The global OLED panel market size is expected to reach a value of USD 68.25 Billion by 2027, growing at a CAGR of 9.11%, as per a new research report published by Confianza Market Research & Consultancy. The OLED panel industry is expected to witness exponential growth as the demand for AMOLED screens has increased substantially in the smartphone industry. Moreover, OLED panels offer advantages such as high picture clarity, contrast, low power consumption, and flexibility, which act as a major driving force for the market growth.
OLEDs were invented in 1987 by Kodak, the technology undergone a tremendous transformation since then till today. OLED comprises of a substrate, anode, an organic layer, a conductive layer, an emissive layer, and a cathode. The usage of OLED panels is increased in non-conventional applications such as lighting, display in smartwatches, instruments, automotive infotainment systems, vending machines, and others.
A considerable increase has been witnessed in the number of smartphone users worldwide in the last 5 years. In 2017, China sold smartphones worth USD 152.0 billion, a growth of 12.6% from the previous year. The emergence of smart TVs with big screen sizes has positively benefitted the OLED panel companies, many major television manufacturers such as LG Electronics, Samsung Electronics, and Sony Electronics have launched OLED TV considering the huge demand for such products from customers.
The Asia Pacific OLED panel market is expected to dominate over the forecast period, the region accounted for greater than 35% market share in 2019. Two major OLED panel manufacturers LG Electronics and Samsung Electronics are Asian companies, these companies supply their panels to most of the major smartphone, TV & lighting manufacturers. The Asian smartphone market is witnessing a staggering growth, especially China being the smartphone giant that has dominated the industry for decades.
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Key report findings:
- The flexible OLED segment is expected to gain significant market share in the upcoming few years from the smartphone & TV sectors. The rigid display segment accounted for greater than 60% market share in 2019.
- AMOLED display was the largest OLED market segment in 2019 owing to increasing application in electronics.
- The large size panel segment holds great future growth potential. The Middle size segment is dominating the market.
- Smartphone & tablet is the largest application segment for OLEDs, with greater than 40% market share in 2019.
- Asia Pacific is the largest market for OLED panels. The European region is expected to grow at a moderate growth rate over the forecast period.
- Panel Type Insights (Revenue, USD Million, 2017 – 2027)
- Display Address Scheme Insights (Revenue, USD Million, 2017 – 2027)
- PMOLED Display
- AMOLED Display
- Panel Size Insights (Revenue, USD Million, 2017 – 2027)
- Small-sized OLED Panel
- Medium-sized OLED Panel
- Large-sized OLED Panel
- Product Insights (Revenue, USD Million, 2017 – 2027)
- Mobile & Tablet
- Regional Insights (Revenue, USD Billion, 2017 – 2027)
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- North America