According to the report by Expert Market Research (EMR), the global OLED market is projected to grow at a CAGR of 21% between 2024 and 2032. Aided by the growing demand for energy-efficient and high-quality display panels, the market is expected to grow significantly by 2032.
OLEDs are a type of light-emitting diode in which the emissive electroluminescent layer is a film of organic compound that emits light in response to an electric current. This technology is widely used in television screens, computer monitors, smartphones, and other devices due to its ability to produce deeper blacks and a higher contrast ratio than traditional LCD displays. OLEDs are also known for their flexibility, which has led to the development of curved and bendable screens.
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The OLED market growth is largely driven by the consumer electronics industry, where the demand for high-quality display screens is continuously increasing. The superior picture quality, including better colour accuracy and contrast offered by OLED displays, is a significant factor in their popularity. Additionally, the growing interest in energy-efficient and eco-friendly technologies is propelling the adoption of OLEDs, as they consume less power compared to traditional LCD screens.
The advancements in OLED technology, such as the development of flexible and foldable displays, have opened new avenues for applications in various fields, including wearable technology and foldable smartphones. This innovation is further boosting the OLED market demand.
OLED technology finds its applications in multiple sectors. In the consumer electronics sector, it is primarily used in smartphones, televisions, and wearables. The automotive industry is also embracing OLED for advanced car displays and lighting solutions. Furthermore, the advertising and retail sectors are increasingly using OLED screens for dynamic and eye-catching signage.
The market is witnessing increased competition, with significant contributions from Asia-Pacific, North America, Europe, and other regions. Asia-Pacific, particularly countries like South Korea, China, and Japan, account for a significant portion of the OLED market share due to the presence of major electronic manufacturers and a large consumer base. North America and Europe are also significant markets, with a focus on high-end consumer electronics and automotive applications.
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OLED Market Segmentation
The market can be divided based on product, technology, end use, and region.
Market Breakup by Product
- Display
- Lighting
Market Breakup by Technology
- Active-matrix OLED (AMOLED)
- Passive-matrix OLED (PAMOLED)
- Foldable OLED
- White OLED
- Transparent OLED
- Others
Market Breakup by End Use
- Consumer Electronics
- Automotive
- Retail
- Industrial and Enterprise
- Aerospace and Defence
- Healthcare
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global OLED market. Some of the major players explored in the report by Expert Market Research are as follows:
- LG Electronics
- Samsung Electronics Co Ltd
- OSRAM GmbH
- OLEDWorks LLC
- Koninklijke Philips N.V.
- Others
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