OLED Display Market Size, Share, and COVID-19 Impact Analysis, By Type, By Display Type, By End-use, and By Region, Analysis and Forecast 2022-2030
The OLED Display Market is projected to grow from USD 38.4 billion in 2021 to USD 85.4 billion by 2030 at a CAGR of 13.6% during the forecast period.
OLED (Organic Light Emitting Diode) displays have more contrast, are brighter, have wider viewing angles, have faster response times, and use less electricity than standard LED, VFD, or LCD displays. Because of their organic substance, OLED displays are self-illuminating and do not require a backlight for optimal visibility in all conditions. Through 2027, advancements in OLED technology are expected to boost total market growth. Different companies have been working tirelessly to develop these technology and goods.
AMOLED displays are gaining popularity around the world. These components are frequently employed in large displays to facilitate the passage of energy between them. Each pixel on an AMOLED display has a strip of thin-film transistors (TFT) behind it.
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LIST OF KEY COMPANIES PROFILED:
• LG Electronics.
• BOE Technology Group Co., Ltd.
• Universal Display Corporation
• AU Optronics Corp.
• SAMSUNG DISPLAY
• Tianma Microelectronics Co.
• Japan Display Inc
• Innolux Corporation
• E Ink Holdings Inc.
• SHARP CORPORATION
• Corning Incorporated
• Visionox Company
OLEDs have gotten a lot of interest from the scientific and industrial communities throughout the world over the years. A wide range of OLEDs have reached the market, with an emphasis on passive and active matrix solutions, with applications in a variety of industries. The advancement of white OLEDs with a long shelf life of more than 15,000 hours at a brightness level of 1,000 cd/m2 is a prominent topic of research in the OLED market.
Smart TVs currently use OLED technology, which provides efficient and stunning lighting panels. A smart TV is a digital television that is connected to the internet. It's essentially a standard television set with internet and interactive Web 2.0 elements built in. Users can listen to music and watch videos while browsing the internet and looking at images. Smart TVs can deliver internet TV, on-demand streaming, over-the-top content (OTT), online interactive media, and much more, in addition to the usual features of television sets. Online video streaming accounted for 90% of internet traffic in 2019, according to a Cisco study. Smart OLED TVs are altering the concept of entertainment and transforming the entertainment business for these reasons. The rising disposable income due to global economic growth, premium products such as curved OLED TVs are projected to be widely adopted.
MARKET SEGMENTATION-
By Type-
• AMOLED
• PMOLED
By Display Type-
• Flexible
• Rigid By End-use-
• Mobile Phones
• TV Displays
• PC/Laptops
• Digital Cameras
• Automotive By Region-
• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa
The OLED Display Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America is expected to have the biggest market share in the OLED Display market due to rising demand for TV display panels, as well as the use of OLED displays in smartphones, digital signage, and the automotive industries, all of which contribute to the industry's growth. Asia pacific is projected to see highest CAGR in OLED display market due to major vendors, such as LG and Samsung, have manufacturing facilities in Asia Pacific. Furthermore, signage displays manufacturers, TV manufacturers, and other vendors with headquarters in the region like Samsung Electronics, the world's largest manufacturer of OLED displays. Furthermore, China is the world's largest OLED production hub and the fastest-growing consumer goods market, both of which are likely to drive demand for OLED displays and accelerate market expansion.
Most luxury car manufacturers install high-quality OLED displays such as HUDs, instrument clusters, and center stack displays, and Europe is likely to enjoy sustained growth in the OLED market as the region is considered a prominent luxury car maker. This will eventually drive demand for OLED displays, resulting in market expansion. Consumer electronics products are in great demand in the region, which will help the market grow even more. Due to urbanization, the Middle East and Africa are also predicted to increase rapidly. The need for LED-based lighting and OLED displays for cost and energy savings is likely to drive market expansion in the region.
KEY INDUSTRY DEVELOPMENTS:
August 2019- AU Optronics, 17.3-inch OLED display with 120 Hz refresh rate, 12.1-inch full colour TFT driven Micro LED car display with UHD 4K image quality, 5.6-inch AMOLED display, and optical in cell fingerprint LTPS LCD are among the new products.
June 2019- LG Display Corporation Ltd launched a transparent OLED display in the United States. It is a slender display that is intended to provide a unique business experience.
KEY INDUSTRY DEVELOPMENTS:
February 2020- Murata Power Solutions expanded its D1U54 Series with the 2000-W-rated D1U54-x-2000-12, AC-DC, and DC-DC front-end power supplies for ICT (information and communication technology) and networking applications. September 2018- Delta Electronics, Inc. has formed alliances and collaborations with firms whose products complement its own. For example, the business announced a collaboration with GM to develop a 400-kW charging system that can provide 180 miles of range in less than 10 minutes. Europe is expected to be the third-largest market for AC-DC power adapters due to Laptops, workstations, and other devices employing AC-DC power adapters to optimize voltage conversion and enhance energy efficiency. The rising demand for consumer electronics devices in nations such as Germany, the United Kingdom, Russia, and others is driving the use of AC-DC power adapters in the region. In addition, the growing electrification of rural areas is fuelling the region's AC-DC power adapter market.