Organic Light Emitting Diode (OLED) Market
Market Values According to a comprehensive study, the Organic Light Emitting Diode (OLED) Market is expected to reach a value of USD 103.88 billion by the year 2029, with a remarkable compound annual growth rate (CAGR) of 12.08% during the forecast period.
Report Scope The report analyzes the global Organic Light Emitting Diode (OLED) Market, providing valuable insights into the market’s trends, size, and potential. It presents a detailed study of key stakeholders in the industry, including market leaders, followers, and new entrants. The report covers the past and current status of the industry, along with forecasted market size and trends. It utilizes various analytical tools such as PORTER, SVOR, and PESTEL analysis to understand the market dynamics and the potential impact of micro-economic factors on the OLED market.
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Research Methodology
The study involves a robust research methodology to ensure accuracy and reliability. The report’s analysis includes a thorough examination of revenue impact due to the COVID-19 pandemic on market leaders, followers, and disruptors. The data is presented in a simple language, making it easy for decision-makers to comprehend the market dynamics and plan future strategies accordingly.
Drivers
The Organic Light Emitting Diode (OLED) Market is witnessing significant growth, driven by several factors. The increasing adoption of OLED technology in digital displays and solid-state lighting applications, coupled with rising demand for OLED technology in various consumer electronics, has emerged as a major growth driver. Additionally, the growing number of Smartphone users globally, technological advancements in LED technology, rapid development in OLED micro display technology, and rising investments in OLED research and development activities are expected to foster market growth during the forecast period.
Restraints
Despite the impressive growth prospects, the market faces some challenges. The limited lifespan of organic materials, poor sunlight readability in OLED displays, and occurrences of degradation are identified as key restraining factors that could hinder the market’s growth.
Segmentation
By technology
The market’s leadership was held by the active-matrix OLED (AMOLED) category in 2022, and this trend is anticipated to continue with a CAGR of over the ensuing five years. The market’s expansion is responsible for an increase in the use of AMOLED technology in products including media players, mobile phones, digital cameras, and televisions. With advantages including high brightness, light weight, high energy efficiency, flexibility, low power consumption, excellent display quality, high contrast ratio, low cost, large size, and high resolution, AMOLED technology is becoming more and more popular for use in various display devices. Additionally, ongoing product introductions based on AMOLED technology by top industry players are anticipated to further fuel market expansion throughout the course of the projection period.
By application
During the forecast period, it is expected that the display segment would expand quickly, at a CAGR of . The development of the market is due to an increase in the use of OLED technology to build digital displays in various electronic devices, including computer monitors, television screens, and portable systems like PDAs, handheld game consoles, and Smartphones. The market is anticipated to increase in the next years as a result of the growing use of OLED technology in near-eye display applications including electronic view finders (EVFs), head-up displays (HUDs), head-mounted displays (HMDs), and virtual reality headsets.
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Regional Insights
Asia Pacific dominates the OLED market, holding the largest market share in 2022. The region is projected to maintain its dominance with a promising CAGR during the forecast period. This growth is attributed to the presence of major electronic devices manufacturing companies in countries like China, Japan, India, and South Korea, such as Samsung, LG, Nokia, and Panasonic, among others. Advancements in OLED display and lighting technology, increasing adoption of consumer electronics devices, high disposable income, and a continuous introduction of OLED technology-based electronic devices by market players are contributing to the market’s expansion in the APAC region.
Key players
• FUTABA CORPORATION
• Samsung Electronics Co., Ltd.
• Universal Display Corporation
• Kunshan Visionox Display Technology Co., Ltd
• DLC Display Co., Limited.
• Pioneer Corporation
• Sony Corporation
• Koninklijke Philips N.V.
• Acuity Brands Lighting Inc.
• SEIKO EPSON CORPORATION
• Innolux Corporation
• OLEDWorks LLC
• LG Electronics Inc.
• OSRAM GmbH
• RITEK Corporation
• Panasonic
• Nokia
• AU Optronics
• Beijing Opto-Electronics
• Japan Display
Conclusion
The comprehensive analysis of the Organic Light Emitting Diode (OLED) Market provides a clear and futuristic view of the industry to decision-makers. The report serves as a valuable guide for investors, offering insights into competitive analysis, market dynamics, market segments, and growth strategies of key players in the OLED market.
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