robust CAGR over the forecast period

Increasing use of OLED based technologies for developing advanced consumer electronics products such as smartphones and televisions, is propelling the segment's growth.

Based on Region, the Asia-Pacific region is anticipated to grow at a faster CAGR during the forecast period

As per the OLED Market Forecast, presence of the leading players such as AU Optronics Corp., Tianma Microelectronics and Samsung Electronics, Government policies promoting the manufacturing of automobiles, rapid urbanization, and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.

 Market Segmentation

Segmentation by Technology Type

AMOLED
• PAMOLED

Segmentation by Application Type

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

Segmentation by End user industry Type

Consumer Electronics
• Automotive
• Sports & Entertainment
• Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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