OLED Display Market: Innovation in the OLED Display to boost Market growth

The OLED Display Market size was valued at USD 52.03 Billion in 2023 and the total OLED Display Market revenue is expected to grow at a CAGR of 13.6 % from 2024 to 2030, reaching nearly USD 127.03 Billion by 2030.
OLED Display Market Overview
An OLED (Organic Light Emitting Diode) display is a flat panel display technology that uses organic materials to emit light. OLED technology is considered to be better than that of LCD’s and is preferred worldwide due to its multiple advantages over LCDs such as better contrast, faster response time, and lower power consumption. It was also observed that the growth rate for the OLED display market was 22.6% for the year 2021-2022 due to the influence of COVID-19 and Russia-Ukraine war. The growth of the market is attributed to the increasing adoption of OLED displays in smartphones, televisions and multiple other consumer electronic devices. But there also lies a bar to the growth in this industry because of the falling market prices and longer life of the LCDs. Many such reasons halt the OLED Display industry to grow any further unless fresh, better and cheaper technology arrives in the OLED Display market. Also, the industry is primarily focussed in the Asia-Pacific region for manufacturing because of reduced raw material and labour costs as well as cost effective production methodology.

To know about the Research Methodology :- Request Free Sample Report

Apple is expected to launch new MacBook Pro models in 2026 that will come with OLED displays. According to market research firm Omdia's long-term demand forecast tracker, demand for OLED displays in mobile devices is projected to grow by 37% from 2023 to 2031. This major growth reflects a significant shift as many tech companies, including Apple, are increasingly incorporating OLED panels into their high-end notebooks and tablets.

At CES 2024, Samsung announced an expansion of its OLED monitor line-up, unveiling three new products: The Odyssey OLED G8 (G80SD model), with a 32” 4K UHD resolution, a 16:9 aspect ratio, 240Hz refresh rate and 0.03ms response time. Samsung will continue to diversify its gaming monitor line-up by introducing new Odyssey OLED models, each of which will leverage Samsung’s proprietary OLED technology. This innovation follows the success of the Odyssey Neo series with Quantum Mini LED technology, as well as the Odyssey Ark, which showcased a ground-breaking interface and form factor.

The OLED display market has been experiencing significant growth and transformation, driven by advancements in technology, increasing applications across various industries, and rising consumer demand for high-quality displays. OLED displays offer several advantages over traditional display technologies, such as Liquid Crystal Displays (LCDs), including superior image quality, flexibility, thinner and lighter designs, and energy efficiency. These benefits have made OLED displays a preferred choice for many electronic devices and applications.
OLED Display Market Dynamics
Innovation in the OLED Display to boost the OLED Display Market growth

Innovation in the OLED display industry is a major driver of market growth. Continuous improvements in OLED technology have significantly enhanced display performance while reducing production costs. For instance, advancements in manufacturing processes have led to the development of flexible and foldable OLED screens, which are becoming increasingly popular in consumer electronics. These flexible displays allow for innovative product designs and enhanced functionality, appealing to both consumers and manufacturers.

For example is the introduction of foldable smartphones, such as Samsung's Galaxy Z Fold series. Samsung's Display division reported a significant increase in the production of foldable OLED panels, projecting sales to reach 50 million units by 2023. This demonstrates the growing consumer acceptance and demand for innovative OLED applications.

The consumer electronics sector is a major driver of the OLED display market. The demand for high-quality display screens in devices like smartphones, tablets, and televisions is continually rising. According to Statista, the global smartphone market is projected to ship over 1.5 billion units annually by 2025, with a significant portion featuring OLED screens. This surge is fueled by consumers' preference for vibrant, high-resolution displays that offer superior contrast and color accuracy compared to traditional LCDs. Televisions also represent a substantial segment of the OLED market. LG Display, one of the leading manufacturers of OLED panels for TVs, shipped around 4.5 million units in 2020, with expectations to increase this number significantly in subsequent years. The superior picture quality of OLED TVs, with their deeper blacks and higher contrast ratios, is driving consumer interest and adoption, which helps OLED Display manufacturers to boost the OLED Display Market growth. The OLED display industry evolution is marked by significant technological advancements, rising consumer demand for high-quality displays, and expanding applications in various sectors. As the industry evolves, OLED displays are becoming increasingly integral to a wide range of products and industries, driving OLED Display market growth and innovation.



Opportunities
Description


Technological Advancements
Continuous innovation in OLED technology presents opportunities for enhanced performance, efficiency, and new features.


Consumer Electronics Demand
Growing demand for high-quality displays in smartphones, TVs, wearables, and automotive displays.


Automotive Industry Adoption
Increasing adoption of OLED displays in vehicle dashboards, infotainment systems, and digital mirrors.


Wearable Technology Growth
Opportunities in the wearable technology sector due to OLED's lightweight, energy-efficient, and superior visual quality.


Healthcare and Medical Displays
Opportunities in healthcare applications such as medical imaging, patient monitoring, and diagnostic equipment.



High Production Costs to restrain OLED Display Market growth

The OLED Display complex manufacturing processes involved in producing OLED panels contribute to these elevated costs. Unlike LCDs, which have been produced on a large scale for many years, OLED technology requires more precise and delicate handling. The materials used in OLED displays, such as organic compounds and encapsulation techniques, are expensive and require sophisticated equipment to process. For instance, the cost of manufacturing an OLED TV is significantly higher than that of an LCD TV. According to industry estimates, producing a large OLED panel cost up to three times more than an equivalent LCD panel. This cost disparity translates into higher retail prices for OLED TVs and other OLED-based devices, making them less accessible to price-sensitive consumers and limiting their OLED Display market penetration.

OLED displays, while offering superior visual quality, face durability challenges that hinder their adoption. One of the primary concerns is screen burn-in, where static images leave permanent marks on the display over time. This issue is particularly problematic for applications that involve displaying static images or interfaces for extended periods, such as in smartphones or computer monitors. OLED displays tend to have shorter lifespans compared to their LCD counterparts. The organic materials used in OLEDs degrade over time, leading to reduced brightness and color accuracy. This degradation is accelerated by exposure to moisture and oxygen, which are difficult to completely seal out despite advanced encapsulation techniques.
OLED Display Market Segment Analysis
Based on OLED Display Type, the market is segmented into Passive-Matrix OLED (PMOLED), Active-Matrix OLED (AMOLED), Top-Emitting OLED (TEOLED), White OLED (WOLED), Red-Green-Blue OLED (RGB-OLED), Foldable OLED (F-OLED). Red-Green-Blue OLED (RGB-OLED) segment dominated the market in 2023 and is expected to hold the largest OLED Display Market share over the forecast period. RGB-OLED technology, referred to simply as RGB OLED, involves the use of organic materials that emit red, green, and blue light directly. This approach differs from other OLED technologies, such as White OLED (WOLED), which typically use a white light source with color filters. RGB-OLED displays consist of organic materials that emit red, green, and blue light independently. Each pixel in an RGB-OLED display is made up of sub-pixels corresponding to these three colors. By adjusting the brightness of these sub-pixels, the display produce a wide spectrum of colors.


OLED Display Market Regional Insight
Asia Pacific dominated the market in 2023 and is expected to hold the largest OLED Display Market share over the forecast period. Technological advancements and innovation in the OLED display industry are pivotal drivers in the APAC region. Leading countries like South Korea, Japan, and China are at the forefront of OLED technology development. South Korean companies, particularly Samsung Display and LG Display, are global leaders in OLED manufacturing. These companies have invested heavily in R&D to enhance OLED performance and reduce production costs.

For instance, Samsung Display has pioneered the development of flexible and foldable OLED screens, which have seen significant adoption in the smartphone market. Samsung's Galaxy Z Fold series exemplifies this innovation, with the company reporting a substantial increase in foldable OLED panel production, projecting sales to reach 50 million units by 2023. Similarly, LG Display's advancements in OLED technology have bolstered its position in the OLED TV market, shipping around 4.5 million OLED TV panels in 2020.

The APAC region is a major hub for consumer electronics, driving significant demand for OLED displays. Countries like China, Japan, South Korea, and India are among the largest markets for smartphones, tablets, and televisions, all of which increasingly feature OLED technology. According to Statista, the global smartphone market is projected to ship over 1.5 billion units annually by 2025, with a significant portion of these shipments concentrated in the APAC region. China, in particular, is a key player, not only as a major consumer market but also as a manufacturing powerhouse. The country's consumer electronics market is booming, with Chinese companies like Huawei, Xiaomi, and Oppo integrating OLED displays into their flagship devices. The high demand for vibrant, high-resolution displays in these products is a significant growth driver for the OLED market. Regional consumer patterns in these countries show a strong preference for cutting-edge technology and high-quality displays, further propelling OLED Display market growth.
OLED Display Market Scope: Inquire before buying



Global OLED Display Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 52.03 Bn.


Forecast Period 2024 to 2030 CAGR:
13.6%
Market Size in 2030:
US $ 127.03 Bn.


 Segments Covered:
by OLED Display Type
Passive-Matrix OLED(PMOLED)
Active-Matrix OLED(AMOLED)
Top-Emitting OLED(TEOLED)
White OLED (WOLED)
Red-Green-Blue OLED(RGB-OLED)
Foldable OLED(F-OLED)


by Industry Vertical
Automotive
Consumer electronics
Healthcare
Security &surveillance
Others



OLED Display Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Major OLED Display manufacturers include:
1. Samsung Display - Yongin, South Korea
2. LG Display - Seoul, South Korea
3. BOE Technology Group - Beijing, China
4. Sony Corporation - Tokyo, Japan
5. Universal Display Corporation - Ewing, New Jersey, USA
6. Tianma Microelectronics - Shenzhen, China
7. JOLED Inc. - Tokyo, Japan
8. Panasonic Corporation - Osaka, Japan
9. Sharp Corporation - Sakai, Osaka Prefecture, Japan
10. Visionox - Beijing, China
11. Truly International - Hong Kong, China
12. EDO Corporation - Beijing, China
13. Raystar Optronics - Taichung, Taiwan
14. RiTdisplay - Hsinchu, Taiwan
15. Futaba Corporation - Chiba Prefecture, Japan

Frequently asked Questions:
1. What is an OLED display?
Ans: An OLED (Organic Light Emitting Diode) display is a flat panel display technology that uses organic materials to emit light. OLED technology is considered superior to LCDs due to its better contrast, faster response time, and lower power consumption.

2. What are the main applications driving OLED display market growth?
Ans: The increasing adoption of OLED displays in smartphones, televisions, and various other consumer electronic devices is driving market growth.

3. Where the OLED display industry is primarily focused for manufacturing?
Ans: The OLED display industry is primarily focused in the Asia-Pacific region due to reduced raw material and labor costs, as well as cost-effective production methodologies.

4. What future product launches are expected to impact the OLED display market?
Ans: Apple is expected to launch new MacBook Pro models in 2026 with OLED displays. Additionally, the demand for OLED displays in mobile devices is projected to grow by 37% from 2023 to 2031, according to Omdia's long-term demand forecast tracker.