OLED Display Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3827
OLED Display Market size is expected to witness rapid growth to 2025 owing to its advantages such as high brightness, better contrast, improved image quality, wider color range, low power consumption, and simpler design compared to traditional LCD displays. These displays are widely used in digital devices including television, personal computers, media players, digital cameras, gaming consoles, and mini screens, which require high reliability and readability. OLEDs provide high efficiency and operational stability to these systems, driving their adoption. In addition, the growing demand for thin displays in smartphones and smartwatches application segments will drive the growth of the OLED display market in the coming years.
The rise in disposable incomes of consumers across several economies is providing significant growth prospects to the use of displays in the field of consumer electronics, leading to an increasing number of smartphone users globally. In India, the number of smartphone users is expected to rise by 85%. In 2017, smartphone users in India were around 470 million and will increase to 860 million by 2022. The rise in the adoption of smartphones has compelled manufacturers to provide thinner display, better contrast, and brighter screens to users, driving the OLED display market size. Several manufacturers are installing these displays in smartphones. For instance, in June 2019, Lenovo Group announced the launch of Lenovo Z6 series with 6.39 inches of OLED screen and brightness of 600 nits.
The major factor restraining the growth of the OLED display market is the high cost of the product. The device uses components made up of organic materials, increasing the cost of production. Moreover, thickness of an OLED is around 0.17 inches, making it prone to damages as it can be easily damaged due to water, leading to the lower adoption in the consumer electronics market. In addition, with the introduction of the 4K display, the demand for OLEDs has become stagnant.
The growing use of wearable devices among people for reliable and sophisticated gadgets is providing comfort and stability to consumers, increasing the adoption of displays in these devices. These displays emit light in response to electric current, providing users sharper color performance, high contrast, and enhanced viewing angles. Moreover, the OLED display market is witnessing several innovations with companies investing highly in R&D. For instance, in February 2019, Nubia Technology Co., Ltd. announced the launch of a foldable OLED display, which will offer the user a wearable smartwatch with a flexible screen of 4-inch water resistant display. Such factors will increase the awareness and the usage of OLED displays.
The use of Active-Matrix OLED (AMOLED) is expected to witness high demand due to its high usage in smartphones, digital cameras, and OLED TVs. The component used in AMOLED display is a thin-film-transistor containing a storage capacitor, which will help in maintaining the pixel line. These OLEDs offer less response time and consume significantly lesser power, making it suitable for devices requiring less battery consumption and high performance. Super AMOLED devices are used highly in smartphones and wearables and include an integrated digitizer to detect touch and integrate it into the screen. Moreover, they provide an exceptional viewing experience with high customer satisfaction, driving the OLED display market.
The adoption of displays in the automotive industry is increasing due to its usage in the digital cockpit, taillights, rear lights, and indicators. They also help in spotting the car in fogs and smoke as OLED emits bright light. Manufacturers in the automotive industry are installing these LEDs to create thin, efficient, and bright displays and lighting panels. For instance, in March 2018, Mercedes-Benz announced that it will rollout cars with OLED display panels in 2020 with a widescreen that combines a dashboard and a central display connected in the Mercedes S-Class and E-Class. Such factors are expected to fuel the growth for market.
Asia Pacific will witness a high growth in the OLED display market owing to the growth in the consumer electronics sector in the region. Several enterprises are introducing advanced products, enabling them to enhance and expand their business and maintain customer relationship. For instance, in April 2019, Sony Corporation announced the launch of 98-Inch 8K OLED TV in India. The TV includes X1 ultimate processor and is optimized precisely to handle the 33 million pixels for 8K outputs. Moreover, due to favorable government regulations and high availability of raw materials, companies are investing highly in the region, thereby propelling the Asia Pacific OLED display market growth.
Key players operating in OLED display market include Truly Semiconductors Ltd., Innolux Corporation, Sony Corporation, Planar Systems, Inc., Hitachi, Ltd., Pioneer Corporation, LG Electronics Inc., OSRAM GmbH, Samsung Electronics Co., Ltd., Panasonic Corporation, and Universal Display Corporation, among others. These companies are focusing on technological innovations to remain competitive in the market. For instance, in December 2018, Universal Display Corporation announced the long-term OLED agreement with BOE Technology Group Co., Ltd, with a focus on manufacturing Gen 6 flexible AMOLED devices. The partnership will help the company to improve the user experience, driving its sales/revenue. Such innovations will boost the market growth.
OLED Display Market, By Component
OLED Display Market, by End-Use
OLED Display Market, by Application
- Consumer electronics
- Security &surveillance
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
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