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The organic light-emitting diode (OLED) market is estimated to grow at a CAGR of 13.84% between 2022 and 2027. The size of the market is forecast to increase by USD 39,447.32 million. The growth of the market depends on several factors, including the market is being driven by the upsurge in patent-related activities among vendors, the increased investments in fabrication facilities, and the rising demand for digital signage applications.
This report extensively covers market segmentation by product (OLED display and OLED lighting), type (rigid and flexible), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing number of patent-related activities by market vendors is notably driving the market growth, although factors such as the emergence of quantum dot technology may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Organic Light-Emitting Diode Market Driver
The increasing number of patent-related activities by market vendors is notably driving the market growth. A patent is a license that confers the right or title for a fixed period; therefore, obtaining a patent prevents any other person/s or company from making, using, or selling an invention. Several firms are focusing on obtaining patents on OLED displays. These patents allow the firms to protect their IPR, thereby preventing competitors or new entrants from copying their ideas, inventions, technologies, and others.
Some of the major firms that have obtained patents for OLED displays are Samsung Electronics, Universal Display Corp. (Universal Display), and Apple. An increase in patent-related activities results in the development of innovative products. Hence, the increase in the number of patent-related activities will accelerate the development and commercialization of OLED products. This will drive the growth of the market during the forecast period.
Significant Organic Light-Emitting Diode Market Trend
The increasing prevalence of OLED smart TVs is the primary trend in the market. Smart TVs currently employ OLED technology, which delivers efficient and stunning lighting panels. A smart TV is a digital television that is linked to the Internet. It is essentially a standard television set plus Internet and interactive Web 2.0 features. Users may use this to stream music and movies, as well as surf the internet and view images. Smart TVs can deliver internet TV, over-the-top (OTT) content, on-demand streaming, online interactive media, and much more in addition to standard television features.
According to a Cisco analysis, online video streaming accounted for 90% of internet traffic in 2019. Smart OLED TVs are altering the notion of entertainment and revolutionizing the entertainment business for these reasons. Owing to the increased disposable income as a result of global economic growth, the adoption of premium items such as curved OLED TVs increased, which, in turn, will fuel the growth of the market during the forecast period.
Major Organic Light-Emitting Diode Market Challenge
The emergence of quantum dot technology is the major challenge impeding the market growth. Quantum dots are semiconductor nanocrystals with dimensions less than 10 nm. Presently, these are used in various applications such as displays, LED lighting, and solar cells. In-display applications, quantum dots are used only to filter light from LEDs to backlight LCDs. High colour purity, high efficiency, and low power consumption make them one of the most promising technologies for display applications.
The adoption of quantum dots technology is primarily witnessed in UHD TVs. Several TV manufacturers such as Samsung Electronics, LG Electronics, Haier, and Sony are developing quantum-dot-based 4K and 8K LCD TVs due to the higher cost benefits than OLED technology. Thus, the emergence of quantum dot technology for manufacturing LCD TVs is a major threat to the growth of the market during the forecast period.
Key Organic Light-Emitting Diode Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Organic Light-Emitting Diode Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Visionox Co. - The company offers organic light emitting diode solutions such as 17.3 inch UHD 4K Ink Jet Printing OLED Display. Additionally, its display segment focuses on research, development, design, manufacturing, and sale of flat panel displays and most of the products are TFT LCD panels.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The reports categorize the global organic light-emitting diode (OLED) market as a part of the global semiconductor equipment market within the global semiconductors and semiconductor equipment market. The parent global semiconductor equipment market covers manufacturers of semiconductor equipment, including manufacturers of raw materials and equipment used in the solar power market. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The market share growth of the OLED display segment will be significant during the forecast period. The prominent LCD vendors are shifting toward OLED production due to the declining average selling price (ASP) of LCD panels, which results in low-profit margins. Hence, vendors such as Samsung Electronics and LG Electronics are shifting toward OLED display manufacturing due to higher profitability. Furthermore, there is an increased acceptance of OLED displays by end-users, which has encouraged display manufacturers to invest in OLED fabrication units.
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The OLED display segment was valued at USD 25,211.68 million in 2017 and continued to grow until 2021. OLED display panels are increasingly being integrated into consumer electronics devices such as smartphones, tablets, wearables, TVs, and automobiles. Therefore, the increasing demand for these devices will have a significant impact on the growth of the OLED market.
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APAC is estimated to contribute 60% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growing demand for consumer electronic devices in the region is providing growth opportunities to OLED vendors. In 2022, APAC dominated the global smartphone market with major OEMs, such as Huawei Technologies, Lenovo Group Ltd. (Lenovo Group), HTC Corp. (HTC), Guangdong OPPO Mobile Telecommunications Corp. Ltd. (Guangdong OPPO Mobile Telecommunications Corp. Ltd.), Samsung Electronics, Xiaomi Corp. (Xiaomi), and ZTE Corp. (ZTE), accounting for the majority of the revenue share. These smartphone manufacturers have well-established production facilities in the region. Most OEMs prefer APAC for setting up manufacturing facilities because of the easy availability of raw materials and cheap labor. This is expected to have a positive impact on the growth of the market in the region as consumer electronic device OEMs have started releasing products integrated with OLED displays.
The COVID-19 pandemic had a negative impact on the market in APAC. However, several end-user industries of OLED started manufacturing consumer electronics products such as smartphones and televisions, which increased the demand for OLEDs across the region.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Organic Light-Emitting Diode Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.84% |
Market growth 2023-2027 |
USD 39,447.32 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
13.6 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 60% |
Key countries |
US, China, South Korea, Japan, and Taiwan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AU Optronics Corp., BOE Technology Group Co. Ltd., Futaba Corp., Innolux Corp., Japan Display Inc., Konica Minolta Inc., Kopin Corp., Kyocera Corp., LG Electronics Inc., Lumiotec Inc., Nippon Seiki Co. Ltd., OLEDWorks LLC, OSRAM GmbH, RiTdisplay Corp., Samsung Electronics Co. Ltd., Sharp Corp., Sumitomo Chemical Co. Ltd., Tianma Microelectronics Co. Ltd., Truly International Holdings Ltd., Universal Display Corp., and Visionox Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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