Global Organic Light-Emitting Diode (OLED) Market 2019-2023
Global Organic Light-Emitting Diode (OLED) Market: About this market
Organic light-emitting diode (OLED) are organic material-based diodes that produce light without any external light source for projection and are used in lighting and displays. Technavio’s organic light-emitting diode (OLED) market analysis considers sales from both OLED display and OLED lighting. Our analysis also considers the sales of organic light-emitting diode (OLED) in the Americas, APAC, and EMEA. In 2018, the OLED display segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for OLED display in smartphones and increasing incorporation of OLED display in consumer electronics will play a significant role in the OLED display segment to maintain its market position. Also, our global organic light-emitting diode (OLED) market report also looks at factors such as increasing number of patent-related activity by market vendors, growing investments in fabrication facilities, and growing popularity of digital signage applications. However, availability of less expensive substitutes, emergence of quantum dot technology, and increase in bill or material (BOM) may hamper the growth of the organic light-emitting diode (OLED) industry over the forecast period.
Global Organic Light-Emitting Diode (OLED) Market: Overview
Growing popularity of digital signage applications
Digital signage is an effective way to interact with customers which can influence purchase behavior by displaying customized messages. Retail sector is the major contributor in digital signage applications which is widely used to display discounts and offers to customers. Vendors are increasingly adopting OLED displays as they are thinner, lighter, more flexible, and emit brighter colors. This demand for OLED displays in digital signage applications will lead to the expansion of the global organic light-emitting diode (OLED) market at a CAGR of over 14% during the forecast period.
Emergence of quantum dot technology
Quantum dots are used in various applications such as displays, LED lighting, and solar cells. TV manufacturers are shifting their focus towards quantum dot-based TVs due to their benefits such as high color purity, high efficiency, and low power consumption. This development is expected to have a negative impact on the overall market growth.
For the detailed list of factors that will drive the global organic light-emitting diode (OLED) market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global organic light-emitting diode (OLED) market is highly concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading organic light-emitting diode (OLED) manufacturers, that include BOE Technology Group Co. Ltd., Japan Display Inc., LG Electronics Inc., Samsung Electronics Co. Ltd., and Tianma Micro-electronics Co. Ltd.
Also, the organic light-emitting diode (OLED) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
BOE Technology Group Co. Ltd., Japan Display Inc., LG Electronics Inc., Samsung Electronics Co. Ltd., and Tianma Micro-electronics Co. Ltd.
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