OLED Panel Market – Growth, Trends, COVID-19 Impact and Forecasts 2023-2029

OLED Panel Market was valued at US$ 44.81 Bn. in 2022. The OLED Panel Market size is estimated to grow at a CAGR of 14.03 % over the forecast period.
OLED Panel Market Overview:
The report explores the OLED Panel market's segments (Type, End-user, Technology, and Region). Data has been provided by market participants and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2022. The report investigates the OLED Panel market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the OLED Panel market's contemporary competitive scenario.To know about the Research Methodology :- Request Free Sample Report
OLED Panel Market Dynamics:
Rapid Increases in OLED Technology:

OLEDs have gotten a lot of interest from the scientific and industrial communities throughout the world over the years. A wide variety of OLEDs have entered the market, with an emphasis on passive as well as active matrix solutions, and are finding applications in a wide range of industries. The development of white OLEDs with a shelf life of more than 15,000 hours and a brightness level of 1,000 cd/m2 is an important research topic in the OLED market. Furthermore, bendable, lightweight, and indestructible devices with greater portability have been created using flexible OLEDs.

OLED displays are made of organic light-emitting materials and do not require the backlighting or filtering systems found in LCD displays. OLEDs are predicted to replace LCDs in most applications during the next decade, from small screens for smartwatches to huge displays for televisions. OLED displays are more sunlight-readable, energy-efficient, and easier to recycle than LCDs. As the light on the screen originates from each pixel rather than a backlight, OLED displays provide excellent contrast; when contrast is required, it simply dims or shuts off the appropriate pixels for a real, deep black color while using less electricity. OLED displays' high brightness, higher contrast ratio, and low power consumption are driving factors in their acceptance in a variety of applications.

Wide Adoption of Close Substitute for Display & Lighting Application:

Organic material in OLED screens is highly sensitive to water, necessitating strict protection. In terms of the other aspects, there has been some technological advancement. The increasing demand for low–cost LTPS LCDs and Si LCDs in low–end smartphones, as opposed to flexible OLED panels (which are typically utilized in high–end phones), is hindering the expansion of OLED panels in the smartphone sector. Also, cost appears to be one of the key concerns for firms such as Samsung when it comes to using OLED displays, particularly televisions. For their television sector, the company transitioned to micro LEDs and QLEDs, or quantum dot light-emitting diodes.

Increasing Popularity of OLED Smart TVs:

OLED technology, which provides efficient and beautiful lighting panels, is currently used in smart TVs. A smart TV is a digital television with an internet connection. It's a standard television set with internet and interactive Web 2.0 elements built-in. While exploring the internet and looking at photos, users can listen to music and watch videos. In addition to the normal capabilities of television sets, smart TVs may give internet TV, on-demand streaming, online interactive media, over-the-top content (OTT), and much more. Online video streaming accounted for 90% of internet traffic in 2019, according to a Cisco study. Smart OLED TVs are altering the concept of entertainment and transforming the entertainment business for these reasons. Because of rising disposable income due to global economic growth, premium products such as curved OLED TVs are projected to be widely adopted.

Requirement for high investment and relative increase in manufacturing complexity:

By adding new equipment, the latest LTPS-LCD production plants can be converted to OLED. But, this necessitates a significant upfront expenditure. Similarly, the TFT-LCD industry is losing money due to surplus panels. LG Display and AU Optronics are expected to be among the first to lose money on their initial investment before turning a profit on OLED. Furthermore, manufacturing and AMOLED screen necessitates more advanced technology than manufacturing an LCD panel. The supply chain is further complicated by the value chain's complexity and the presence of multiple vendors.
OLED Panel Market Trends:
With incredible technological developments, including improved picture quality in large-screen TVs and the growth of smartphones, the consumer electronics sector is rising at an incredible rate. OLED technology has enabled these innovative products. Technology advancements in consumer electronics, as well as worldwide economic growth, are driving consumer demand for OLED products. Smartphones and television sets commonly employ OLED screens. Also, despite the pandemic, numerous display panel makers have claimed an increase in mobile display sales due to new product introductions and an improved supply-demand scenario for large panels. Smartphones, televisions, and smart wearables will be the main product categories driving consumer segment growth in the next years.

High demand for cost-effective and energy-saving OLED lighting, increased government pushes toward OLED adoption, and growth in the display and large screen backlight industry are all major aspects influencing the worldwide organic LED market prediction. However, the high costs connected with the organic LED industry, as well as several technological restrictions, operate as key barriers to early adoption, limiting the market's growth. During the forecast period, however, rising demand for eco-friendly lighting solutions and increased adoption of smart lighting systems are expected to present profitable prospects for the organic LED market.
OLED Panel Market Segment Analysis:
By type: The global OLED panel market is divided into three types: flexible, rigid, and transparent. With 90.1% of the market share in 2022, the rigid segment will generate the most revenue. The rigid OLED panel was initially introduced to smartphones by Samsung, and it was preferred over LCDs because it featured a thinner, lighter form factor, better viewing angles, richer contrast, and faster response time. OLED had a small market share in the high–end and mid-range markets previously. The introduction of flexible OLED panels, however, shifted the need. The use of rigid OLED smartphone display fabs is rising, and the technology is generating renewed attention in the industry. Price reductions, a narrower price gap with Low–Temperature Poly Silicon LCD, availability of larger displays, new designs, demand for mid-range OLED goods, and delayed sales of flexible OLED displays have all contributed to this.



By End-users: Consumer electronics, vehicles, industrial and professional equipment, and other segments make up the market. Consumer electronics will most likely take the lead. In 2022, the most common end-use industry for OLEDs was mobile phones, accounting for more than half of the total market share. Since technological improvements have made it easier to create large-screen displays, their use in television sets is gaining popularity. OLEDs can be found in a variety of high-end consumer electronics components. OLEDs are used in other electrical products including microwave ovens and washing machines, to help make them more ecologically friendly.

By Technology: OLED Market is divided into two types based on Technology: PMOLED & AMOLED. PMOLEDs were first used in MP3 players, but AMOLED is now the industry standard for mobile phones and other displays. They are also used in portable gaming machines and have no size or resolution restrictions. AMOLED displays are becoming more popular by the day. Its impact may be found all over the world.
OLED Panel Market Regional Insights:
Asia Pacific held the largest market share accounting for 32% in 2022. Most of the major companies, including LG and Samsung, have manufacturing facilities in the region, Asia-Pacific is the largest market for OLED panels. In addition, the APAC area is home to various TV makers, signs display producers, and other vendors. In addition, due to the trade dispute between the United States and China, the Chinese government has allocated a significant percentage of its budget to the display industry. The semiconductor sector, which is one of the most heavily promoted businesses, is predicting problems.

China is the world's manufacturing capital. It is the world's fastest-growing consumer market and one of the largest exporters of consumer products. The country has the largest television market in the world. LG, for example, wants to work with Chinese merchants and television manufacturers to boost its OLED panel business. The demand for OLED display panels in the region is likely to grow.

The objective of the report is to present a comprehensive analysis of the OLED Panel Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers.

The reports also help in understanding the OLED Panel Market dynamic and structure by analyzing the market segments and projecting the OLED Panel Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the OLED Panel Market make the report investor’s guide.
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Global OLED Panel Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 44.81 Bn.


Forecast Period 2023 to 2029 CAGR:
14.03%
Market Size in 2029:
US $ 112.34 Bn.


 Segments Covered:
by Type
• Flexible
• Rigid
• Transparent


by End Users
• Healthcare
• Mobile & Tablet
• Home Appliances
• Automotive
• Others


by Technology
• PMOLED Display
• AMOLED Display



OLED Panel Market, by Region:
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina, Columbia and Rest of South America)
OLED Panel Market, Key Players are:
• LG Display Co. Ltd
• Sony Corporation
• Samsung Display Co. Ltd.
• Raystar Optronics Inc.
• Ritek Corporation
• OSRAM OLED GmbH
• Pioneer Corporation
• Winstar Display Co. Ltd
• Visionox Co. Ltd
• WiseChip Semiconductor Inc.
• BOE Technology
• AU Optronics
• Universal Display Corporation
• Sharp Corp
• Innolux Corporation
• Beijing Opto- Electronics

Frequently Asked Questions:

1) Who are the key players in the OLED Panel Market?
Ans. Sony Corporation, Samsung Display Co. Ltd, LG Display Co. Ltd, Pioneer Corporation, and Raystar Optronics Inc. are the major companies operating in the OLED Panel Market.

2) Which region has the highest growth rate in OLED Panel Market?
Ans. Europe is growing at the highest CAGR over forecast period.

3) Which region has the largest share in the market?
Ans. Asia Pacific holds the highest share in 2022.

4) Which vertical is expected to drive the growth of the market in the forecasted year?
Ans. The consumer electronics market is growing at a very fast speed with remarkable advancements in technology such as improving picture clarity in large screen TVs and the evolution of smartphones. OLED technology enables the development of these advanced products.

5) What is the study period of this market?
Ans. The OLED Panel Market will be studied from 2023-2029.