Overview and Scope
OLEDs, known as organic light-emitting diodes, are solid-state monolithic devices with several organic thin films sandwiched between two thin-film conducting electrodes. OLEDs are employed in plasma screens, tablets, computers, photographic apparatus, and cellular phones that provide superior viewing angle.
Sizing and Forecast
The organic light emitting diode (oled) market size has grown rapidly in recent years. It will grow from $41.95 billion in 2023 to $47.99 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to consumer electronics demand, increased investments, reduction in manufacturing costs, market competition, flexible displays.
The organic light emitting diode (oled) market size is expected to see rapid growth in the next few years. It will grow to $78.02 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to automotive display growth, healthcare and wearables, smart home integration, improved energy efficiency, enhanced durability. Major trends in the forecast period include mini-led integration, technological advancements, ai and smart assistants, sustainable manufacturing, foldable oled devices.
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Segmentation & Regional Insights
The organic light emitting diode (oled) market covered in this report is segmented –
1) By Product Type: Display, Lighting
2) By Technology: Active-Matrix OLED, Passive-Matrix OLED, Foldable OLED, White OLED, Transparent OLED, Other Technologies
3) By Display Panel Type: Rigid, Flexible, Other Display Panels
4) By End-User: Consumer Electronics, Automotive, Retail, Industrial, Commercial, Aerospace And Defense, Healthcare, Other End-Users
North America was the largest region in the OLED market in 2023. The regions covered in the organic light emitting diode (oled) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increased use of smartphones is expected to propel the growth of the OLED market going forward. Smartphones are portable electronic devices that let users browse the internet, send text messages, and make phone calls. OLED smartphone technology offers benefits, including vivid colors, deep blacks, power efficiency, flexibility, and enhanced visual experiences. For instance, in February 2023, according to the UK Office of Communications, a UK-based intergovernmental organization, there were 71.8 million mobile connections in the UK at the beginning of 2022, representing a rise of 3.8% from 2021 (about 2.6 million) and 4.2 million higher than the country’s total population. Further, by 2025, 65 million people in the UK are expected to have smartphones. Therefore, the increased use of smartphones is driving the growth of the OLED market.
Key Industry Players
Major companies operating in the organic light emitting diode (oled) market report are Panasonic Corporation, Schneider Electric SE, Toshiba Corporation, BOE Technology Group Co. Ltd., LG Display Co. Ltd., Corning Incorporated, DuPont de Nemours Inc., AUO Corporation, Tianma Microelectronics Co. Ltd., Japan Display Inc., Truly Semiconductors Ltd, OSRAM Licht AG, Universal Display Corporation, Everdisplay Optronics (Shanghai) Co. Ltd., Futaba Corporation, Royole Corporation, Wisechip Semiconductor Inc., Kopin Corporation, Winstar Display Co. Ltd., OLEDWorks LLC, Newhaven Display International Inc, FlexEnable Limited, Luminescence Technology Corp., General Digital Corporation, Raystar Optronics Inc, Pixelligient Technologies LLC, Lumiotec Inc., Dresden Microdisplay GmbH, LXD Incorporated, Samsung Display Co. Ltd.
The organic light emitting diode (oled) market report table of contents includes:
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