The Global OLED Display Market is anticipated to grow at a significant CAGR of 24.6% in the forthcoming period due to the rising popularity of OLED displays, declining cost of the product and shift in consumer preferences for compact size & weight of display devices. OLED display offers advantage such as low power consumption, compact size, reduced weight, portability and superior performance.
These factors are expected to drive the market growth in upcoming years. However, growing competition in the market, complexity involved during manufacturing processes and introduction of other technologies such as Low Temperature Poly-Silicon (LTPS), Digital Light Processing (DLP), and Color Filter (CF) TFT LCD displays are restraining market growth to a certain extent.
OLED technologies such as passive-matrix organic light-emitting diode (PMOLED) and active-matrix organic light-emitting diode (AMOLED) are gaining traction among various end-user segments. Passive-matrix organic light-emitting diode (PMOLED) displays are increasingly used in application involving small-sized displays such as MP3 players and displays.
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Active-matrix organic light-emitting diode (AMOLED) is the preferred technology that is widely adopted in displays of mobile phones and TVs. Active-matrix organic light-emitting diode (AMOLED) are also adopted in portable gaming machines bigger size and higher resolution. Other advantages of OLED include cost efficiency and lower power consummation. Mobile phones have penetrated in the OLEDs with overall eighty percent market share.
The recent technological advancement in the electronic manufacturing sector coupled with development of novel products & techniques such as compact OLED glass substrates with reduced thickness are expected to fuel market demand of OLED displays in the upcoming years. Increasing investment by industry participants for research & development of OLED display modules to gain competitive edge over their counterparts is propelling market growth. Globally, the market is predicted to generate massive revenue in the forecast period, providing numerous opportunities for market players to invest in development of the OLED display market.
Unlike most of the LCD displays, an OLED display works without a backlight as it emits visible light, making OLED display thinner and lighter in comparison with a liquid crystal display (LCD). In certain scenarios involving low ambient light, an OLED display offers higher contrast ratio compared to the LCD. These factors are expected to boost the market demand for OLED displays in near future.
The market is broadly categorized into two major segments based on the product type such as passive-matrix organic light-emitting diode (PMOLED) and active-matrix organic light-emitting diode (AMOLED). The active-matrix organic light-emitting diode (AMOLED) is considered as one of the fastest growing segment in the OLED display market with substantial revenue generation in the last few years.
Growing popularity of active-matrix organic light-emitting diode (AMOLED) segment is attributed to the rising demand from consumer electronic devices such as TVs, wearables and mobile phones. The passive-matrix organic light-emitting diode (PMOLED) segment has also witnessed substantial growth due to increasing adoption in applications involving small-sized displays such as car displays, phone displays, and MP3 displays.
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The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in electronic manufacturing sector, shift in trend towards thin-film display devices, and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold a major market share in the OLED display market with massive growth in the forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid industrialization, vast consumer base, strong economic growth, increase in per capita income and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the OLED display market are LG Electronics Inc., Samsung Co., AU Optronics Co., BOE Technology Group Co., China Star Optoelectronics Technology (CSOT), Inc., EverDisplay Optronics (EDO) Ltd., Japan Display, Inc., RiTdisplay Co., Universal Display Co., and Visionox Technology Inc.
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Market Segment:
The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Global OLED Display Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• LG Display
• Samsung Electronics
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