Organic LED Market Overview 2023-2028
The global organic LED market size reached US$ 45.41 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 145.8 Billion by 2028, exhibiting a growth rate (CAGR) of 20.84% during 2023-2028. The shifting preference of consumers towards AMOLED displays, continual advancements in OLED technology, and the emerging trend of switching toward eco-friendly lighting solutions represent some of the key factors driving the market.
An organic light-emitting diode (OLED) represents a flat light-emitting diode that delivers superior power efficiency and brightness when compared to fluorescent tubes and incandescent bulbs. OLEDs are among the most promising illumination technologies since their panels are made from organic materials that are energy efficient. The technology was developed by placing thin organic films between two conductors for the organic molecules to create light. The benefits of OLEDs include improved contrast ratios, fast response times, wide viewing angles, and more saturated colors for enhanced viewing experiences. Compared to LCDs, these panels are brighter, more transparent, thinner, lighter, and use less energy. As a result, OLEDs are extensively utilized in various devices, such as computer monitors, smartphones, TV screens, and handheld gaming consoles, to create flexible digital displays and lighting.
Organic LED Market Trends and Drivers:
The shifting preference of consumers towards AMOLED displays from LCDs and the escalating demand for adequate visual experiences from television and smartphones are among the primary factors driving the organic LED market. Besides this, the extensive utilization of smart devices, including televisions, laptops, smartphones, and tablets, is further augmenting the market growth. Moreover, the growing popularity of high-quality OLED displays, such as HUDs, central stack displays, and instrument clusters, in luxury cars, the rising sales of automobiles, and the increasing investments by the leading players in the expansion of display panel manufacturing facilities are also catalyzing the global market. Apart from this, the elevating urbanization levels, the ongoing infrastructural development projects, and the inflating need for retina display technology and micro-LEDs are acting as significant growth-inducing factors. Furthermore, the reduction of raw material costs, owing to the expanding semiconductor industry, and the emerging trend of switching toward eco-friendly lighting solutions from their conventional counterparts are expected to bolster the organic LED market in the coming years.
Global Organic LED Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: AUO Corporation, DuPont de Nemours Inc., Futaba Corporation, LG Electronics Inc. (LG Corporation), OLEDWorks, Osram Licht AG (ams AG), Panasonic Holdings Corporation, RITEK Corporation, Samsung Electronics Co. Ltd. (Samsung Group), Sony Group Corporation, Toshiba Corporation, Universal Display Corporation, Visionox Technology Inc, etc.
The report has segmented the market on the basis of region, type, technology, application and end use sector.
Product Type Insights
- Display
- Lighting
The report has provided a detailed breakup and analysis of the organic LED market based on the product type. This includes display and lighting. According to the report, display represented the largest segment.
Technology Insights
- Passive-Matrix OLED (PMOLED)
- Active-Matrix OLED (AMOLED)
- Transparent OLED
- Top-Emitting OLED
- White OLED
The report has provided a detailed breakup and analysis of the organic LED market based on the technology. This includes passive-matrix, active-matrix, transparent, top-emitting and white OLEDs, wherein Passive-Matrix OLED (PMOLED) exhibited a clear dominance in the market.
Application Insights
- Television and Monitors
- Smartphones
- Laptops and Tablets
- Automotive
- Others
The report has provided a detailed breakup and analysis of the organic LED market based on the application. This includes television and monitors, smartphones, laptops and tablets, automotive, and others. According to the report, television and monitors represented the largest segment.
End Use Sector Insights
- Commercial
- Residential
- Industrial
A detailed breakup and analysis of the organic LED market based on the end use sector has also been provided in the report. This includes commercial, residential, and industrial. According to the report, residential sector accounted for the largest market share.
Regional Insights
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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