Organic LED Market | Fundamental Dynamics and Comprehensive Assessment to 2030 – Bloomingprairieonline

The description

the global organic LED market the size should go from $51,474.1 million in 2020 for $203,069.9 million by 2027, at a CAGR of 21.7% from 2021 to 2027. OLED, also known as organic light-emitting diode, is a flat light-emitting diode technology developed by placing thin organic films between two conductors. OLED is one of the most promising display and lighting technologies that can offer energy-efficient lighting that is superior to fluorescent tubes and incandescent bulbs. OLED technology helps the end user to create flexible displays and lighting panels.

OLED technology is gaining acceptance among end users because it is thinner, brighter, lighter, more energy efficient, and offers higher contrast than LCD displays. OLEDs offer wide viewing angles, higher contrast ratios, faster response time, and more saturated colors to enhance the viewing experience for end users. OLEDs are more expensive than LED and LCD products. However, the price of these products is expected to drop once the products gain better acceptance in the market.

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Various emerging and developed economies around the world are turning to energy efficient lighting solutions. Experts predicted that OLED technology will meet performance and price targets required in the future, facilitating a smooth transition from conventional lighting solutions to efficient lighting solutions. Additionally, government and industry funding for R&D is expected to boost the process of solving the technological challenges of the OLED lighting solution.

Global Organic LED Market Dynamics

Drivers: Strong demand for economical and energy-efficient OLED lighting

Lighting consumes approximately 15% of total global electricity consumption. In addition, lights account for around 5% of global carbon emissions. The United Nations Environment Program (UNEP) has published certain energy-saving lighting standards to reduce carbon emissions. The lighting industry in Europe and the Middle East is expected to grow dramatically over the next two decades due to rapid urbanization and economic expansion, resulting in increased demand for LED-based lighting. OLED. Accordingly, the need for more LED-based lighting to save energy and money is expected to drive the global OLED lighting market growth in the coming years.

Constraints: High cost of technology

OLEDs are considered expensive due to their higher initial investment cost compared to other lighting technologies. Circuits and food are included in the price. Although only from the perspective of the initial investment, the total cost (including the lifetime of the OLED) would be cheaper than traditional technologies. The total cost of ownership of OLEDs, including maintenance and energy, is lower than that of LED and LCD sources. In addition, the high investments at the initial level limit the initial acceptance of OLEDs. In addition, OLED is a material-intensive product; therefore, manufacturing OLED displays or lights is expensive.

Furthermore, the establishment of new manufacturing units requires a substantial sum of money and government approval. Setting up entirely new manufacturing plants requires a lot of money because the technology is relatively new and requires a lot of experience. This is expected to hamper the growth of the OLED market to some extent.

Opportunities: Increase in demand for eco-friendly lighting solution

A large part of the population is embracing green and eco-friendly products and other lighting solutions. Such consumer initiatives can provide market players with many growth opportunities to meet the increasing demand for environmentally friendly products in the global OLED market. The number of consumers adopting eco-friendly solutions is growing rapidly, and the effect of this trend is visible on consumers’ buying pattern.

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Report scope

The study categorizes the Organic LED market on the basis of product type, technology, and end-user regionally and globally.

By product type (Thousand units, turnover, 20172027, million dollars)

By Technology Insights (Thousand units, turnover, 20172027, million dollars)

  • Passive Matrix OLED (PMOLED)
  • Active matrix OLED (AMOLED)
  • Transparent OLED
  • High-emission OLED
  • Foldable OLED
  • White OLED

From end-user perspectives (Thousand units, turnover, 20172027, million dollars)

  • Consumer electronics
  • Automotive
  • Retail
  • Industrial
  • Commercial
  • Aerospace and Defense
  • Health care
  • Other

Outlook by region (Thousand units, turnover, 20172027, million dollars)

  • North America (United States, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
  • The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)

The display segment is expected to account for the largest market share, by type

By type, the global organic LED market is split into display and lighting. In 2020, the display segment accounted for the largest market share of 89.8% in the global organic LED market. Compared to LCDs, OLEDs can provide energy-efficient lighting solutions. OLEDs are bright, light and thin. OLED displays offer wide viewing angles, fast response times, high contrast ratios, and saturated colors that enhance the end user’s viewing experience. OLED is an entirely different emissive imaging display technology that requires backlighting. Likewise, other factors such as contrast ratio, black level response time and viewing angles are the factors driving the growth of the global OLED displays market.

Samsung, one of the leading manufacturers and adopters of OLED, implements OLED panels in most of the flagship devices like Galaxy Note 3, Galaxy S4 and others. OLED is also used in in-car audio systems, A/V players, digital cameras and other mobile devices. Recently, companies such as Sony, Samsung, Microsoft, Dell, LG, HTC, Olympus, Panasonic, Microsoft and ASUS have adopted and integrated OLED technology.

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Asia Pacific represents the highest CAGR over the forecast period

Based on regions, the global organic LED market has been segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 26.7% in the global organic LED market during the forecast period. OLEDs are expected to be the next generation display technology used in televisions, smartphones, laptops, digital cameras and tablets. OLED screens have many advantages over backlit LCD screens. The OLED display and lighting market in the Asia-Pacific region is expected to grow significantly in the near future. Asia-Pacific is one of the fastest growing markets for OLED lighting solutions due to the growing automotive industry in this region.

The majority of OLED material and panel manufacturers are located in Asia-Pacific. OLED manufacturers are concentrated in the Southeast Asian region due to cheap labor, easy access to raw materials, and efficient manufacturing technologies. The South Korean company LG Display Co. Ltd. announced that the company plans to invest in the OLED display market while spearheading the market. LG Display plans to invest $8.47 billion in OLED display by 2018. This OLED display would be widely used in smartphones, TV, portable, flexible displays, etc.

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Main market players

The organic LED market is slightly concentrated. Few global players operate, such as Philips, OSRAM, Samsung Electronics, Panasonic Corporation, LG Electronics, AU Optronics, GE Lighting, Eaton, CREE and Dialight PLC. To increase their market penetration, these key players have used techniques such as product portfolio growth, mergers and acquisitions, partnerships, regional expansion, and collaborations.