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Albany NY, United States, May 06, 2022 (GLOBE NEWSWIRE) -- The proliferating use of OLED (organic light-emitting diode) technologies for displays in wide range of smart electronics has been propelling the revenue expansion of the OLED display market. A booming demand for OLED-equipped smartphones and smart TVs worldwide has underpinned formidable commercialization for electronics and semiconductor companies. The global OLED display market is projected to surpass valuation of US$ 167.35 Bn by2031.
Strides made in information displays and lighting in numerous industries notably in automotive and gaming applications are expanding the lucrative avenues, found an in-depth business intelligence study by TMR on the OLED display market. Continuous innovation in OLED display tech over the past few years has presented many prominent smartphone makers and smart electronics manufacturers to capture sizable revenues during the forecast period. Several manufacturers of consumer electronics are increasingly preferring OLEDs over LEDs,
The shipping of smartphones with new generation of OLED displays is expected to generate incremental avenues and new revenue streams for the established markets. In the near future, new form factors and application areas in the OLED display market will likely leverage the flexibility of OLEDs, such as for large displays at airports.
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Key Findings of OLED Display Market Study
- Massive Demand for Displays for Smart Consumer Electronics Propelling Revenue Potential: There has been enormous demand for OLED displays among manufacturers of smartphones and consumer devices. The shipping of OLED panels has risen remarkably over the decades, and have added massive revenue growth to the companies in the OLED display market. A large amount of colour options and the ease with which they can be modified to meet customized demands in end-use industries has spurred the OLED display market growth.
- Extensive R&D in Next-gen Displays Enriching Market Prospects: Smartphone makers are geared toward addressing the limitations of LEDs and are conducting R&D on developing efficient, emissive and OLED displays with impressive long lifetime. The commercialization of roll-up and foldable displays has created abundant lucrative opportunities for various companies in the OLED display market. Growing need of next-gen displays for smart TVs and electronics are opening new frontiers.
- AMOLED Offering Value-Grab Opportunities: AMOLEDs are an emerging lucrative technology in the OLED display market. The sales of AMOLED-equipped displays for AR/VR headsets are bolstering lucrative opportunities, observed the analysts in the TMR study.
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OLED Display Market: Key Drivers
- Ever growing appetite for consumers for smart electronics devices coupled with the rapid pace of digitization of information is a key factor that has driven the evolution of the OLED display market. Of note, next-gen displays for wearables are expanding the avenue for companies looking for stable revenue growth.
- Growing R&D on organic electronics materials is expected to pave the way to new opportunities in the OLED display market. In regions, where the demand for OLEDs is saturating, new technologies are emerging such as ink-jet printed OLEDs and quantum-dot hybrid OLEDs, which will enrich the prospect of the OLED display market.
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OLED Display Market: Regional Growth Dynamics
Asia Pacific is a prominent market for OLED display, and is expected to account for a leading share during the forecast period (2022–2031). Many economies especially in Asia are hubs of manufacturing including in consumer electronics . This has spurred the growth potential of the Asia Pacific OLED display market.
Rapidly growing e-commerce platforms are catalyzing the shipping of devices and equipment equipped with OLEDs for both customers in businesses and consumers. Some of the top players are keen on expanding their presence by setting their production plants in the region, thereby opening rooms for new industry investments in the OLED display market.
OLED Display Market: Key Players
Some of the key players in the OLED display market are Universal Display Corporation, AU Optronics, LG Display, Samsung Electronics, and OLED Display.
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Global OLED Display Market: Segmentation
OLED Display Market, by Type
OLED Display Market, by End-use
- Mobile Phones
- TV Displays
- Digital Cameras
- Others (Gaming Consoles, Media Players, etc.)
OLED Display Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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