The global OLED panel market size is expected to register a high CAGR during the forecast period, 2021–2028. An organic light-emitting diode (OLED or organic LED) is a light-emitting diode (LED) in which the emissive luminescent layer is a film of organic compound that produces light in response to an electric current. This organic layer is sandwiched between two electrodes, at least one of which is usually transparent. OLEDs are utilized in devices like television screens, computer monitors, and portable systems like smartphones and handheld gaming consoles to generate digital displays. The development of white OLED devices for use in solid-state lighting applications is a key field of study.
Today, OLEDs are mostly employed in mobile devices, with many high-end smartphones using them. Annually, over 500 million OLED panels are made by various display manufacturers, and the industry is rising because OLEDs provide superior picture quality, smaller form factors, and flexibility - all of which are difficult to achieve with LCDs. Over a billion OLED panels are estimated to be produced yearly by 2022.
According to Analysis, OLED displays will be found in 45% of all smartphones sold in 2021. On the other hand, this form of display is predicted to be found in 55 percent of all handsets sold in 2022.
One of the fundamental causes for the increase in market share of OLED-equipped smartphones is the greater adoption of AMOLED and OLED display technologies by major smartphone manufacturers like Apple and Samsung.
Samsung is developing a new type of television that tries to integrate two display technologies into one. It's a QD Display, which is a mix of OLED and quantum dots. According to Korea IT News, Samsung Display will stop producing LCD panels by the end of 2021 and switch to QD Display the next year. Samsung Electronics, on the other hand, might begin selling these revolutionary TVs as early as 2022.
AMOLED panels in laptops are becoming more popular. Samsung said earlier this year that it will deliver ten new OLED laptop displays in 2021, and sources claimed that the firm is considering creating a specialized 6-Gen or perhaps 8.5-Gen production line for laptop AMOLEDs.
Market Trends, Drivers, Restraints, and Opportunities
- Increased demand for smart phone is expected to drive the market expansion in coming years.
- Growing number of smart tv manufactures is projected to surge the demand for hydrocolloids market.
- Rising disposable income due to rapid economic growth are anticipated to surge the market.
- Properties of OLED such as flexibility, slim, and lightweight are expected to boost the market during the forecast period.
- Increased adoption of OLED in cars is expected to fuel the market during the forecast period.
- Rising demand for AMOLED display is key factors pushing the market growth in the coming years.
- Rapid growth in electrical & electronic industry are major factors boosting the market.
- High cost of OLED is expected to hinder the market.
- OLED generally have shorter life span than LED this act as a challenge for the market growth.
- Technological advancements and developments such as smart AMOLED and others are expected to create a lucrative opportunity for market players.
Scope of the Report
The report on the global OLED panel market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
OLED Panel Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Display Address Scheme (PMOLED Displays and AMOLED Displays), Types (Rigid, Flexible, and Transparent), Size (Small-sized OLED Panels, Medium-sized OLED Panels, and Large-sized OLED Panels), Products (Television, Mobile & Tablet, Automotive, Wearable, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Sony Corporation; Pioneer Corporation; Raystar Optronics Inc.; Samsung Display Co. Ltd; LG Display Co., Ltd
OLED Panel Market Segment Insights
The AMOLED displays segment is expected to expand at a rapid pace
In terms of display address scheme, the OLED panel market is segmented into PMOLED displays and AMOLED displays. The AMOLED displays segment is expected to hold a key share of the market in the coming years due to broad viewing angle, quick response time, and power efficiency AMOLED displays are ideal for devices with a high-power consumption, such as smartphones. AMOLED screens, for example, are used in various Apple watches, and the iPhone X includes an AMOLED screen.
The flexible segment is projected to constitute a key market share
Based on types, the OLED panel market is divided into rigid, flexible, and transparent. The flexible segment is expected to account for a key share of the market during the forecast period owing to it helps in manufacturing of screens or panels flex without breaking.
The small-sized OLED Panels segment is expected register at a rapid pace
On the basis of sizes, the OLED panel market is segmented into small-sized OLED Panels, medium-sized OLED Panels, and large-sized OLED Panels. The small-sized OLED Panels segment is expected to grow at a rapid pace during the forecast period due to rising demand for wearable devices as due to thickness, flexibility, and appearance of small size OLED display, make it a favorable technology for wearable applications.
The mobile & tablet segment is anticipated to register rapid CAGR
In terms of products, the OLED panel market is divided into television, mobile & tablet, automotive, wearable, and others. The mobile & tablet segment is expected to constitute a key share of the market during the forecast period due to continuous evolving technology and rising demand for high resolution and enhance display quality smart phones and tables.
Asia Pacific is anticipated to dominate the market
On the basis of regions, the OLED panel market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to rapid growth of disposable income and rising number of consumers in the region.
The global OLED panel market has been segmented on the basis of
Display Address Scheme
- PMOLED Displays
- AMOLED Displays
- Small-sized OLED Panels
- Medium-sized OLED Panels
- Large-sized OLED Panels
- Mobile & Tablet
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Sony Corporation
- Pioneer Corporation
- Raystar Optronics Inc.
- Samsung Display Co. Ltd
- LG Display Co., Ltd
Key players competing in the OLED panel market include Sony Corporation; Pioneer Corporation; Raystar Optronics Inc.; Samsung Display Co. Ltd; LG Display Co., Ltd.
Some of these players are focusing on business strategies including partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
On, June 2019 LG Display launched a transparent OLED commercial display in the United States It's a see-through display with a razor-thin thickness that's meant to provide a unique consumer experience in commercial applications like retail and hospitality signs.