Global OLED Market is expected to reach $28 billion by 2024; growing at a CAGR of 28.2% from 2016 to 2024. Organic light-emitting diodes (OLEDs) are light emitting devices used in mobile, television, PCs, and other equipment for better picture quality and to increase its durability. Organic LEDs are thinner, brighter, and faster than LCD technologies. It does not require lighting like other display modes as the organic materials used by OLED Pixel sites produce their own light. It is energy efficient and inbuilt with more saturated colors which improve the viewing experience of individuals. Cheap manufacturing costs of OLEDs in comparison to LCDs have increased its preference among manufactures.
Increased demand for energy efficient and eco-friendly products is the major factors driving the global OLED market. Moreover, rise in demand for OLED technology in the automobile industry have also propelled the growth of global OLED market. Technological advancement in automotive industry would provide several growth opportunities for the market in coming years. However, high cost of OLED may hinder the market growth.
The global OLED market is bifurcated by technology, materials and application. The segmentations by technology include PMOLED and AMOLED. Electrode materials, Emissive Layer Materials (EML), Hole Transport Layer Materials (HTL), Electron Transport Layer Materials (ETL), and Substrates are the various classifications of OLED by materials. Displays dominated the application segment with the largest market share in 2016. AMOLED was the maximum revenue generating segment by technology. Substrates accounted for the largest market share in the overall OLED market by materials. The application segment is further sub-segmented into displays and lighting.
Based on geography, the market has been segmented into North America, Europe, Asia Pacific and rest of the world (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, United Kingdom, Italy and others. Asia-Pacific covers China, India, Japan, Australia, Singapore, Hong Kong and others. Rest of the world (RoW) covers South America, Middle East and Africa.
Major companies operating in this market are LG Electronics Inc., Philips N.V., OSRAM GmbH, Samsung Electronics Co. Ltd., Panasonic Corporation, and Universal Display Corporation, Konika Minolta, Osram, Toshiba, Pioneer, Ason, Lumiotec and among others.
The key takeaways from the report
* The report will provide detailed analysis of OLED Market with respect to major segments such as technology, materials and application
* The report will include the qualitative and quantitative analysis with marketestimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
* Comprehensive analysis of market dynamics including factors and opportunities is included in the report
* An exhaustive regional analysis of OLED Market will be provided in the report
* Profile of the key players in the OLED Market will be provided, which include key financials, product & services, new developments and business strategies
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