According to the report by Expert Market Research (EMR), the global organic LED market reached a value of USD 45.4 billion in 2023. Aided by the growing demand in consumer electronics, advancements in display technology, and the broadening application areas for OLED, the market is projected to further grow at a CAGR of 23.2% between 2024 and 2032.
Organic LED or OLED is a cutting-edge display technology that offers brighter, crisper displays requiring lesser power compared to conventional LCDs. OLEDs are essentially organic materials that emit light when electricity is applied. The profound benefits of OLEDs such as superior picture quality, lighter weight, improved power efficiency, and potential for flexible and bendable displays have made them the preferred choice for various applications, especially in the field of consumer electronics.
One of the pivotal drivers of the organic LED market growth is the surging demand for energy-efficient and eco-friendly lighting solutions. OLEDs, being an energy-efficient light source, have garnered considerable traction, reflecting a global shift towards sustainable technologies. Furthermore, the unparalleled advantages they offer, like sharper colour contrasts and faster refresh rates, have been instrumental in OLED technology’s penetration into the television and smartphone sectors.
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As per the organic LED market analysis, the evolving landscape of consumer electronics, characterised by an insatiable appetite for sleeker designs and enhanced display qualities, acts as a significant growth catalyst. The market for OLED TVs, smartphones, and wearables has seen a remarkable surge, largely attributable to OLED’s capabilities to provide thinner, lighter, and more flexible screens.
Moreover, advancements in the field have paved the way for innovative applications of OLEDs, further propelling the organic LED market demand. From being used in head-up displays in automotive designs to integration in healthcare devices for better imaging results, the adaptability of OLEDs is being recognised and harnessed in various sectors. The burgeoning interest in flexible and wearable electronics is further expected to amplify the demand for OLEDs in the forecasted period.
Beyond consumer electronics, OLEDs are gradually finding a foothold in the lighting sector. They hold the promise of revolutionising architectural lighting, offering unique opportunities for innovative designs given their flexibility and potential for transparency, and further increasing value to the organic LED market size.
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Organic LED Market Segmentation
The market can be divided based on type, product, technology, application, sector, and region.
Market Breakup by Type
- Flexible OLED
- Rigid OLED
Market Breakup by Product
- Display
- Lighting
Market Breakup by Technology
- Passive Matrix OLED (PMOLED)
- Active Matrix OLED (AMOLED)
- Transparent OLED
- Top-Emitting OLED
- Foldable OLED
- White OLED
Market Breakup by Application
- Television and Monitors
- Smartphones
- Laptops and Tablets
- Automotive
- Others
Market Breakup by Sector
- Commercial
- Residential
- Industrial
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 organic LED market. Some of the major players explored in the report by Expert Market Research are as follows:
- Au Optronics Corp. (TPE: 2409)
- Cambridge Display Technology Limited.
- Universal Display Corporation (NASDAQ: OLED)
- LG Electronics Inc. (KRX: 066570)
- Samsung Electronics Co., Ltd. (KRX: 005930)
- Others
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