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OLED Display Market Size
OLED Display Market is projected to build up substantial momentum over 2024 to 2032, fueled by increasing sales of consumer electronics such as smartphones, cameras, tablets, and laptops. OLED displays offer several advantages over traditional LCD screens, such as higher contrast ratios, faster response times, wider viewing angles, and thinner form factors, leading to enhanced visual experiences for users.
With many consumer electronic firms now using OLED screens as the unique selling point for their products, emphasis on innovations in the technology are increasing at a rapid pace, providing more impetus for the industry growth. The focus among market players towards heavily investing in refining OLED technology and products is favoring product demand.
OLED Display Market Trends
There is a growing demand for flexible and foldable OLED displays, enabling manufacturers to create innovative designs and form factors for smartphones and wearable devices. The advancements in OLED manufacturing processes, such as inkjet printing and vapor deposition techniques, are driving down production costs and improving production yields, making OLED displays more commercially viable. Furthermore, rising investments in R&D are fueling the development of next-generation OLED technologies, such as microLED and QLED-OLED hybrids, which promise even higher performance and energy efficiency. The increasing adoption of OLED displays in emerging applications, such as augmented reality (AR) and virtual reality (VR) devices, medical displays, and signage, is expanding the market opportunities for OLED manufacturers.
Impact of the Russia-Ukraine war on OLED display market
The Russia-Ukraine war has had far reaching impacts on the global economy and the OLED market has also experienced these effects. Both the involved countries sit on vast reserves of rare earth elements, which are commonly used in the production of semiconductors. Considering that semiconductors are important in the make-up of OLED screens, the market is likely to report a constrained supply chain as a result of the war. While many global economies are exerting geopolitical pressure to bring the conflict to an end, the industry is likely to experience stunted growth until that happens.
OLED Display Market Analysis
With respect to component, the AMOLED segment is slated to record noteworthy gains over the forecast period as they are typically utilized in larger displays to ease energy transfer throughout the screen and its pixels. AMOLED screens have strips of TFT (thin-film transistors) behind each individual pixel, which allows it to offer better refresh rates and enhanced viewing angles. The lightweight, thin, and flexible nature of these displays compared to traditional technologies including LED and LCD, favor the segment growth.
With respect to application, the OLED display industry share from consumer electronics segment is likely to accrue noteworthy revenues by 2032, driven by the ability to operate on less power. The minimal power consumption of screens, particularly in portable devices like laptops, smartphones, and tablets, is favoring the product demand. According to global think tank UBI Research, shipments of OLED panels for consumer electronics will likely hit 48.8 million units by 2027.
Asia Pacific OLED display market is anticipated to register notable growth through 2032, backed by the concentrated production as well as increased consumption of electronics in the region. Meanwhile, the presence of several leading market players in the field is also likely to outline the regional business scenario. Countries such as South Korea, India, Japan, China, and Taiwan are foreseeing significant economic growth, which is transitioning into more disposable incomes that are leading to consumer electronics purchases, adding to the market growth.
OLED Display Market Share
Leading enterprises operating in the OLED market include Truly Semiconductors Ltd. (Truly International Holdings), Sony Corporation, Innolux Corporation (Hon Hai Precision Industry Co., Ltd., Chi Mei Corporation), LG Electronics Inc. (LG Corp.), Panasonic Corporation and Samsung Electronics amongst others. These vendors are relying on strategies such as partnerships and collaborations, mergers and acquisitions, and new product launches to remain competitive in the industry.
OLED Display Industry News
- In November 2023, LG G2 97-inch 4K OLED, the world's largest television, was launched by LG. The company collaborated with Lotus Electronics to introduce its largest-ever television in India.
- In April 2023, Samsung Display, a division of Samsung Electronics, announced its intention to invest 4.1 trillion won ($3.14 billion) in Asan, South Korea, by 2026. This investment is aimed at the production of advanced OLED display panels utilized in tablets and computers.