Global Organic Light Emitting Diodes (OLEDs) Market Highlights over 2022 – 2031
The global organic light emitting diodes (OLEDs) market is estimated to grow at a CAGR of ~21% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the advantageous properties of OLED, such as lightweight, flexibility, transparency and color tuning ability. Organic light emitting diodes comprise of a thin film of organic electroluminescent materials which can emit light when stimulated by electricity. Moreover, in OLED display, each pixel can change its state instantly, which makes them an ideal modern light source. Such factors are estimated to boost the market growth. Furthermore, the advancement in technology, along with rising demand for advanced electronic devices, are anticipated to fuel the market growth. For instance, it was observed that over 3.35 million units of OLED TV were shipped globally in 2020, registering a significant growth in demand for OLED displays.
The market is segmented by end-user into retail, architecture, automotive, consumer electronics, security, and others, out of which, the consumer electronics segment is anticipated to hold the notable share in the global organic light emitting diodes (OLEDs) market over the forecast period on account of increasing consumer demand for OLED television screens, computer displays, smart phones, digital cameras, and others. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
Global Organic Light Emitting Diodes (OLEDs) Market Regional Synopsis
On the basis of geographical analysis, the global organic light emitting diodes (OLEDs) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of presence of major market players in the region. Moreover, the lower labor and raw material cost, and presence of large consumer base in the highly populated countries, are foreseen to provide massive growth opportunity for the market.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing investment in advanced electronic devices, along with constant advancement in technology. Moreover, the higher disposable income in the region is anticipated to boost the market growth.
The global organic light emitting diodes (OLEDs) market is further classified on the basis of region as follows:
-
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
-
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
-
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
-
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
-
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global organic light emitting diodes (OLEDs) market includes the following segments:
By Technology
- AMOLED
- PMOLED
By Application
- Retail
- Architecture
- Automotive
- Consumer Electronics
- Security
- Others
By End-User
- Retail
- Architecture
- Automotive
- Consumer Electronics
- Security
- Others
Growth Drivers
- Improved Video Display with OLED
- Growing Technological Advancement in Electronic Devices
Challenges
- High Cost Associated with Organic LED
Top Featured Companies Dominating the Market
- LG Display Co., Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Samsung Display Co., Ltd.
- Futaba Corporation
- Universal Display Corporation
- RITEK Corporation
- Osram Licht AG
- OLEDWorks LLC
- Innolux Corporation
- Seiko Epson Corporation
- Koninklijke Philips N.V.
