USD 38750.85 million
Report ID: SQMIG45K2024 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 98 | Figures: 76
Global Organic Light Emitting Diode OLED Market size was valued at USD 38750.85 million in 2021 and is poised to grow from USD 43873.48 million in 2022 to USD 171826.55 million by 2030, growing at a CAGR of 13.2% in the forecast period (2023-2030).
In recent years, organic lightening has emerged as a new trend in the lightening industry. With the growing popularity of organic materials, industries are focusing on producing organic products. The modernization of lifestyles and the increased availability of technologically advanced products are driving up demand for OLED lighting panels. Consumers of lighting solutions, such as homes, businesses, and other private infrastructures, are becoming more accustomed to such new innovative lights. OLED lighting panels are light emitting panels that are used for a variety of lighting purposes. OLED demand is expected to rise over the forecast period because it is used to create an attractive and efficient display as well as large format lighting panels. The popularity of OLED lighting panels is growing due to their appealing appearance as thin films that emit light. OLED is an abbreviation for Organic Light Emitting Diodes. OLEDs are made of organic materials that emit light when powered by electricity. The organic materials used in OLED are carbon-based.
US Organic Light Emitting Diode OLED Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 38750.85 million
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Global organic light emitting diode market is segmented based on product type, technology, end use, and region.
Based on product type, Organic Light Emitting Diode Market is segmented as display, lighting. Based on technology, Organic Light Emitting Diode Market is segmented as PMOLED, AMOLED, Transparent OLED, Top emitting OLED, Foldable OLED, White OLED. Based on end user, Organic Light Emitting Diode Market is segmented as consumer electronics, automotive, retail, industrial, commercial, aerospace and defence, healthcare, others. Based on region, Organic Light Emitting Diode Market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa.
Organic Light Emitting Diode Market Analysis by Product Type:
The global organic light emitting diode market has been divided into two types OLED Displays and OLED Lighting. OLEDs are used to make digital displays for TV screens, computer monitors, and portable devices such as handheld game consoles, mobile phones, and PDAs. As it lacks a backlight, an OLED display can display deep black levels and is lighter and thinner than an LCD. OLED lights are made of a semiconductor material that is layered between two electrodes. OLED is made up of thin layers of green, blue, and red film that emits a softer white light.
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Based on region, global organic light emitting diode market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East Africa. North America is expected to have the largest market share in the OLED market due to rising demand for TV display panels, as well as the incorporation of OLED displays in smartphones, digital signage, and automotive industries, all of which contribute to the market's growth. Because many key vendors, such as LG and Samsung, have manufacturing facilities in the region, Asia Pacific is expected to see significant growth in the OLED market. Furthermore, signage display manufacturing, TV manufacturing, and other vendors with regional headquarters—for example, the major manufacturer of OLED displays "Samsung Electronics" with its headquarters in South Korea. Furthermore, China is the OLED manufacturing hub, and it is the fastest-growing consumer goods market, which is expected to drive demand for OLED displays and drive market growth. Whereas Europe, as a leading luxury car manufacturer, is expected to see sustained growth in the OLED market, most luxury car manufacturers install high-quality OLED displays such as HUDs, instrument clusters, and central stack displays. This eventually generates demand for OLED displays and contributes to market growth.
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Organic Light Emitting Diode Market Drivers
Organic Light Emitting Diode Market Restraint
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The global organic light emitting diode market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective.
Top Players in the Global Organic Light Emitting Diode Market
Organic Light Emitting Diode Market Recent Developments
In December 2021, LG Display unveiled 'OLED EX,' a next-generation panel. OLED EX stands for Evolution and experience, and it uses a new panel algorithm and deuterium to increase brightness by "up to 30 percent in comparison to OLED displays."
Korea was expected to ship 476 million smartphone OLEDs in 2020, with China shipping 128 million, more than doubling China's total from last year. Furthermore, the coronavirus outbreak has a short-term impact on Chinese smartphone OLED manufacturers.
Samsung Display Co., Ltd., which manufactures and distributes display products, developed a low-power consumption organic light-emitting diode (OLED) panel for smartphones in January 2021.
Samsung Display Co., South Korea's largest display manufacturer, will invest US$2.7 billion in March 2021 to build a new organic light-emitting diode (OLED) line for small-size panels used in smartphones and laptops.
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According to our global organic light emitting diode market analysis, the use of OLED lights for creating large area lighting panels is rapidly increasing because OLED lights produce better light than LEDs and fluorescent lights, which is one of the primary factors driving the growth of the OLED market. The flexible nature of OLED panels, as well as their eye-catching designs, are expected to increase demand for OLED from corporate and commercial infrastructures, and this is another factor driving the growth of the OLED market. Furthermore, the growing adoption of healthier lighting in developed countries such as the United States, Canada, the United Kingdom, Taiwan, and others is propelling the OLED market forward. Given the aforementioned factors, the OLED lighting panels market is expected to expand significantly over the forecast period.
|Market size value in 2021||USD 38750.85 million|
|Market size value in 2030||USD 171826.55 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Organic Light Emitting Diode OLED Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Organic Light Emitting Diode OLED Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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